Pre-let and Redevelopment of Winnersh Triangle
28 March 2007
SLOUGH ESTATES ANNOUNCES 72,500 SQ FT PRE-LET AND £100M FIRST PHASE IN
REDEVELOPMENT OF WINNERSH TRIANGLE
Slough Estates today announces the pre-let of 72,500 sq ft of office space at
Winnersh Triangle to communication specialist Harris Systems. The office space
let to Harris Systems, which will be completed in 2009, has been let on a 15
year lease, with the option of taking a further 17,500 sq ft of research and
development space within Winnersh Triangle. Rental terms are in line with
recent local levels.
Slough Estates also announces plans to transform the 80-acre site into a state
of the art business park, increasing available floor space by approximately
50%. The redevelopment of Winnersh Triangle will comprise 2 million sq ft of
office, retail, hotel and leisure space, transforming it into a modern, dynamic
environment for businesses.
The first phase of this ambitious project will commence in October 2007 and
will include 325,000 sq ft of office development. 160,000 sq ft of offices,
together with a 150-bedroom four star hotel and retail / café units will be
completed in early 2009, with a further 165,000 sq ft of office space due for
completion in 2011.
Winnersh Triangle is perfectly situated to attract major high-tech and
pharmaceutical businesses for which the Thames Valley region is renowned. It is
immediately adjacent to the A329(M), one mile from Junction 10 of the M4 and is
bordered by the Reading-Waterloo railway line with its own dedicated station.
Winnersh Triangle is 37 miles from Central London by road and 20 miles from the
M25.
Mike Miller, Vice President, EMEA for Harris Systems said:
"We are delighted to have secured our new UK headquarters on Winnersh Triangle.
We have been growing the size of our business significantly and Slough Estates
was able to accommodate our requirements both in terms of the hi-spec new
offices, and the timing of the move. We are excited about the redevelopment
plans, which we are sure will produce a vibrant scheme with excellent
facilities."
Gareth Osborn, Slough Estates Regional Director commented:
"We are pleased to be able to announce this landmark deal with Harris Systems,
the largest pre-let in Reading since 2001, which follows the 45,000sq ft
pre-let to Agilent Technologies announced in 2006. We are also delighted that
we can reveal our plans for the extensive redevelopment of Winnersh Triangle
into a state-of-the-art sustainable business location in a superb M4 location.
This will ensure it remains at the forefront of business park development,
further building on Slough's position as the leading provider of flexible
business space in Europe."
Slough Estates was advised by Vail Williams and Atis Real, with Harris Systems
represented by the Reading office of Strutt & Parker.
For further information please contact:
Slough Estates
Michael Waring, Director of Corporate Communications
Tel: 01753 213335
Maitland
Peter Ogden
Tel: 020 7379 5151
Notes to editors
Slough Estates International (SEI)
SEI is the leading provider of Flexible Business Space in Europe. Headquartered
in the UK, SEI is listed on the London Stock Exchange and on Euronext in Paris.
The company is a UK Real Estate Investment Trust ("REIT") with operations in
eleven countries, serving a diversified customer base of over 1,760 customers
operating in a wide range of sectors, representing both small and large
businesses, from start ups to global corporations. With investment property
assets of £5.0 billion (£6.0 billion including trading properties and
development assets) and 4 million sq m of business space, SEI has an annual
rental income in excess of £300 million.
www.sloughestates.com
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