May 26, 2005
Slough Estates Plc, a leading provider of flexible business space, today announces the pre-let of Phase 300, at Parkbury, St Albans, measuring 75,000 sq.ft, to Viglen Ltd, a major supplier of computer hardware systems and networks. The lease is for a term of 15 years at an annual rent of £610,500 exclusive, and is the largest pre-let deal in South Hertfordshire for over ten years.
The building provides a bespoke facility, comprising a warehouse and ancillary offices, which will be used for assembly and distribution. Slough Estates will provide a full turn-key package which will include a full tenant's fit out. The building is positioned at the front of the Parkbury development on a site of 3.7 acres.
Robert Cragg, Senior Leasing Surveyor at Slough Estates commented: "This is a substantial property transaction bringing further employment opportunities to the St. Albans area. It also shows Slough's continuing ability to develop new HQ buildings on former brown field sites."
Mark Coxon, Partner at Cushman and Wakefield added: "Viglen is a major PLC company that will attract other companies to the area and will compliment the existing occupiers on the first two phases of the scheme."
Slough Estates is also in the process of constructing Phase 200 at Parkbury, a speculative scheme of 12 units, providing 101,758 sq ft. of industrial / warehousing accommodation. This development follows the successful letting of Phase 100 where there is only one unit of 23,233 sq. ft. vacant.
Cushman and Wakefield Healey and Baker (CWHB) and Lambert Smith Hampton (LSH) acted jointly on behalf of 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.