BYK, a German-owned chemical/pharmaceutical company has taken a 21,904-sf office building at a rent of £30 per sf ($42.30) per sf on a 20 year lease; Icon, also a pharmaceutical company, has taken 33,551 sf of office space at £30 ($42.30) per sf on a 16 year lease and telecoms group BT has taken a 24,304-sf industrial unit as a switch centre at a rent of £9.50 ($13.40) per sf on a 20 year lease.
James Renison of Strutt & Parker, joint letting agent with Atis Real Weatheralls, said: 'These lettings are a clear indication that the M4 corridor is in some areas sustaining good rental growth. We are confident that the recently completed remaining space will also let to similarly strong covenants.' One remaining office building of 38,544 sf is currently available and plans for a second phase include a 60,000 sf of office space due for completion in 2003.
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