Leases agreed as another firm moves into landmark buildingMar 01, 2020
100 Avebury Boulevard: Accounting software firm Xero has a greed a deal to move into a new office in the building.
by David Wells, Partner
LAW firm Hewitsons has completed another transaction in a Milton Keynes landmark building, 100 Avebury Boulevard, adjacent to Milton Keynes Central train station, taking its occupancy to nearly 95%.
Acting for AW James, Hewitsons has recently exchanged three lease agreements with multi-national technology-driven accountancy firm Xero UK Ltd for 56,000 sq ft of office space within the building.
The Xero deal adds to previous recent transactions with Spaces MK (Regus), Shoosmiths Solicitors and Aiimi Ltd, with the effect that a total of over 150,000 sq. ft. of grade A office space in 100 Avebury Boulevard has been let or gone under contractual commitment within a few weeks of the building’s practical completion.
Hewitsons’ partner David Wells commented that AW James’ building of 100 Avebury Boulevard was entirely speculative, which raised eyebrows in the real estate investment industry at a time of political and economic uncertainty. Nonetheless, AW James built it and let it, putting hats and humble pie on the menu for many in the industry.
The project of building and letting the building benefited from tightknit collaborative working between the core management team at AW James and its key professional advisors: GSS Architects, Hewitsons Solicitors, CBRE and Avison Young.
The conclusion must be that with ambition and hard work, AW James have shown that if the right contemporary grade A office space is provided, there is a viable market for it and that blue-chip occupiers will choose to commit to Milton Keynes.