Speculative Development at Slough Trading Estate Fully Let
SEGRO, owner of the Slough Trading Estate, has successfully completed the letting of the first phase of the Buckingham Avenue development, which under the Estate's Simplified Planning Zone agreement, delivered over 71,000 sq ft of new industrial space on the Slough Trading Estate over three buildings.
- First phase of Buckingham Avenue development fully let with laundry provider CLEAN signing new lease
- Second phase of development to begin in Q2 2016
- Additional 50,000 sq. ft. of speculative development announced on Stirling Road
The development completed in March 2015, with all three units fully let within 12 months of Practical Completion.
As the final letting, SEGRO has secured new customer CLEAN Linen Services Limited at 774 Buckingham Avenue. The 42,346 sq. ft. building will offer CLEAN, the laundry and dry cleaning specialists, a contemporary business space and will be the main hub for their processes in the London and South East area. The unit will be used to wash over one million pieces of linen each week.
Clean will join Pantos Logistics, Korea's largest logistics company and PWS Distributors at the Buckingham Avenue development.
The second phase of the Buckingham Avenue development comprising of a single detached unit of 35,000 sq ft is due to commence this summer. Speculative development programme will continue on the Trading Estate with a further detached industrial unit of 50,000 sq ft in Stirling Road. Both new developments will be ready for occupation at the end of Q1 2017.
Paul Lewis, Regional Director for SEGRO’s Thames Valley, said:
“Buckingham Avenue is prime example of the ongoing improvements we are making to the Trading Estate, ensuring it remains an attractive and relevant site for businesses. The high standard of the speculative development meets the need for modern, well located industrial facilities.”
CLEAN already has modern laundries in Camberley, Reading and Banbury, and is now the second-largest commercial laundry operator in the London hospitality market, with clients including Radisson Edwardian, Travelodge, Compass and Hilton.
CLEAN employs over 500 people and has undergone significant organic growth over the past ten years. The modernisation of its outlets has been central to this expansion and the selection of 774 Buckingham Avenue will be key in increasing productivity and the volume of laundry the company can manage.
Cushman & Wakefield is the letting agent for the Slough Trading Estate.