News

Salmon pushes button on Windsor Business Quarter

Nov 21, 2013

Salmon Harvester Properties Limited, a joint venture between Salmon Developments and NFU Mutual, has appointed a contractor to demolish the existing building at 67 Alma Road in Windsor, a 4.6 acre site acquired by NFU Mutual in June. Work will commence on site later this month and will prepare the 275,000 sq ft grade A office scheme for a pre-let.

Rorie Henderson, Development Director at Salmon comments, “The site has planning consent for an office campus of up to 275,000 sq ft across four buildings. This consent needs to be implemented by February, so we are demolishing the former Six Continents Hotels headquarters building and are preparing to take the scheme to market, which will be rebranded Windsor Business Quarter.

“Our intention is to secure a pre-let and clearing the site will fast track that process for any potential tenant. This is the first step in bringing forward an exciting new business quarter for Windsor and a fantastic opportunity for an occupier to acquire business park floorplates within a well-connected, town centre environment. We have also recently started work on 2 Glass Wharf in Bristol and have every confidence in the M4 corridor.”

James Finnis at Jones Lang LaSalle, sole letting agent comments, “This scheme represents a real milestone for the Western Corridor market. Windsor Business Quarter will provide up to 275,000 sq ft of top quality space in a "Gold Medal" Thames Valley town. It provides evidence of growing and well placed confidence in this market by a major UK Fund. With a replacement rate of less than 1%, the Western Corridor is fast running out of the best space. NFU & Salmon have recognised this and have moved proactively to take advantage of this supply shortage, by buying one of the best sites in the Thames Valley.”

Windsor Business Quarter will sit within a 4.6 acre landscaped site and provide up to 275,000 sq ft of grade A office space across four buildings, arranged around a central square and adjoining the Vansittart Recreation Ground. The scheme includes plans for 495 car parking spaces and a café/restaurant at ground floor level. Estimated rents are in the low to mid £30s per sq ft and the end value is in excess of £100 million.

Of the four buildings, two will be approximately 50,000 sq ft net and two 70,000 sq ft net, arranged on four and five storeys respectively.