According to Andrew Tyldesley partner in charge of business space at letting agent Alldop & Co, the rent equates to £30 ($42.60) per sf against a projected rent of £27.50 ($39) per sf when construction started in 2000.
'We identified the site and introduced it to Castlemore in early 1999. It had planning consent for 56,000 sq ft net of B1 accommodation and was in a strong location; easily accessible from the A4 and M4, adjacent to Slough's main shopping area and within five minutes walk of Slough mainline station,' explained Tyldesley. A revised consent for 67,000 sf was obtained but when the building was completed in the middle of 2001, market confidence in the TMT (telecommunications, media and technology) sectors had evaporated. The letting to BT Cellnet is seen as an important indicator that confidence may be returning.
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