Airport offices full as Kirkby Diamond lands major letting
September 26, 2023
A major office building near London Luton Airport, which was left empty following the collapse of Monarch Airlines, is now fully occupied following the completion of the latest letting.
An unnamed company has agreed a long lease on ground floor space totalling 11,766 sq ft at Percival House, located adjacent to the airport at Prospect Way. The company completing the new letting already occupies the 12,155 sq ft second floor on a 20-year lease.
Kirkby Diamond has now been responsible for letting all the office space – a total of 36,900 sq ft - at the building since its agency team was instructed by development and investment company Hampton Brook, which has invested significantly in transforming the three-storey office building.
Eamon Kennedy, senior partner at Kirkby Diamond, agreed the sale of the building to Hampton Brook and was subsequently instructed to market the refurbished office space by the new owners.
Percival House has represented an excellent investment for Hampton Brook, with the airport undergoing significant investment and redevelopment plans to take passenger numbers from 18 million to 32 million a year which will create around 11,000 new jobs and an additional £1.5bn in economic activity, said Eamon.
He added: “When Monarch Airlines collapsed in 2017 its headquarters building was left completely vacant and it looked a bit sorry for itself. It required major investment by Hampton Brook to bring it up to a high standard and to attract quality occupiers.
“It is therefore hugely satisfying to conclude the latest deal which means that Percival House is now fully occupied. The move to the building in 2019 by the company that occupies the second floor has proven to be such a success that they have now decided to take all the space on the ground floor.
“It says an awful lot about how well Hampton Brook has refurbished Percival House to create a superb property. Being located right next door to London Luton Airport makes it the perfect location for the tenant, which is involved in the airline industry.”
Ian Jackson, director of Hampton Brook, said: “We are very pleased to have completed the letting of the ground floor at Percival House, meaning the building is now fully let, following significant investment to deliver a Grade A high quality office accommodation for occupiers adjacent to Luton Airport.”
Percival House comprises 36,900 sq ft of office accommodation over three floors and sits in a 2.9-acre site. The building provides Grade A office space and also benefits from a manned reception, ancillary space/storage, as well as lifts, air conditioning, and 187 car parking spaces. Hampton Brook also has planning permission to build a new 11,600 sq ft self-contained office building adjacent to Percival House. Kirkby Diamond are joint letting agents with Bray Fox Smith.