Global IT solutions business EDS is planning to develop a business park on one of its biggest UK campuses.
The company, which operates from more than 280 locations nationwide, is to team up with developer Akeler to create a 200,000 sq ft HQ complex at its Wavenden base in Milton Keynes, Buckinghamshire.
The move follows a review of the company’s South East occupational portfolio over the past two to three years.
In 2001, it had considered occupying the vacant Ark in Hammersmith, west London, but dismissed the idea in favour of a bigger scheme in Milton Keynes.
EDS, which has more than trebled in size in this country over the past four years, will relocate staff from buildings around Milton Keynes and Luton.
Its other offices, including its Stockley Park base, will not be affected.
Akeler pipped Kier Developments to be selected to buy and develop the site.
It is understood that Akeler, which is owned by Lend Lease, will pay around £11.5m for the Wavenden site and EDS will occupy the phased scheme on 15-year leases.
Between four and six buildings will be built. Local agents said top rents for the area would be over £17 per sq ft.
A source said: “The existing space is awkward, with a net-to-gross ratio providing EDS with only 70,000 sq ft of office space occupied out of the 120,000 sq ft gross on site.
“EDS wants to realise the site’s best potential, and Akeler is eager to get its hands on a rare large prelet development opportunity.”
Kier and Akeler went forward with final bids last month.
The development will be phased to allow EDS staff to decant into the existing Wavenden Tower, which will be retained.
The first phase of just over 100,000 sq ft will be complete by the end of 2004. Phase II will complete by 2006.
EDS needs clearance from its US board for the scheme.
Neither EDS nor its agent, Vail Williams, would comment.
References: EGi News 18/08/03
