A MAJOR OFFICE building near London Luton Airport, which was left empty after the collapse of Monarch Airlines six years ago, is now fully occupied.
An unnamed company has agreed a long lease on ground floor space totaling 11,766 sq ft at Percival House, next to the airport at Prospect Way. The new tenant already occupies the second floor at Percival House on a 20-year lease.
The deal follow major investment in the building, which has stood empty since the collapse of Monarch in 2017, by property development and investment company Hampton Brook. The new tenants have been sourced via property consultancy Kirkby Diamond.
Its senior partner Eamon Kennedy pictured right agreed the sale of the building to Hampton Brook and was instructed to market the refurbished office space by the new owners.
“When Monarch Airlines collapsed in 2017 its headquarters building was left completely vacant and it looked a bit sorry for itself,” Mr Kennedy said. “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.”
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, creating around 11,000 new jobs and an additional £1.5 billion in economic activity, Mr Kennedy added.
“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.”
Percival House comprises a total 36,900 sq ft of office accommodation on three floors and sits in a 2.9-acre site. The building provides Grade A office space, with 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.
Hampton Brook director Ian Jackson pictured left 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.”
