The whole of MEPC’s Lakeshore phase at Bedfont Lakes near Heathrow has been taken by Cisco Systems, marking one of the largest completed lettings in the western corridor this year.
The IT network provider signed an agreement this week to take all of the 81,076 sq m (266,650 sq ft) of space under construction in three buildings. A source close to the deal confirmed that terms have been agreed on 20-year leases at £360 per sq m (£33.50 per sq ft), with breaks at year five subject to a rent penalty. Cisco is still in negotiations to take at least 55,740 sq m (600,000 sq ft) at Prudential’s Green Park in Reading. It is also seeking more space in the UK.
Colliers Conrad Ritblat Erdman, advising Cisco, was unavailable to comment, but it is understood the letting at Lakeshore will fill an interim requirement until Green Park is ready for occupation next year.
EGi News 01/06/00
