How RARE helped
Abstract had commenced the first speculative office development in Basingstoke for 15 years. They required an agent who was synonymous with the Thames Valley to identify and engage with potential occupiers. Following a competitive pitch, RARE were appointed as letting agents and commenced a wide ranging marketing campaign.
We interviewed a number of agents for our 60,000 sqft Basingstoke office scheme, The Florence Building, and were impressed by the very positive engagement, enthusiasm and local market knowledge demonstrated by the team at RARE which ultimately lead to their appointment. They showed a fresh approach to marketing including an innovative video-lead campaign and we would have no hesitation in using them again or recommending them to others.
Business Objectives
- To build an outstanding profile for the building amongst commercial property agents based in London and across the South East.
- To reach out to target occupiers across the region and engage them in discussions about how their requirements could be satisfied at TFB.
- To create and disseminate a wide range of marketing collateral including brochures, e-wires, videos, occupier targeted presentations.
- To drive a step change in achievable levels of rent from their previous market levels to a new benchmark reflecting the quality of this outstanding scheme.
What RARE did
- We undertook detailed analysis of a range of databases to identify companies reaching lease/breaks and expiries within 2 years and to reach them by a range of targeted marketing.
- We changed market perceptions of Basingstoke addressing perceptions that it was ales desirable location and highlighting the key transformational investment that was planned, making it one of the leading business locations in the South East.
- We were instrumental in letting the entire building just three months after its completion, on a new 20 year lease to Sovereign Housing who relocated to Basingstoke from Newbury.
- The building was subsequently sold to LGIM (Legal & General) for £29 million.
