Poeticgem, the expanding fashion supplier, has bought a headquarters building on Watford's key business route Clarendon Road, for its own occupation, CoStar News can reveal.
The group, advised by Brasier Freeth, has bought the vacant 54 Clarendon Road, a 29,830-square-foot office in the Hertfordshire town, from Canada Life Investments for £8.4 million. The group is moving from the Trident Centre at Imperial Way in Watford.
Poeticgem was established in London and Manchester in 1995 and is now part of the PDS Global group, supplying companies including Sainsbury's and Asda. In September last year Poeticgem bought womenswear brand Little Mistress and will design, source and distribute the Little Mistress portfolio of brands worldwide.
Watford's Clarendon Road is seeing solid office take-up. In November, Regal London signed flexible offices provider YoooServ as the debut tenant at the Clarendon Works, a major speculative development in Watford set to open in the third quarter of 2024.
YoooServ has taken 16,975 square feet on the ground and first floors for 15 years for flexible workspace, with private offices, meeting rooms, breakout spaces and video call booths. YoooServ will also manage the 13,767 square feet of amenity space and services throughout the building.
In April last year LGIM Real Assets, part of Legal & General, signed two occupiers, Medivet and Mindray, for 22,314 square feet of offices at Hyde on Clarendon Road.
BrayFoxSmith advised Canada Life at 54 Clarendon Road. BrayFoxSmith and Lambert Smith Hampton are the letting agents at Clarendon Works.