The £725m purchase of four southern business parks including Winnersh Triangle, Farnborough Business Park, Chineham Park and Watchmoor Park was awarded Deal of the Year at the Thames Valley Property Awards ceremony last night.
The distinguished panel of judges recognised the scale of the purchase by Singaporean-based Frasers Property. As a new entrant into the Thames Valley property market, the creation of a business park platform of over 3.5m sq ft will positively influence the sector and the regional economy. Since the purchase in November, over 150,000 sq ft of new leases have been concluded across the estates.
Rupert Batho, commercial director at Frasers Property UK, explained: “This acquisition was in line with the group’s strategy to grow its overseas presence and recurring income sources. While the group has been in the UK for more than 15 years, we now extend our presence from the residential and hospitality sectors to include the commercial and business park sector. Frasers Property will bring its extensive hospitality experience to the onsite customer experience. Due to the size and nature of the ownership, Frasers Property can now offer dynamic and creative solutions to occupiers with a ‘one-estate’ multiple location approach. This approach has been unseen previously on such a scale outside London.”
Frasers Property is part of a full-fledged international real estate company and one of Singapore’s top property companies. The company invests in, develops and manages properties across the globe with residential, commercial and retail locations in Singapore, Australia, Asia and Northern Europe. Its hospitality division operates serviced apartments and hotels in more than 80 cities in Asia, Australia, Europe and the Middle East. Combined with robust financial and operational discipline, and the thoughtful execution of long term strategies, Frasers Property’s aim is to deliver value to stakeholders and communities by developing real places for real people.
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Notes to editors:
About Winnersh Triangle
Winnersh Triangle is an office and technology park located close to junction 10 of the M4, near Reading. Owned by Frasers Property UK, the 90-acre business park totals 1.5 million square feet and is occupied by over 60 companies employing more than 5,500 people. Visit www.winnershtriangle.co.uk for further information.
About Frasers Property UK
Frasers Property UK is a leading developer in London, and also owns and manages business parks in Thames Valley and Glasgow. The company’s development business has delivered more than 700 homes in London to date and is currently developing a 300,000 sq ft office scheme on the site of Central House in Aldgate East on the edge of the City of London. The company’s commercial/business parks business owns four business parks – Winnersh Triangle, Chineham Park, Watchmoor Park and Farnborough Business Park, in Thames Valley west of London – as well as Hillington Park, a business park in Glasgow.
For more information on Frasers Property UK, please visit http://www.fraserspropertydev.com.