Stannifer - Offices Development -

Date: 26 Sep 2000

Stannifer has announced its intention to spec build up to 7,435 sq m (80,000 sq ft) of offices at its £30 million Ryon Hill Park scheme in Stratford upon Avon. And, the developer, more traditionally known for its involvement in retail and leisure property, has indicated that it is now looking for further opportunities for business park schemes in the UK.

The step follows the success of the first speculatively-built phase at Ryon Hill (where Stannifer has its UK headquarters). The 1,468 sq m (15,800 sq ft) Boathouse building is already mostly let with strong interest in the remainder at rents in excess of £182.92 per sq m (£17.00 per sq ft) - more than £21.62 per sq m (£2 per sq ft) above the £161.46 per sq m (£1 5 per sq ft) record that the Park achieved with a 1,171 sq m (12,600 sq ft) letting to Cinergy Global Power just 18 months ago.

When completed, Ryon Hill Park will comprise a total of 12,077 sq m (130,000 sq ft) of offices in units ranging from 279 sq m (3,000 sq ft) to 3,716 sq m (40,000 sq ft). To date, three buildings have been completed, totalling 4,459 sq m (48,000 sq ft) with the Boathouse due for completion in December 2000. Two further buildings - Lakehouse and Avon House (both approximately 3,716 sq m/40,000 sq ft) - are proposed.

Stannifer acquired the 6.67 hectare (16.5 acre) Ryon Hill site in 1997 and has recently bought in additional land to extend the development.

Letting agents for Ryon Hill are GVA Grimley and Oliver Liggins ACR.

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