Patrizia and funds managed by Oaktree Capital Management, L.P. (“Oaktree”) have agreed to lease the first floor in Building 11 at Watchmoor Park in Camberley to Jägermeister.

The spirit company will occupy 7,849 sq ft on a 10 year lease at a rent equating to £17.50 per sq ft Following this deal only 5,536 sq ft remains available in the building.

Patrizia and Oaktree acquired the majority of Watchmoor Park in June 2013 and have recently added Building 1 to their 30 acre holding, having completed the purchase in January. The majority of the 56,000 sq ft building is let to BTG whilst 15,993 sq ft remains to be let.

Commenting on the deals, Andrew Brooksbank, UK head of asset management at Patrizia, said: “We are delighted to welcome Jägermeister to Watchmoor Park. It is great to add such a high profile tenant and the decision they made to come to Watchmoor underlines the accessibility and quality of space the park has to offer.

“We have major investment plans which will be implemented throughout 2014 and we saw the acquisition of Building 1 as a key first step. We have just received planning consent for our proposals to refurbish Building 10 which will deliver 48,000 sq ft of new Grade A space and a programme of works to improve signage, branding and landscaping is to commence shortly.”

Strutt & Parker and joint agents Hollis Hockley act for Patrizia and Oaktree; Jägermeister was represented by Vail Williams.