MEPC - Uxbridge, Highbridge Business Park, HQ Offices

Date: 06 Aug 1998

Two months prior to completion, MEPC has agreed to let the first of its two new headquarters office buildings being developed at the Highbridge Business Park, located between Uxbridge town centre and junction 1 of the M40, adjacent to the Grand Union Canal.

British Alcan Aluminium plc has leased the Hunton building - the larger of the two new developments - comprising 2,307 sq m (24,830 sq ft) of high-specification offices, together with 80 on-site parking spaces. MEPC has secured a 25-year lease, with five-yearly upward-only rent reviews, at a rent equating to £280 per sq m (£26.00 per sq ft), with a six months rent-free period.

Tim Davis, MEPC's business space asset manager for the M4 and Heathrow, comments: "This letting confirms the strong demand in the Thames Valley and Heathrow markets for high-quality office accommodation in a business park environment. We are delighted to have let yet another part of our development programme".

The adjacent Marsworth building, with a canal-side setting, comprises 1,565 sq m (16,838 sq ft), together with 52 on-site parking spaces. Leasing of this building is currently under discussion with a number of interested parties and the quoted rent is £296 per sq m (£27.50 per sq ft).

The Highbridge business park site was acquired by MEPC as part of the PSIT acquisition in 1997 and the first two buildings are scheduled for completion in October this year, with further expansion planned for the site.

MEPC were represented by Knight Frank and Thomas Williams. British Alcan were represented by Central & Provincial Management Limited.

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