A US defence contractor and a global electronics company have agreed prelets totalling 110,652 sq ft at a new science and technology campus in the Harlow Enterprise Zone in Essex.
Raytheon UK, a subsidiary of US defence contractor Raytheon Company, and Arrow Electronics have signed 15-year leases for around 55,000 sq ft each at Kao Park.
Rents on the early prelets are in excess of £18 per sq ft, with quoting rents on future office phases expected to be at a
premium to this.
Raytheon and Arrow will occupy the Kao One building, the first grade-A office building at the £200m park. The 35-acre site was previously home to Nortel Telecommunications.
As well as providing 215,000 sq ft of office space, the park will become one of the largest
campuses of data centres in the UK when complete.
It is being developed by Goldacre Ventures, which has secured a £2.5m loan from Harlow council to invest in utility upgrades at the site and £2.5m of funding from the Homes and Communities Agency for site clearance and infrastructure upgrades.
The first office building and data centres will be completed by the third quarter of next year.
