ATIS Real Weatheralls - Mixed-Use Development - Luton, Capability Green Business Park

Date: 19 Apr 2002

BAE SYSTEMS Avionics Group is set to relocate to a new state-of-the-art engineering design and development facility in Luton after acquiring the freehold of a 12.7 acre site, comprising 9.6 acres net developable area, at Pillar Property and Haslemere Estate’s joint venture development, Capability Green Business Park, for around £8.5 million.

Subject to detailed planning consent, the aerospace giant intends to develop a new office and research & development facility of 220,000 sq ft (20,438 sq m) to replace its existing site at Stanmore, NW London. The site already has outline consent.

Ian Watson, a director of ATIS Real Weatheralls, which acted for BAE SYSTEMS, says: “We looked at a number of potential options but this site meets BAE SYSTEMS’ criteria for its new facility on every level.

“The key issue is that our client needed a freehold site along the M1 corridor on which a bespoke office and R&D scheme could be developed, commensurate with its position as one of the leading aerospace companies in the world. Capability Green also benefits from excellent car parking ratios and is very close to Luton airport, the motorway network and Thameslink.”

BAE SYSTEMS anticipates work will be able to start on site by the end of the year, with completion anticipated by Spring 2004. The Pillar/Haslemere JV now has only one three-acre site left with full planning for 65,000 sq ft (6,039 sq m).

Eugene Doyle, of Pillar Property, adds: “The proposed development by BAE SYSTEMS is excellent news for Capability Green. BAE SYSTEMS will be joining some of the UK’s best known companies, including Ernst & Young, Interbrew, Corporate Services and Astra Zeneca.

“BAE SYSTEMS was searching for a mature environment which offered the flexibility to design its own building capable of promoting individual corporate identity within a major international business park.”

Jones Lang LaSalle and FPDSavills advised the vendor.

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