43 High Street in Oakham has been let by FHP’s Retail and Leisure team to the Banking Hub, which allows banking face to face, whoever your bank is, at a time when many branches are closing.
The circa 2,150 sq ft unit was snapped up by the Banking Hub as part of their nationwide roll-out.
Ellis Cullen of FHP said: “Whilst this was a drawn-out process, and demand for the unit in the affluent market town of Oakham was strong, the Banking Hub makes a fantastic addition to the High Street, particularly as the unit was a former Lloyd’s bank.
“There has been great anticipation for a hub to be established so I am pleased to have been involved in the letting.”
With the success of another bank being established, FHP also assisted with the surrender of the existing lease of 8-10 High Street in Oakham, previously let to Barclays Bank Plc. FHP are sub-agents of JLL retained to assist with the Barclays portfolio to dispose of lease liabilities around the East Midlands, Lincolnshire, and Peterborough.
Ellis continued: “As a consequence of the levels of interest, I was able to secure a rent above the quoting, on a new 10 year lease, with a 5 year break which our client was delighted with.
“Off the back of the recent letting to the Banking Hub, and a period of marketing the circa 4,000 sq ft unit on behalf of our client, Barclays, I was delighted to have negotiated a surrender settlement with the landlord to allow a swift exit from the premises.
“The characterful period building occupies a prominent position on Oakham’s high street and despite Barclays having 2 years left to run on their existing lease, FHP successfully negotiated surrender terms which recently concluded.”
