Invista Real Estate Investment Management (“Invista”), on behalf of Clerical Medical Investment Group Ltd, has exchanged contracts to pre-let New Bakers Court, its Uxbridge town centre office redevelopment, to Coca-Cola Enterprises Ltd (“CCE”).
The property, which holds outline planning consent for a 108,884 sq ft office scheme, has been pre-let to CCE on a 15-year lease commencing in April 2012. The transaction is conditional upon receipt of final planning consent. CCE will relocate over 550 staff from its existing European and GB headquarters (located at Charter Place, Uxbridge).
Harry Chichester, Head of Offices at Invista, said: “We are delighted that a business of the calibre of Coca-Cola Enterprises has chosen our building as its new European and GB headquarters. Situated in a prime location within Uxbridge, we plan to deliver a building of the highest quality and one which supports the further regeneration of the town centre.”
Stewart Cayzer, Property Manager Europe at Coca-Cola Enterprises, added: “Moving to Bakers Court will deliver CCE cost savings over the period of the lease and satisfies all our key stakeholder needs.
“CCE has been based in Uxbridge for over 20 years and the location was important in our decision making because we have a talented local employee base that is a key factor in the continuing success of the company.
“The prospect of our existing lease expiry presented us with an important opportunity to find a building that provided us with flexibility for the future and the chance to create a great place to work for our employees, which is what we aim to do working closely with Invista’s development team.
“The building was selected following a comprehensive review and evaluation of alternative options and we are delighted with the opportunities that it offers our business.”
Hanover Green LLP and Mellersh & Harding Building Consultancy acted on behalf of Invista, and Strutt & Parker advised CCE.