Terrace Hill Group - Offices Development - Watford, Clarendon Road

Date: 29 Jan 2003

Terrace Hill Group plc has announced plans for a new 2,304 sq m (24,800 sq ft) speculative office development in Watford.

The developer has acquired the existing office building at 34 Clarendon Road from Morley Fund Management for approximately £1.7m and will carry out a complete reconstruction in a £6.75m new scheme scheduled for completion by the end of the year.

The development will provide high quality air conditioned offices in suites ranging from 278.7 sq m (3,000 sq ft) to 929 sq m (10,000 sq ft) with good surface level car parking. It is situated within a few minutes walk from the High Street, the Harlequin shopping centre and Watford Junction station.

Terrace Hill's managing director, Ken Grundy comments: "We are delighted to have secured this prime site and because we have funded this project internally we can be flexible in our approach to occupiers and can offer the freehold for sale."

Jones Lang LaSalle and Perry Holt & Co advised Morley and have been retained by Terrace Hill.

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