Palace Capital has signed a new office tenant for its Hudson Quarter scheme in York.
Tour operator Great Rail Journeys has taken 11,300 sq ft at the development on a 10-year lease with a break in year six, at £26 per sq ft, with what Palace described as a “short” rent-free period. It has also rented 10 parking spaces at a further £22,500 a year. The company will occupy the fourth and fifth floors, including a roof terrace.
The deal takes the scheme’s office segment to just over 40% full with a further 3,600 sq ft under offer.
Speaking to EG last month, chief executive Neil Sinclair said companies were now moving to secure new office space after a period of inertia during the pandemic .
“Companies have kicked the can down the road on their office space and are waking up and thinking, ‘if I don’t do something, I might miss it’,” he said
JLL acted for Palace Capital; Sanderson Weatherall acted for Great Rail Journeys.
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