17th Jul 2006 15:03
Slough Estates International completes ‚£26.2 million disposal of Fire Control Centre, Cambridge Research Park, to Evans Randall Slough Estates International (SEI) announces it has completed the disposal ofthe Fire Control Centre, Cambridge Research Park (CRP) to Evans Randall for ‚£26.2m.The transaction involves the forward sale of a 31,278 sq ft three storey officebuilding to be used as a Regional Control Centre for the Fire & Rescue Service.The building, which will serve the entire East of England on a 24/7 basis, isone of eight currently contracted by the Department for Communities and LocalGovernment (DCLG) to be built in England.Development of the Fire Control Centre will commence in March 2007 and isexpected to cost ‚£21.4m, including an annual licence fee of ‚£1.35m for thethree year period between completion and commencement of income. SEI is payingthis licence - to Evans Randall - in order to enable the forward sale of thesite.John Heawood, UK Property Director commented:"This is the largest pre-lease in the Cambridge market for a number of years.The sale is in line with the proactive and flexible approach SEI takes,maximising the value of its portfolio through the aggressive recycling ofassets. It demonstrates SEI's ability to deliver complex buildings to bespokeoccupier requirements and continues the pace of development at CRP." -ends- For further information please contact:Slough Estates plc Maitland Michael Waring Colin Browne/Peter Ogden Tel: 01753 213335 Tel: 0207 379 5151 Slough Estates InternationalSlough Estates is the leading European provider of flexible business space andowns business parks in Europe and North America, with four million squaremetres of business space and over 1600 customers (as at 31 December 2005).Slough Estates' properties are in suburban locations in close proximity to themain business centres, where there is long term demand for businessaccommodation to serve these key economic regions. The company's mainactivities are currently based around London, Brussels, Paris, Dƒ¼sseldorf,Amsterdam, San Francisco and San Diego and the company continues to develop newbusiness parks with the long term objective of building shareholder value andenhancing its reputation for quality buildings offering excellent value tocustomers. www.sloughestates.comENDSLOUGH ESTATES PLCRelated Shares:
Segro