Heathrow: Birds Eye takes new offices at Bedfont Lakes

Birds Eye, a tenant elsewhere at the park, has agreed to take One New Square at circa £30 per sq ft. Two New Square remains available to lease.
In February 2013 BP exchanged contracts to take Building 1 and 2 New Square at Bedfont Lakes from the then owner Aberdeen Asset Management in one of the largest South East office lettings since the downturn.

The deal saw oil giant BP take all of the former IBM offices at the park paying a rent of circa £28.50 per sq ft. It already occupied 70,000 sq ft at Bedfont Lakes after signing to move its refining and marketing teams out of its UK headquarters in Sunbury in 2011. The deals with BP ensured Bedfont Lakes was fully let.

In August 2015, M&G Real Estate completed its deal to buy Bedfont Lakes Office Park from Aberdeen Asset Management for £167 million, representing a net initial yield of 5.44%.

The transaction was made on behalf of the M&G Property Portfolio.

The 374,661 sq ft office scheme is located less than one mile from Heathrow Airport and 15 miles west of central London.

Other tenants at Bedfont Lakes include companies such Targus Europe and Stratus Technologies Systems.

JLL advised BP. Katana advised Birds Eye.

Source: CoStar