In a move that underline Slough's position as a premier business location, O2 and Slough Trading Estate (part of SEGRO plc) have confirmed that the leading mobile phone network provider will bring together all O2 UK head office functions to a single campus location on Slough Trading Estate.
The agreement, which covers more than 300,000 ft² of accommodation, includes the development of a new 110,000-ft² building at 264 Bath Road, the largest pre-let to be completed in the Thames Valley area this year.
O2, which was this month ranked as one of the top five employers in the UK, will occupy the 4-story building that will be linked to its existing premises on Bath Road to form a single campus environment. The new building will be highly sustainable in design and the benefit from a range of energy saving technologies including renewable energy, supplied by Slough Heat & Power.
The building will be taken on a 15-year lease. As part of the portfolio reorganization, O2 has extended its lease on its existing premises for a further 15 years and Slough Trading Estate will be responsible for O2's town center premises at 1 Brunel Way when they move to the campus location.
Slough fought off stiff competition from a variety of prominent business locations across the UK to attract O2, which is a wholly-owned subsidiary of Telefónica S.A.
The largest pre-let to be completed in the Slough area this year, the deal is yet another indication of the Trading Estate's burgeoning popularity among the IT and telecommunications sector, with the presence of companies including Research in Motion, the company behind Blackberry®, Vodafone, and LG Electronics, forming a robust industry cluster.
The new development represents the latest phase of upgrade work throughout the Estate, and is part of an ongoing programme of redevelopment and refurbishment, which ensures the availability of modern stock to meet the diverse needs of both current and potential occupiers.