Columbus completes letting to IMG Media at Stockley Park
Columbus Capital Management LLP, advised by Savills, has completed the letting of 5 Longwalk, Stockley Park, Heathrow to IMG Media. The world's largest independent producer and distributor of sports programming has agreed to pay an annual rent of £26.75 per sq ft (£288 per sq m) on a new 15-year lease.
Columbus Capital Management LLP, advised by Savills, has completed the letting of 5 Longwalk, Stockley Park, Heathrow to IMG Media. The world’s largest independent producer and distributor of sports programming has agreed to pay an annual rent of £26.75 per sq ft (£288 per sq m) on a new 15-year lease.
The headquarters building totals 115,000 sq ft across three floors. Having undergone a comprehensive refurbishment, the property boasts an impressive triple height reception area and large, open plan floor plates. IMG will be relocating from Hogarth Business Park in Chiswick and will be investing significantly in the new building to create new office and studio space.
Robin Pearce of Columbus Capital commented:
“IMG Media is an extremely well known and established global business and we are therefore delighted to have attracted them to this great building on Stockley Park. The decision to move away from the traditional media hub of West London and relocate to one of Europe’s most successful business parks reflects the quality that Stockley boasts and its longevity in attracting the world’s leading businesses.”
Jonathan Gardiner, director of office agency at Savills, comments:
“This is the largest letting on Stockley Park in over a decade, and continues the momentum of lettings that have happened over the past two years which now total 257,000 sq ft. With a further 100,000 sq ft of space currently under offer, the park will enjoy its lowest vacancy rate for over ten years.”
Stockley Park is one of Europe’s leading business parks, adjacent to Heathrow international airport and 17 miles west of Central London. Other tenants include BP, Canon, Apple, Marks and Spencer, Hasbro, Samsonite and Toshiba International.
Savills was jointly appointed with Jones Lang LaSalle. IMG Media was represented by DTZ. The property is now on the market via CBRE at a yield of 6.5%.
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Columbus Capital Management LLP
Columbus Capital Management LLP (Columbus) is part of Schroders’ real estate investment and asset management business. It is dedicated to executing value added real estate investment strategies with a focus on the UK market. Columbus is the Investment Adviser to the Columbus UK Real Estate Fund, LP (the Fund) which is the successor to the Gresham Funds. The sponsor of the Fund is Schroder Property Investment Management Limited.
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