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LONDON-Wates Group Services, one of the UK’s largest privately owned construction and development companies, has become the first tenant in Parkland Square, the new speculative development on the Capability Green business park near Luton, Bedfordshire.

Wates has taken 7,796 sf of office suites on the first floor of Mulberry House on a new 10-year lease, subject to a mutual option to break at the end of the fifth year, at £19 ($31) per sf.

The 38,734-sf Parkland Square scheme, developed by Real Land, Earlplace and Kilmartin Property Group and funded by Ansbacher, comprises two buildings: the 23,152-sf Cedar House and the 15,582-sf Mulberry House. The remaining office space is available to let in suites from 3,500 to 10,000 sf at a quoting rent of £19.50 per sf. FPDSavills and Lambert Smith Hampton are letting agents.

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