The building is due for completion next month. On the remainder of the site a detailed planning application has been submitted for a second unit of 240,000 sf. BL Gazeley was represented by Holley Blake and FPD Savills, while Tudor Toone acted for Matrix Securities.
The Thatcham sale is only one of five deals agreed by BL Gazeley in the past two months. At Delta Park in Enfield, north London, packaging group MacFarlane has taken the first pre-let in the second phase of development. The 55,000-sf unit has been taken on a 17-year lease at a rent close to the quoting price of £7.50 ($11.70) per sf. Jones Lang LaSalle and Holley Blake are letting agents and Alder King acted for MacFarlane.
And Warburtons, the UK's largest independent baker, has purchased 9.19 acres at Delta Park, where BL Gazeley will build the first 113,000-sf phase of a new production and distribution facility. King Sturge acted for Warburtons. Water cooler company Powwow has taken a 29,290-sf speculatively-built warehouse at the first phase of Delta Park at £8.50 per sf on a 15 year lease. Lambert Smith Hampton represented Powwow.
At Ravensbank Business Park in Redditch, Worcestershire, BL Gazeley has sold a 2.23-acre site to Shepherd Developments for£865,000 ($1.35 million). Shepherd plans a 40,000-sf office park. FPD Savills and Brown Harknett are joint letting agents for Ravensbank BusinessPark, while Shepherd Developments was represented by Wareing & Co and KWB.
Gazeley Development Director Nigel Godfrey said: "We have made significant progress on the letting side this year in an occupiermarket which is relatively flat overall, testament to the quality of location ofour sites. The decision to sell the investment of the S&N building was an easyone to make given the current investor appetite for this type of product."
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