3rd Feb 2006 09:55
Slough Estates PLC03 February 2006 3rd February 2006 HELIOSLOUGH ACQUIRES CHORLEY SITE FOR NEW NORTH WEST DISTRIBUTION HUB HelioSlough, the joint venture between Helios Properties and Slough EstatesInternational, has secured property on a former BAe Systems site in Chorley,Lancashire - for a new 1.3 million sq ft (120,770 sq m) industrial/distributionhub to serve the North West. HelioSlough has made an initial purchase of 13.2acres (5.3 hectares) for £3.3m. HelioSlough has contracted on further land whichcan be drawn down, up to a total of 75 acres (30 hectares). Subject to a rangeof conditions, the additional land could be secured on the same price basis(indexed) over the next few years. HelioSlough acquired the site, one of 12 designated as strategically importantto the region, after fierce competition from other developers. Outline planningconsent already exists for the development and HelioSlough plans to start workon two buildings of 200,000 sq ft (18,580 sq m) and 100,000 sq ft (9,290 sq m)in the summer. Andy Gulliford, Director, Corporate Acquisitions at Slough Estates, comments: "The site's strategic location, so close to the M6 and the North West's majorconurbations, will make the development one of the most significant distributionhubs in the region." The site is located half a mile from junction 8 of the M61 and two miles fromJ28 of the M6, next to Buckshaw Village, the largest mixed-use development inthe North West with 2,000 homes. King Sturge advised HelioSlough and Lea Hough & Co represented BAe Systems. The joint venture recently formed a partnership with BA Pension Fund for part ofits Wynyard development in the north east, purchased a major new opportunity inStoke and sold the last building at its Traxpark scheme in Doncaster for £10.2m. -ends- For more information, please contact: Slough Estates plcMichael Waring Tel 01753 213335 Maitland Colin Browne/Liz Morley/Peter Ogden Tel 0207 379 5151 HelioSloughMike Hughes Tel: 020 7629 6452Ian Purvis, Porterfield PR Tel: 020 7434 2233 Notes to editors: Slough Estates is a leading provider of flexible business space in businessparks in Western Europe and North America, with over 1500 customers occupyingapproximately 3m square metres of business space. Slough Estates' properties arein suburban locations in close proximity to the main business centres, wherethere is long term demand for business accommodation to serve these key economicregions. The company's main activities are currently based around London,Brussels, Paris, Dusseldorf, Amsterdam, San Francisco and San Diego and thecompany continues to develop new business parks with the long term objective ofbuilding shareholder value and enhancing its reputation for quality buildingsoffering excellent value to customers. www.sloughestates.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Segro