Milton sells in Redhill

In the largest deal in Redhill this year, Surrey County Council has bought the 3,833 sq.m. Consort House from the Milton Group. William Gelder of Hurst Warne, who acted for Milton Group, said the council will be relocating staff from existing premises in Reigate.

While the office market in Redhill and the surrounding towns has been quiet this year, it can look forward to the major mixed use plan for 9,290 sq.m. scheme (including a Sainsbury store) in the future when the existing lease runs out in 2014.Gelder said: "There is the prospect of lettings in the town when the current sub leases at 3 Princess Way expire in 2014, with occupiers such as Santander and Lombard being forced to relocate. There are a number of historic leases in the town that were agreed in the late 1980s and 1990s that are coming to an end in the next few years and occupiers are faced with the choice of either negotiating new deals with their existing landlords on tiring buildings or taking the opportunity to relocate to new or refurbished accommodation whilst the market is still in the tenants’ favour. This is likely to be the case in other similar office markets throughout the UK."