Mecca Bingo owner Rank Leisure has shortlisted three properties for its new M25 corridor headquarters.
Rank, advised by Cushman & Wakefield, is considering three options for its new 34,000 sq ft home. It wants to downsize from its 56,000 sq ft office at Royal London’s Statesman House in Maidenhead by July 2013.
The shortlisted buildings, all in Maidenhead, are Kames Capital’s and Capella Estates’ 27-29 Market Street, where rents will be over £30 per sq ft; RREEF and Bell Hammer’s Tor development, on which Rockspring is poised to become a joint venture partner; and Frogmore’s Foundation Park.
Rank is one of several occupiers with requirements totalling 200,000 sq ft in the Thames Valley, where there are numerous upcoming lease expiries and a lack of high-quality space (11 February, p40).
A large amount of space could be freed up further south, with BAE Systems appointing C&W to find replacement tenants for as much as 200,000 sq ft at its Farnborough aerospace centre.
One agent said: “This space could be used for those struggling to find prime offices in the core Thames Valley, and looking for slightly cheaper rents.”
