The site is currently occupied by Toshiba?s national distribution warehouse on a lease expiring in 2003, and GPE has sold the site with planning consent for 85,000 sf of offices with a parking ratio of 1:215 sf, with an estimated end value of £27 million.
Great Portland Estates is currently restructuring its porfolio to concentrate on central London offices. The Frimley scheme was put on the market because the M3 market, strongly dependent on the telecommunications secto, r looks less stable than GPE?s preferred central London market.
Great Portland was advised by King Sturge while John Laing Property was represented by Allsop & Co.
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