Full-service chartered surveyors and consultancy, Monarch Airlines, has had the site of its former headquarters at London Luton Airport completely refurbished, following the site’s acquisition by an investment company.
The 36,000 sq ft three-storey office building was acquired by Hampton Brook, who has since invested £10 million in transforming the vacant office after the defunct airline collapsed in 2017.
Eamon Kennedy, head of Commercial Agency (group) at Kirkby Diamond, said: “There was considerable interest in the former Monarch Airlines HQ and I’m delighted that Hampton Brook was successful in acquiring the property. They have invested heavily in a programme of complete refurbishment to create a superb property.”
Hampton Brook’s confidence in the Percival House office building paid off, with approximately 12,155 sq ft of the second floor being let to London Luton Airport Operations Ltd (LLAOL) on a 20-year lease.
Commenting on the lease, Eamon added: “While the collapse of Monarch was a substantial blow to the local economy, we are delighted that we have been able to lease 12,000 sq ft to London Luton Airport Operations Ltd. We also have significant interest in the remaining two floors, which demonstrates the demand for office space at the Airport, and we expect to be able to announce more new occupiers in the near future.”
In addition to the second-floor let, Hampton Brook also has planning consent for a further 11,000 sq ft self-contained building, which has reportedly garnered interest from several potential occupiers.
Construction on the new standalone office building is expected to start early this year, with Luton-based property consultancy Kirkby Diamond also appointed to market the office space and as property managers.
Discussing the let to LLAOL, Ian Jackson, Director of Hampton Brook, said: “To have secured such a high profile occupier as our first pre-let is an excellent result that endorses our strategy; to deliver high-quality office accommodation at the airport that focuses on the changing occupational needs of forward-thinking organisations such as LLAOL.”
“We undertook this comprehensive refurbishment because we were confident of strong demand for Grade A office space in this location. The Airport’s decision to relocate here illustrates our approach was the right one.”
Featured Image: Hampton Brooks’ refurbished Percival House.