Network Rail has chosen to base a new maintenance project at the RTC Business Park in Derby, thanks to a letting completed by us on behalf of London and Continental Railways Limited.
In one of the largest single office transactions in Derby in recent years, Network Rail has leased 15,818 sq ft in Brunel House for a five year term.
The space is required to facilitate an electrification and re-signalling infrastructure project on the UK railway mainlines. Network Rail is a responsible for running, maintaining and developing Britain’s rail tracks, signalling, bridges, tunnels, level crossings, viaducts and 18 key stations.
London and Continental Railways’ property manager, Steve White, said: “Attracting a tenant of the calibre of Network Rail underlines the RTC Business Park’s reputation as a centre for rail and engineering excellence. Sanderson Weatherall’s team worked tirelessly to secure terms that were favourable to both parties and without their skilful negotiation on our behalf the deal would not have been possible.”
Under the terms of the lease, Network Rail will refurbish the property, transforming the accommodation into modern open plan offices. After 9 months of negotiations Sanderson Weatherall has secured lease terms that satisfy Network Rail’s business case but also ensure best value for London and Continental Railways.
Commenting on the letting, our associate partner in corporate real estate, Luke Barrett, said: “We are delighted to have secured this lease on behalf of our client. The deal will regenerate the building and provide ideal headquarters from which Network Rail can operate the project. It represents one of the largest single transactions in the city so we’re very pleased to have persuaded Network Rail to come to the RTC over the alternatives.”
RTC Business Park offers 430,000 sq ft of accommodation located on over 28 acres of landscaped grounds. The Park comprises a mix of low-rise office and laboratory buildings together with a number of rail connected industrial units. Other tenants include Atkins, Serco, Carillion Construction and Hitachi Rail.