AshbyCapital has advised its group investment company on the funding of 2 Brunel Place, an office-led regeneration project by U+I. The 99,862ft² (9,277m²) office building is the first phase of U+I’s Brunel Place project, which will transform a key site adjacent to Slough train and bus station into a new commercial hub for the town. Brunel Place will deliver a new commercial quarter, a key part of the wider £450m (€563m) Heart of Slough regeneration project which has delivered vital new infrastructure, a renovated bus station, a new cultural centre and library and is providing new homes, retail and leisure space in the centre of the town. In total, Brunel Place will create approximately 358,000ft² (33,259m²) of new office space across three striking buildings designed by Sheppard Robson with a total investment value of approximately £200m (€250m).
2 Brunel Place will kick-start the wider regeneration project, with contractor Bowmer & Kirkland now on site and construction scheduled to complete in Q1 2018. The project will bolster Slough’s status as one of the most productive towns in the UK with the highest concentration of global corporate HQ’s in the UK. It will provide one of the best new office spaces in the Thames Valley, adding to the line-up of leading UK and international companies already located in Slough and creating over 1,000 jobs upon completion.
The building, which is situated moments from the recently renovated high street, benefits from excellent transport links – it faces the new bus station and is right next door to the National Rail station, which will welcome Crossrail in 2018. Slough already benefits from excellent connectivity, being less than 20 minutes from Heathrow Airport by car and with direct trains to London Paddington in 17 minutes and Reading in 14 minutes.
Crossrail will significantly improve journey times to and from Central London with Bond Street only 32 minutes and Farringdon 37 minutes away. Access to Heathrow Airport will be shortened to just six minutes following the opening of the Western Rail Access to Heathrow (WRAtH). The development also benefits from easy access to the M25 and M4.
2 Brunel Place has been designed to achieve a BREEAM ‘Excellent’ rating and includes a double-height entrance foyer, shower and changing facilities, flexible 14,500ft² (13,471m²) floor plates, covered secure car parking and sustainable features including green roofs and rainwater harvesting.
Peter Ferrari, chief executive of AshbyCapital, said: “Slough is an established destination for businesses with major occupiers including O2, LG, HTC, McAfee, Fiat, Honda, Reckitt Benckiser, Akzo Nobel, Mars and Black & Decker. As such, with the arrival of Crossrail in 2018 it will be the first major office centre outside Central London on the line. Increased demand for high-quality buildings in good value locations with fast access to central London is already improving the popularity of Slough, and this will be helped further by the arrival of Crossrail and an extensive regeneration programme that is transforming the town centre. Brunel Place is a first-rate building in a prime location and will benefit from these changing market dynamics.”
Simon Hesketh, Development Director, U+I, said:
“We are excited to be starting on site with the first phase of Brunel Place, a vital part of the wider regeneration of Slough town centre. The development will breathe life into a currently derelict site, delivering high quality new offices to a location that already benefits from fantastic connectivity, and helping to further establish Slough as one of the most productive towns in the UK.”
Ruth Bagley, chief executive, Slough Borough Council said: “This is a high profile town centre location with a lot to offer businesses, and the development will add to the stock of high quality office space at a time when business growth and inward investment in Slough is on the increase. We welcome the start of work on site and look forward to seeing the building finished and occupied.”
JLL represented AshbyCapital on the funding. Letting Agents for Brunel Place are JLL and Cushman & Wakefield.
