Strutt and Parker - Offices Sale - Chertsey, Surrey

Date: 11 Sep 2008

PPG (Southern) Ltd, advised by Strutt & Parker and New Ballerino, has sold the freehold of Cowley House, Chertsey, to United Therapeutics Europe Limited.

The biotechnology company, also based on Surrey Research Park, will occupy the 22,162 sq ft office building as their new European headquarters. The purchase follows a comprehensive Grade A refurbishment of the property which was completed only four weeks prior to the sale.

Warren Leader of PPG (Southern) Ltd, comments:
"The refurbishment of Cowley House is especially rewarding as I understood United Therapeutics Europe Limited were initially in the market for expansion space only. I am delighted at United Therapeutics' decision to adopt Cowley House as their new European Headquarters and feel this move is a testament to the style and quality of the refurbishment work undertaken."

Ed Smith, partner of Strutt & Parker's National Markets - Office Agency team and Steve New of New Ballerino added: "PPG (Southern) Ltd was astute to see the potential in refurbishing Cowley House as there was a distinct lack of good quality office accommodation available in Chertsey and the surrounding area. This is a strategy which has paid off as two occupiers were competing for the building with United Therapeutics winning the day."

DTZ advised United Therapeutics Europe Limited.

Related website: Strutt and Parker

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