CEG, the asset manager of Stuart House, has announced the launch of S|H Studios which will provide a number of office suites ranging in size from eight up to 25 workstations and are being offered to let on an all-inclusive basis with uncomplicated, three-year lease terms.
Located on the ground floor of the building, the studio workspaces are fully furnished with a desk and chair per workstation - each with power and broadband connections. All of the suites have LED lighting, air conditioning, in-suite tea/coffee points with integrated dishwasher, refrigerator, sink and storage units. Each suite has its own meeting room or break-out area and there is access to a formal boardroom.
S|H Studios' occupiers have access to parking at Stuart House with one allocated per studio with additional spaces are available by negotiation. There is free use of the on-site gym, shower facilities and secure bicycle store as well as use of Stuart House's The Hub coffee shop and café.
Barker Storey Matthews, which is jointly instructed with Savills, advises that the studios are being offered on what is known as ‘Plain English' lease terms. There is a standard lease document for a term of three years with tenant options to break at the end of the first and second years. This enables occupiers to move into the studios quickly and without incurring costly legal fees. There are no lease end liabilities for wear and tear. The rent is paid via a single monthly payment with just one month's rental as an upfront deposit.
Rents are on an all-inclusive basis which means the maintenance of the heating and cooling systems, building service charge, utility costs and building insurance are covered.
While occupiers will be responsible for their own business rates, small business rates relief is likely to apply for businesses who qualify.
Julian Welch, Director, Barker Storey Matthews Peterborough, believes that the S|H Studios initiative is just what the city centre needs to attract small and medium business enterprises.
He explains, "There is a marked lack of smaller, high-quality offices to let in Peterborough city centre. Stuart House is a landmark building which hosts some of the city's large and long-established companies.
Its owner is responding to demand in the market in launching S|H Studios.
For start-up companies or those in the early stages of growth, finding and securing office space can take up a lot of time and money. The all-inclusive, fully flexible lease offering at S|H Studios provides such companies with a no fuss property solution where costs are clearly defined."
For information about S|H Studios, contact Julian Welch, Barker Storey Matthews, tel 01733 897722 or see www.bsm.uk.com/property/office-property-peterborough/15764.