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LONDON-The Thames Valley office market to the west of London has been in the doldrums for 18 months now reflecting the downturn in the IT sector which dominates the area. But a new letting to airline ticketing company Galileo has give hope that acticvity could be returning.

Galileo, a subsidiary of Cendant Corporation, has taken a 55,000-sf speculative office building at Axis Park, Langley, near Slough in Buckinghamshire for its new UK headquarters. Developers MEPC and Rankvale have agreed a 15-year lease at a rent £27.50 ($43.50) per sf.

The letting leaves only one building of 40,000 sf available on the 750,000-sf development. Cushman & Wakefield Healey & Baker;CB Hillier Parker and Rogers Chapman are letting agents and Andrews Denford Boyd acted for Galileo International.

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