Member Article

Largest Oxford City centre letting in two years

Carter Jonas has agreed Oxford city centre’s largest office letting in two years on behalf of landlord Lothbury Investment Management at Clarendon House, 52 Cornmarket Street, OX1.

Oxford Policy Management (OPM), one of the world’s leading international development consultancies headquartered in Oxford and with offices in nine further countries, is set to double its floor space in Oxford when it moves its team in the second half of 2015 from St Aldates to approximately 18,000 sq ft offices in Clarendon House, which is in the city centre’s heart above the prominent Clarendon Shopping Centre.

The deal represents the largest office letting deal since the letting two years ago to Natural Motion, a leading games and technology company based in Oxford, London, Brighton and San Francisco, which took 18,857 sq ft at Ramsay House, 10 St Ebbe’s Street, OX1 at a reported rent of £15.50 per sq ft.

Jon Silversides, partner, in Carter Jonas’ Oxford commercial team said: “The letting to OPM is significant as it both removes the largest single available suite and also demonstrates a continuing demand for the city centre. The deal represents the city centre’s largest office letting in two years and was assisted by the quality of product being offered by our client. It’s great news for the city that a company such as OPM is remaining in Oxford’s heart.”

David Williams, director at Meeson Williams Phillips, who advised OPM said: “Oxford Policy Management is a perfect example of the need for office buildings in Oxford city centre. The company had its origins in the University of Oxford and intends to retain its close linkages with the city. It simply has a strong business case to stay in the city centre. OPM is by no means unique, and over the last three years my firm has worked with seven companies searching for offices in the city centre with a cumulative floor area of 62,000 sq ft.”

The quoting rent at Clarendon House was £19.00 per sq ft. The terms of the deal are confidential. Carter Jonas acted on behalf of the Clarendon Centre; Meeson Williams Phillips acted on behalf of OPM.

This was posted in Bdaily's Members' News section by Olivia Lane-Nott .