Segro has let 210,000 sq ft to engineering company Fluor at IQ Farnborough, in the largest Thames Valley occupational deal since 2001.
Fluor has signed a pre-let at the Hampshire park, which is also this year’s largest letting in the south east outside London (as revealed by Property Week, 06.08.08).
The new UK headquarters for Fluor will consist of four buildings, one of which will be bought by Fluor. The rest will be on long term leases.
Construction will start in January 2009. The buildings are due to complete in 2010.
Segro’s UK managing director Ian Sutcliffe said: ‘A commitment of this scale under current market conditions demonstrates that IQ Farnborough is a first class site.’
Ian Thomas, Fluor managing director, said: ‘The relocation to IQ Farnborough makes sense for our company and our employees on a number of levels. We will be within a short distance of direct train lines from London which will help us with recruiting.
'There are amenities close by to serve the needs of our employees and clients like the Town Centre, hotels, restaurants and day care facilities.
'Finally, we are expecting to be able to significantly reduce our energy consumption using new systems and technologies.’
Lord Mandelson, the UK Government’s Secretary of State for Business, said: ‘It is a tribute to the quality of the UK workforce and business environment that Fluor is today announcing these major investment plans. The UK Government is pleased to support Fluor.’