Statement re Major office letting in Slough
Slough Estates PLC
27th May 2005
Slough Estates secures major office letting in Slough
Slough Estates Plc, a leading provider of flexible business space, today
announces the letting of its office development at 252 Bath Road, Slough to LG
Electronics UK Ltd. The new building will provide LG with an additional 30,200
sq ft of office space in a state of the art air-conditioned development over
three floors.
LG Electronics already occupies the adjacent 20,000 sq ft at 250 Bath Road,
which was taken as a prelet, and the new letting represents significant
expansion for the company. The new 10 year lease on the premises is at £20 per
sq ft, rising to £25 per sq ft.
Designed by the in-house architectural team at Slough Estates, and forming part
of a landscaped courtyard development, the scheme has been recognised with an
award by the British Council for Offices.
Stephen Bailey, Slough Estates' Director for the Slough Trading Estate,
commented: 'We are delighted to be able to support LG Electronics' expansion in
the UK, which underlines the attractiveness of Slough as a location for
international business and the flexibility for growth within the Trading Estate.
Our focus is entirely on being adaptable and moving quickly to meet customers'
requirements. Our flexible leasing policy and simplified planning zone status
are hugely beneficial.'
Savills and Knight Frank were instructed on the building.
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 Shared Value Limited
Stephen Bailey Andrew Best / Emily Bruning
Director, Slough Trading Estate Tel: 020 7321 5022 / 5027
Tel: 01753 213512
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