£3 Million refurbishment leads to major signing for 3 Newbridge Square
Following a significant investment of £3million and an extensive refurbishment programme of Swindon’s prominent office building, 3 Newbridge Square, two new leases have been secured.
Asset and property management company FI Real Estate Management (FIREM) has delivered one of the largest transactions in Swindon Town Centre over the past 10-years, leasing approximately 18,000 sq ft of Grade A office space to the IT charity, British Computer Society (BCS).
BCS has a royal charter and over 68,000 members in 150 countries. Their purpose is to promote and advance the education and practice of computing for the benefit of the public. They are relocating from North Star House and will take three floors at Newbridge Square.
FIREM have also agreed on a new lease with the existing tenant, AECOM for 8,300 sq ft on the building’s 2nd floor. As a result, the building is now approximately 65% let with 3 floors remaining that can accommodate requirements ranging from 3,500 – 25,000 sq ft.
3 Newbridge Square is an eight-storey office building totalling approximately 60,000 sq ft. Formerly known as Tri Centre 3, the business hub is situated in close proximity to Swindon Railway Station adjacent to Kimmerfields, the emerging new business district for Swindon.
Occupying a prime position in the heart of Swindon town centre, tenants at 3 Newbridge Square are only a 3-minute walk from Swindon Train Station (0.2 miles) and can make the most of the direct routes to London and South Wales. The recent electrification of the Great Western mainline means there will be a greater number of services, more seats and quicker journey times. The property is also situated close to the M4 motorway (Junctions 15 and 16) and Heathrow Airport is less than an hour’s drive away.
This news from FIREM comes after a report, comparing 42 towns and cities across the UK, ranked Swindon in eighth place for economic growth and as Swindon Borough Council pushes forward with its Tech Swindon initiative. The town-wide focus is designed to highlight the growing number of opportunities for the technology sector across the region.
A spokesperson for FI Real Estate Management commented: “The news of these lettings is testament to our investment in the building over the last two years. With the new reception and revamped communal areas, as well as the introduction of a business lounge, we’re able to provide the much-needed quality office space that Swindon businesses tell us they are crying out for.
“We’re delighted that this investment has led to us welcoming such a prestigious company as BCS to the building along with being able to announce that global company, AECOM have chosen to remain in the building.”
Letting agent, Daniel Smethurst of Smethurst Property Consultants added: “We are delighted to have been involved with this transaction and to have offered strategic commercial property advice to FIREM. Swindon offers high-quality office accommodation at a fraction of the rental costs of Reading and Bristol and we sincerely hope that this letting will prove to be the catalyst for future development and regeneration projects. It’s a real vote of confidence in the town.”
Cushman & Wakefield are Joint Letting Agents for the building.