CEG, advised jointly by Savills and Lambert Smith Hampton, has let office space at Stuart House on City Road, Peterborough to Mortgages4Life Ltd.
The innovative mortgage provider has agreed to a new 10-year lease for 3,534 sq ft (328 sq m) on part of the third floor of the building ahead of its launch in the autumn. This follows the recent letting to Savills, who relocated to the newly refurbished office building from Trinity Court at the beginning of the year, occupying 11,798 sq ft (1,096 sq m) also on the third floor.
Currently 50,000 sq ft (4,645 sq m) remains available to let at a rent of £13 per sq ft (£140 per sq m).
Paul Farrow, director of business space at Savills Peterborough, comments: “Stuart House is in the process of undergoing a comprehensive refurbishment and upon completion will offer some of the only available Grade A space in Peterborough city centre. We, along with Mortgages4Life, are very happy with our new home and due to the property’s strong credentials expect to receive considerable interest in the remaining available space.”
Simon Little, Mortgages4Life’s chief executive officer, adds: “We needed very little convincing that Stuart House was the right premises for our new business. It is without a doubt the most prestigious office development in Peterborough city centre which offers excellent transportation links for both staff and key suppliers. It will be an integral part of the success of the business as we look to grow and expand.”
Mortgages4Life was represented by Talkspace.