Staines office rents reach £31 per sq ft
Office rents in Staines are approaching the highs of seven years ago.
Rents in the Surrey town have reached £31 per sq ft- the highest since 2001 when Siebel Systems paid £31.50 per sq ft at Brixton's Orbis development at the Causeway.
The recent high has been achieved at Australian developer Goodman's Pine Trees business park, where it has let 21,000 sq ft to video conferencing group Tandberg. Hospital group BUPA, advised by Lambert Smith Hampton, is expected to take 34,000 sq ft at the park, also at £31 per sq ft.
Jones Lang Lasalle acted for Goodman; Tandberg was advised by Chris Thomas. Elsewhere in Staines, marketing software company Sales Force is paying around £30 per sq ft for 19,600 sq ft at McKay Securities'Lotus Park, while airport catering business Alpha Airports is taking 35,000 sq ft at Bedfont Lakes business park. It will pay £26.50 per sq ft.
Cushman & Wakefield advised Sales Force; Vail Williams and Savills acted for McKay; JLL acted for Alpha Airports.
By Estates Gazette, 26/01/08