CBRE Advises on significant letting deal at Causeway Park
Global real estate advisor CBRE has advised XLB and AIMCo on the landmark letting of 2 Causeway Park in Staines upon Thames to payroll and HR solutions provider ADP.
2 Causeway Park, a newly refurbished Grade A building totalling 47,500 sq ft, has secured the largest letting in Staines upon Thames for 7 years. The last deal over 40,000 sq ft in the town was at 1 Causeway Park, also owned by AIMCo/XLB, which was pre-let in part to Gartner Inc in 2019.
Alexander Johns, Partner at XLB says “We are thrilled ADP have chosen to relocate to 2 Causeway and welcome them to the building and wider park. To have comprehensively refurbished and relet the building during a pandemic, in a time of unprecedented challenges and change to the office sector, is testament to the quality of the building, the Causeway Estate and the team. We now look to secure a tenant for the remaining space in 1 Causeway (view the video here) and to deliver the Aldi and Lok’nStore later this year.”
Hugo Del Mar, Senior Director of Corporate Real Estate at ADP says “We are delighted to be relocating to 2 Causeway Park, the recently refurbished building fits well with ADP’s global sustainability program and the location works well for our UK business. Once the fit-out works have been completed, we look forward to welcoming our associates, clients and partners to our new office.”
CBRE advised the landlord on this transaction and C&W advised ADP.
This is an extremely morale boosting letting for the town and the wider market. As we emerge from the pandemic its fantastic to see occupiers moving forward with their real estate decisions and it will be the best in class buildings similar to 1 and 2 Causeway Park that will reap the rewards.