Gazeley - Industrial Development - Watford, Caxton Way

Date: 10 Oct 2000

Gazeley Properties has acquired a 2.19 hectare (5.4 acre) site in Caxton Way, Watford, from Countryside Commercial plc for £4.325 million.

Gazeley is to start work on site immediately, speculatively developing 7,525 sq m (81,000 sq ft) of warehouse/high-tech accommodation, to be built in three buildings. The £10.5 million scheme is due for completion in April 2001.

Commenting on the acquisition, Gazeley development director Nigel Godfrey said: "There is a limited land supply in this area and pent up tenant demand. We identified this site as an opportunity to get in and satisfy these requirements quickly. There is already some serious occupier interest and we anticipate being able to convert this into lettings shortly."

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