SMART DEALS FOR KENNEDY WILSON EUROPE REAL ESTATE

March 1, 2017

Kennedy Wilson Europe Real Estate PLC (LSE: KWE) has leased more space at the newly refurbished Theta House, Lyon Way in Frimley.

Following the letting of the entire ground floor in October 2016 to Surrey Borders Partnership NHS Foundation trust, the existing tenant, Amer Sports UK Ltd, has committed to a new 10-year lease with a tenant break option at the 5th year commencing October 2017 on the 16,644 sq ft entire first floor. Amer Sports has also taken a further 4,007 sq ft on part of the second floor. The rent on both leases is £22.00per sq ft.

Only 13,200 sq ft of refurbished offices on the remainder of the second floor is available to let at a quoting rent of £23.50 per sq ft.

As a further boost to the M3 letting market KWE has let the remaining 13,660 sq ft of vacant offices at its Form 1 investment at Bartley Wood Business Park in Hook, Hants. EDMI Europe Limited has relocated to the building from Green Park  in Reading, taking the ground floor wing at a rent of £17.50 per sq ft, on a new 10-year lease with a tenant break option at the 5th year. EDMI Europe Limited is one of the leading smart metering solutions providers in the world.

This letting coincides with the completion of a comprehensive upgrade of the Form 1 reception and main atrium areas.  The first floor, which comprises 33,000 sq ft of modern work space, will be available from July 2017.

KWE was advised by Hurst Warne and Hanover Green on Theta, Frimley and by Hurst Warne and Knight Frank on Form 1, Hook.

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