Rivers Office Park
RickmansworthVIEW ALL OUR TRANSACTIONS
Selected as Development Managers following a competitive interview process, BHP is assisting Nuveen Real Estate in light of a lease expiry in December 2015.
BHP has undertaken a design-led master plan and managed the planning process to create a café hub in a landscaped environment in order to ensure the facility provides a much needed tenant amenity. BHP also managed the refurbishment of all 3 office buildings to include new finishes and M&E.
BHP led re-gear negotiations with the existing tenants whilst targeting occupiers who were known to have lease events between 2015-2017. Ultimately this gave BHP leverage to agree the re-gear with the existing tenant.
The asset was sold in 2018 to an overseas investor.
- Fully leased to Nissan Motor UK Ltd
- Very close proximity to the M25
- Almost certainly the best car parking ratio on the M25
- To engage with Nissan in respect of a re-gear
- To improve the tenant amenity on site through construction of a cafe
- To improve the ERV through refurbishment
- Remote from Rickmansworth town centre and occupier amenities
- Office accommodation spread over 3 buildings
- Dated M&E will require LL CAPEX
- Void risk if Nissan relocate
- Build cost inflation
- North West M25 office market