The io Group is set to win consent for five io centres totalling around 800,000 sq ft.
The company has been granted planning permission for a 15,793 sq m (170,000 sq ft) industrial scheme in Barking, alongside a 17,000 sq m (183,000 sq ft) io centre in Milton Keynes and a 9,290 sq m (100,000 sq ft) centre in Fareham.
Planning applications will be submitted shortly for a centre totalling 18,580 sq m (200,000 sq ft) at Houndsmill in Basingstoke and an 8,825 sq m (95,000 sq ft) centre in Banbury.
The projects will all follow the standard io concept – speculatively built centres offering between 100,000 sq ft and 200,000 sq ft of space. Between 25% and 45% of each scheme is available to occupiers, while the remainder is kept as an investment for letting on three, five, 10 and 15-year leases.
The five sites were bought this year by io Groups £250m Industrial Development Partnership II, the £250m limited partnership formed by the io Group and LaSalle Investment Management.
Peter James, head of io developments, said: “We are very pleased with the progress of our development programme which is going ahead as planned. We are currently looking to buy a further 10 sites in the main UK conurbations.”
EGi News 04/10/01
