Land Securities has announced that it has agreed the forward sale of a new office headquarters on Crossways Business Park, to one of the South Eastâs largest housing associations, Moat Housing Group.
The freehold turn-key deal awarded to Land Securities for the new 30,000sq ft glass clad building, is the first significant forward-sale transaction in the South East quadrant of the M25 for a five year period.
Nick Turner, Development Manager for Land Securities commented: âCrossways is continually strengthening as companies choose the business park for its strategic location within the Thames Gateway and the excellent on-site infrastructure. This significant deal demonstrates that Land Securities is able to provide a bespoke solution for any tenant including the owner-occupier.â
Moat, which operates throughout the South east, including the key growth areas of the Thames Gateway, Ashford and the M11 corridor, will have up to 200 staff relocating from their regional offices and their current head office in Sevenoaks, allowing for future growth and regional employment opportunities. Moat Housing Group provide and manage over 13,000 affordable properties for rent and ownership in London and the South East, with over 3,350 properties in the Thames Gateway.
John Barker, Chief Executive of Moat Housing Group commented: âCrossways was the ideal site for our new head office as it is centrally located to our core business areas. The ability to design and specify our own building ensures it meets the exact needs of our business as we look to expand in the region.â
Completion of the three-storey building, which is a similar architectural design to the award winning 5065 on Crossways, is scheduled for completion in October 2005, with the head office expected to be operational in early 2006.
Laing OâRourke is building Moatâs new head office on behalf of Land Securities.
Source: Land Securities