Superdrug is the latest big name company to move into central Croydon after agreeing an agreement to make a newly-refurbished office block its headquarters.
The health and beauty giant’s move into 8 Bedford Park follows hot on the heels of deals to bring EDF Energy and The Body Shop into the town.
M&G Real Estate has signed up Superdrug Stores plc on a 15-year lease for all of its 52,000 sq ft redevelopment – five months after completing a comprehensive £9million refurbishment programme – at a market-leading rent equating to £26.50 per sq ft.
Vanessa Clark of consultant surveyors Sinclair Clark said: "It is a tremendous coup for Croydon to have attracted another household name to the local market.
"I’m delighted to have been involved in advising on the refurbishment of 8 Bedford Park."
The refurbishment included a full strip-out and fit of the building as well as relocation of the main entrance and reception area. Its sustainability ratings have also been enhanced, targeting an EPC rating of B and BREEAM rating of ‘very good’.
Vanessa added: "Attracting an occupier such as Superdrug has been made possible by market factors and the fact the landlords spent £9million to provide a better than expected overhaul of the existing building.
"The availability of a self-contained 50,000 sq ft block of this nature is increasingly rare in the current market."
Superdrug, who were advised by Colliers International, are currently based at 118 Beddington Lane, just outside Croydon, and had been linked to a number of prime developments in the town.
Superdrug, advised by Colliers International, has been linked to many of the key developments coming forward in the town in recent months.
Previous tenants Paribas Law have moved into the nearby Renaissance development, which is also owned by M&G, having bought the first speculated office development in Croydon for a generation upon its completion by Mark Glatman’s Abstract Securities in 2013.