Akeler - Offices Development - £25 Million Development
Date: 09 Oct 2002
International office and business park developer Akeler has completed a deal for a major new bespoke development.
Sited on land owned by English Partnerships and forward funded by investment house Matrix Securities, the £25 million development for Visteon Corporation is the first for Akeler since its acquisition by Lend Lease Global Properties last month. The deal shows the company moving forward under its new ownership.
Based in Basildon, Essex, the 130,000 sq ft gross (12,077 sq m) development will form Visteon Corporation's new south-east England regional headquarters. Visteon Corporation is a leading full-service supplier delivering consumer-driven technology solutions to automotive manufacturers worldwide. It has about 79,000 employees in 25 countries.
Trevor Silver, Chief Executive Officer at Akeler, commented: "Visteon approached Akeler to spearhead this development based on our track record of producing quality bespoke buildings under our 'b2s' - build to suit - brand.
"Build to suit developments will be a key element of Akeler's development strategy over the next few years, be they stand alone buildings or options for tenants at our business park developments such as Leeds Valley Park."
Dave Facer, European Facilities Manager at Visteon, added: "Akeler has worked closely with us to develop offices which both suit the practical needs of Visteon and its employees, and which reflect their status as the UK headquarters of a global operation."
Akeler has created a striking, environmentally friendly building which will incorporate a glazed atrium 'street' running the entire length of its southern façade. The development will incorporate 'briese soleil' solar shading and Akeler is confident of obtaining a Very Good BREEAM rating under the 2002 accreditation scheme.
The development will house 800 employees currently working across seven offices for Visteon Corporation in the Basildon and Essex area. Work has just commenced on site and completion is expected in autumn 2003.
The site of the scheme has been the subject of a comprehensive wildlife relocation programme. Conducted under guidance issued by the Department of Environmental, Food and Rural Affairs, Akeler's work has seen nearly 200 newts and adders captured for relocation to a new, managed plot adjoining the Visteon Corporation site.
Neil Murphy, Development Surveyor for English Partnerships, added: "We are delighted to have played a major role in bringing this development forward. As part of the Thames Gateway South Essex growth plans, Basildon has been identified as a significant business expansion area and this commitment by Visteon will be an important catalyst for future growth.
"In partnership with other local agencies, including Basildon District Council, we are bringing forward an adjoining mixed-use scheme at Gardiners Lane that will enhance the Visteon development."
Visteon Corporation joins the list of blue-chip companies for which Akeler has previously developed b2s schemes including Nike, One2One, and the Scottish Daily Record Group.
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