42 property
Largest single office space in the Thames Valley brought to market
Property companies Landid and Delancey have joined forces to bring to market the largest single available office space in the Thames Valley.
The Sun Park campus in Blackwater, Surrey, comprises 284,410 sq ft (26,422 sq m) of Grade A office space. It is directly accessible from junction 4a of the M3 motorway and is set within 38 acres of landscaped grounds, occupying a tranquil, private setting with added security in its design. It has existing capacity for 3,000 people.
Sun Park is the former headquarters of Sun Microsystems, which was acquired by Oracle in 2010. Landid and Delancey bought Sun Park from Oracle in the spring of this year. Since it was completed in 2001, the campus has never been viewed by the market.
The office space comprises three separate buildings which are interlinked at ground level, and each building has three floors. Building 1 is 85,093 sq ft (7,905 sq m), building 2 is 125,908 sq ft (11,697 sq m) and building 3 is 73,409 sq ft (6,820 sq m).
The buildings can be modified to become self-contained, making Sun Park ideal as a corporate headquarters for either a sole occupier or three organisations.
The campus, which is 40 minutes by train
to London Waterloo, 17 minutes by road to Heathrow Airport and 40 minutes to Gatwick Airport, has the potential to offer an innovative green travel system as well as having standby generators which can provide 2MW of power. In addition, there are 1,351 car parking spaces, a generous ratio of 1:237 sq ft.
In addition to the existing space, there is consent in place to construct a further two new buildings which would increase capacity by 152,704 sq ft (14,186 sq m). Extra parking would be available at a ratio of 1:200 sq ft.
Tim Haden-Scott, investment director at Delancey, said: “It’s not often that a site of this calibre becomes available. Sun Park offers a rare combination of Grade A space, excellent location as well as privacy and security. The site is an interesting and viable proposition for organisations looking to consolidate and locate to the Thames Valley.”
Trevor Silver, director of Landid, added:
Global economic uncertainty hits UK commercial property market
The latest Property Snapshot from Colliers International suggests that the UK commercial property, including prime assets, is being impacted negatively by worldwide economic uncertainty.
The key findings were:
Economy – Despite high levels of corporate liquidity, uncertainty and fresh concerns about UK economic prospects and the potential for a Eurozone triggered financial crisis, is inhibiting business expansion and household spending.
Investment – Transaction levels improved in September, but year-end volumes may be held back as buyers review pricing in the prime end of the market. Funds are also cautious and not likely to commit without seeing real value.
Retail – Households continue to exercise caution as new economic uncertainties come to the fore. Retailers were not heartened by the UK prime minister’s
www.businessmag.co.uk
suggestion that consumers pay down debt on credit and store cards, especially with Christmas approaching.
Offices – A bedrock of small to medium sized lettings continues to support the Central London market, although the conversion of large Grade A requirements in core areas is sluggish. Regional markets continue to improve slowly.
Industrial – Sector continues to stabilise. Supermarkets and Internet distributors are absorbing the remaining Grade A space. Large operators are taking smaller units on short leases to satisfy requirements. Pre- lets and D&Bs are still making only a small impact.
Residential – House prices remain generally stable. Mortgage lending will remain tight, although funds are available for higher LTVs, but at a price. London continues to outperform, pressured by foreign buyers whose appetite for prime is undiminished.
Dr Walter Boettcher, director, research and forecasting at Colliers International, commented: “In response to the much weakened UK economic profile and, no doubt, eurozone fallout worries, the MPC has extended quantitative easing by an additional £75 billion. While a new round of quantitative easing may impact positively on general sentiment, the real task is to encourage the large highly-liquid corporates to begin investing in business expansion. In the absence of this type of investment, quantitative easing is only likely to make a marginal impact on UK economic recovery.
“Consumer confidence is not improving. Wage growth remains very weak and household disposable income continues to contract. The Gfk NOP CCI has been -30 or lower for three consecutive months and the high street is also under pressure as consumers increasingly shop online. ONS numbers for August show a 0.1% y/y decline in retail sales (ex-petrol), while non-store retailing grew by 13.8%.
“Internet shopping has seen double-digit year-on-year growth for nine straight months. BRC report a 0.3% rise in UK retail sales in September.”
THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2011
“We anticipate that sectors such as pharmaceuticals, IT, energy and research & development may be interested because of their desire for accessible, secure and sustainable schemes. The Sun Park buildings were designed as villages, incorporating street type communal spaces suitable for retail and leisure outlets, as well as including a full service restaurant. The space is versatile, innovative and designed to meet the social and working needs of employees during the working day.”
CBRE and Knight Frank are the letting agents for the scheme.
Details:
www.sunparkm3.com
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