Winnersh Triangle was re-launched formally today under new owners, funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and PATRIZIA UK Ltd., confirming the business park’s credentials as one of the premier commercial locations in the Thames Valley region.
The launch was heralded by two key development announcements for the park: planning approval for 70,000 square feet of new light industrial space, and a commitment to develop a further 60,000 square feet of office space.
Winnersh Triangle, an 85-acre mixed use business park, has more than 1.3 million square feet of built stock and 60 diverse and high profile companies with 3,000 employees on site. The park was acquired from SEGRO last year in a joint venture between Oaktree and PATRIZIA. Its official launch today adds to signs that the UK economy is continuing to strengthen with investment and expansion.
Now planning approval has been secured from Wokingham Borough Council for 70,000 square feet premises for aerospace and defence organisation Rockwell Collins, comprising 40,000 square feet for high specification workshop, research and development space, plus 30,000 square feet of offices on Plot 700.
The launch of Winnersh Triangle was also marked by the announcement to commence the phased development of Plots 1030 and 1040, which will ultimately provide 170,000 square feet of new grade A office space.
Plot 1030 has full planning permission for 60,000 square feet of offices over four storeys and an extension of the existing podium / car park underneath, which will entail an extensive landscaped community area close to the existing bistro, hotel, gym, spa and restaurant. The speculative development of this building is scheduled to start before the end of 2014.
The adjacent Plot 1040 has planning permission for 110,000 square feet of office space over five storeys, and is to be marketed as a pre-let opportunity. The completion of the two office buildings will create a band of modern office development at the western end of the park, following on from the earlier development of buildings 1010 and 1020 in 2010.
Other new arrivals at the business park since its new ownership include high quality digital broadcast and film product manufacturer Evertz UK Ltd, and AIT, a leading data centre and secure networking technical services specialist.
Dan Williams, PATRIZIA’s head of development, said: “We’ve had a lot of good news come all at once: planning permission for Rockwell Collins and fresh investment for more office development both coinciding with the park’s official launch. It all serves to underscore Winnersh Triangle’s presence as one of the premier commercial locations in the Thames Valley region.”
Will Lawrie, PATRIZIA’s asset manager for Winnersh Triangle, said: “As the economy continues to strengthen, businesses are looking to Winnersh Triangle for its range of mixed-use premises, excellent connections and top quality facilities.”
The new owners have also invested in fresh branding at Winnersh Triangle which will be rolled out across the business park’s signage, website and social media.
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