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Arlington Business Park continues strong leasing momentum in UK

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Author: Ravi Philemon

CapitaLand’s Arlington Business Park continues strong leasing momentum with Commvault taking up 13,000 sq ft space

CapitaLand’s Arlington Business Park continues to see strong leasing momentum as it has secured a long-term lease with Commvault Systems Ltd, an international enterprise data solutions and services company. Commvault will be taking up 13,000 square feet (sq ft) of office space, occupying the entire second floor at the recently refurbished Building 1330. This makes Commvault one of the top five biggest tenants at the award-winning business park.

Arlington Business Park

image: Capitaland

The lease to Commvault Systems Ltd adds to the recent successful lettings to other multinational tenants at Arlington Business Park. This includes Veritas Technologies and Honda totalling 27,000 sq ft. The business park is also home to multiple major blue-chip businesses such as Amazon, NTT Security, Civica and Willis Towers Watson.

The newly refurbished Building 1330 offers tenants the highest quality Grade A finishes and mechanical & electrical services. The building features a new double-height reception extension and pedestrianised landscaped terrace, with multiple access points providing maximum workplace design flexibility to suit the needs of tenants. An energy efficient air conditioning system and LED lighting have also been installed. The building has 25,000 sq ft of space available for lease on the ground and first floors.

Arlington Business Park comprises 11 Grade A office buildings totalling over 360,000 sq ft of net lettable area. CapitaLand acquired the prime freehold business park for £129.3 million (S$226.9 million) in February 2020. CapitaLand is one of Asia’s largest diversified real estate groups with a global portfolio worth £77 billion (S$134.7 billion.

Arlington Business Park is located in Reading, a 30-minute drive to Heathrow Airport and 40 minutes by train to London. It is conveniently located close to Junction 12 of the M4 motorway, one of the United Kingdom’s (UK) key motorways, providing excellent connectivity for tenants.

Arlington Business Park has been upgraded progressively over the past five years to include amenities such as a 5,500 sq ft café, electric car charging points, a gymnasium and a floating pavilion to enhance tenants’ experience. Asset enhancement work for Building 1220 and Building 1320 was completed in 3Q 2019 and 4Q 2019 respectively. Building 1320 has been fully leased while active marketing is underway to identify suitable tenants for Building 1220 (31,400 sq ft of space available).

Ms Michelle Lee, Managing Director, Europe, CapitaLand International, said: “The UK and Western Europe remain attractive investment destinations for CapitaLand. Before the COVID-19 outbreak, the region had one of the strongest years in terms of foreign direct investments (FDI), and investment in the UK increased 5%. Despite the pandemic, FDI continues to flow into the region.

The UK’s economy remains resilient, supported by strong fundamentals such as transparency and a robust digital infrastructure. CapitaLand is well-capitalised and takes a long-term view on our investments in the region. We continue to take active steps to enhance and value-add to our existing assets while keeping a lookout for suitable investment opportunities across various asset classes to expand our presence in the UK and in other key gateway cities in Europe.”

Ms Victoria Mann, Director, Portfolio Management for Europe, CapitaLand International, said: “As more organisations adopt a ‘hub-and-spoke’ model, decentralising their regional offices away from crowded locations such as Central London, Arlington Business Park is well-positioned to capture this demand. Set in an easily accessible yet green environment, Arlington Business Park is supported by strong technology infrastructure and well-designed amenities, making it an ideal home for many forward-thinking and enterprising multinational organisations.

“We work closely with our asset management partner, APAM, to attract suitable tenants to join the Arlington Business Park community, while continuing to engage our tenants and offering them wide-ranging weekly programmes through digital channels to ensure their well-being and productivity while working remotely. As our tenants return to Arlington Business Park, we are well-prepared to offer a comfortable and safe working environment. We look forward to welcoming our new and existing tenants to our business park community.”

Ms Alison Leonard, EMEA Finance Director, from Commvault Systems Ltd, said: “We are looking forward to enjoying all the benefits of our new office space in Arlington Business Park. The location will increase accessibility, while also offering a wide range of modern facilities so that all of our team – as well as our customers and partners – will be able to collaborate, relax and work in the most flexible and effective way.”

Arlington Business Park has rolled out new procedures and safeguards to ensure a safe working environment as its tenants return to work following recent guidance by the UK Government. The business park has enhanced cleaning and set up hand sanitiser stations readily accessible to tenants across the business park.

The business park’s shared amenities such as the café and gymnasium have also installed safe distancing measures and one-way entry and exit to facilitate smoother and safer operations. Contactless payment is also available at the café to reduce physical contact. Signs and guidelines have been put up across the business park to remind tenants of the new measures in place.

Arlington Business Park is a 10-minute walk to Theale train station. The Crossrail train line, which is due to open in 2021 will further improve connectivity, reducing travelling time into Central London. The business park is situated within the picturesque Thames Valley, offering a modern working environment amongst landscaped gardens and scenic lakes. The business park’s complimentary WiFi enables tenants to work al-fresco.

The well-kept green and blue spaces in the business park are ideal spots for placemaking. Tenants can unwind at these spots, have fun at the outdoor table tennis tables, or come together as a community, staying connected through well-curated programmes and events such as outdoor movie screenings organised by the park management team. Just a stone’s throw away, the town of Theale offers a host of dining, entertainment and retail options.

In 2019, Arlington Business Park won the ‘Business Park Innovation Award’ at the Thames Valley Property Awards while Block 1320 in Arlington Business Park won the ‘Best Delivered Scheme (under 30,000 sq ft outside of Central London)’ at the Office Agents Society Development Awards.

The post Arlington Business Park continues strong leasing momentum in UK appeared first on iCompareLoan Resources.

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