COMMERCIAL OF THE YEAR
PROPERTY DEAL Sponsored by
WINNER:
Following dessert, Gyles Brandreth resumed the awards presentations, and accompanied by Fiona Devine awarded the London Irish and Ascot ‘Charitable Table of the Night’ to BrookStreet des Roches.
Overall, the 50 tables had contributed £6,379 to help boost the Alexander Devine Children’s Hospice Service charity.
And so, we moved to the last batch of awards for the evening – including two new categories and one surprise announcement for a Thames Valley property personality.
But first it was back to business, and the skills of the dealmaking professionals behind the headlines.
Gyles Brandreth announced the three finalists for the Commercial Property Deal of the Year:
• 450 South Oak Way, Green Park • 730 Wharfedale Road, Winnersh Triangle • One Waterside Drive, Theale
The largest single letting in the Thames Valley in 2014 was the move by PepsiCo to 105,000 sq ft of space at 450 South Oak Way within Green Park, Reading. Oxford Properties took over the building from Cisco, and remodelled it, enabling the drinks giant
THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2015
730 WHARFEDALE ROAD
to move across from Arlington Business Park at Theale. Described as a ‘mega letting’ by the property press, the move to 450 South Oak Way was a significant coup for Green Park.
The pre-let at Winnersh Triangle of 730 Wharfedale Road was one of the largest in the region in recent years. Rockwell Collins is expected to move to its new ‘centre of excellence’ in June, relocating from its current base to a facility that has been specially designed to facilitate the development of advanced satellite navigation technology.
Winnersh Triangle was sold by SEGRO in 2013 to a JV between Oaktree Capital Management and Patrizia AG.
The pre-let of 27,000 sq ft at One Waterside Drive, Theale, to Direct Wines saw a redundant office building, previously occupied by Hewlett Packard, refurbished and modernised. Direct Wines described its new offices, part of Arlington Business Park, which is adjacent to Junction 12 of the M4, as “top quality“.
Neil Seager (pictured right), partner at category sponsor Haslams, the Thames Valley property experts, opened the award
envelope to reveal the winner: the Patrizia/ Rockwell Collins deal at Winnersh Triangle.
Dan Williams (pictured second right), development director at Patrizia UK & Ireland, explained later that Patrizia had met Rockwell Collins by coincidence the day before exchanging on the purchase of Winnersh Triangle. “We had this interesting meeting where we said we were about to buy the site, and although they didn’t really know us, would like to become their new landlord. Within three months we had agreed the deal with them.”
Rockwell Collins' new home at Winnersh Triangle has been specifically tailored, said Williams, with 30,000 sq ft of offices and 40,000 sq ft of laboratory facilities, high-quality engineering, R&D and distribution space.
Winnersh Triangle has several other plots now under development, but “. . .there is still quite a lot of asset management and redevelopment to do over the next few years, which is very interesting and exciting.”
Williams noted the local assistance of Vail Williams, JLL, Strutt & Parker, Barton Willmore and Langley Hall Associates within the award- winning deal. Professional services support was very strong in the region, he added. “As good as London.”
www.businessmag.co.uk
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