May 10, 2005
Slough Estates Plc, a leading provider of flexible business space, today announces that it has purchased a 3.4 hectare (8.39 acre) development site from LSG Sky Chefs in Feltham, Heathrow. Slough intends to develop a 100,000 sq. ft. warehouse scheme on the site with a completed development value of over £20 million.
Phil Redding, Slough Estates' Director for Heathrow and West London commented: "The LSG Sky Chefs site represents one of the best located and most sought after sites in the Heathrow market. Slough was able to buy the site off market because of its ability to complete the deal within the very tight disposal timescale set by Sky Chefs. This acquisition expands the LHR.com portfolio to 15 estates in 7 locations around Heathrow Airport and provides a high profile addition to the substantial development programme already planned for the Heathrow area".
The LHR.com portfolio is part of Slough's Heathrow and West London Region and comprises 144 customers in 200,000 sqm of warehouse and business space in 7 locations around Heathrow, namely: Feltham, Hounslow, Isleworth, Hayes, Poyle, Heston and West Drayton.
De Souza and Rogers Chapman acted for Slough Estates.
Slough Estates is a leading provider of flexible business space in business parks in Western Europe and North America, with over 1500 customers occupying 2,996,967 square metres of business space, with a total value of £3.9 billion. Slough Estates' properties are in suburban locations in close proximity to the main business centres, where there is long term demand for business accommodation to serve these key economic regions. The company's main activities are currently based around London, Brussels, Paris, Düsseldorf, San Francisco and San Diego and the company continues to develop new business parks with the long term objective of building shareholder value and enhancing its reputation for quality buildings offering excellent value to customers.
www.sloughestates.com
For further information contact:
Slough Estates
Phil Redding
Director, Heathrow and West London
Tel: 01753 213467
Shared Value Limited
Andrew Best / Emily Bruning
Tel: 020 7321 5022 / 5027