M&G Real Estate has signed a deal with global pharmaceutical group Merck Serono, which will take up residence at 5 New Square, Bedfont Lakes, near London’s Heathrow. The letting was secured on a 10-year lease and spans the entire first floor of the building, covering 20,655 sq ft.
Merck Serono, which focuses on biopharmaceuticals and is part of Germany-based pharmaceutical giant Merck KGaA, has agreed a deal worth £32.50 per sq ft and will move its UK headquarters from Kings Cross to Bedfont lakes, which is a mile away from Heathrow and 15 miles west of central London. The company will join the likes of IBM, Birds Eye, Cisco Systems and World Duty Free at the 375,000 sq ft business park later this summer.
Aaron Pope, Asset Manager, Offices at M&G Real Estate, says: “Demand for newly refurbished Grade A office space in the south east remains strong, particularly at developments such as New Square, which is close to Heathrow airport and a stone’s throw from West London. New Square’s number of high calibre national and international occupiers highlights the draw of well-connected and specified offices for a broad range of businesses.”
M&G Real Estate was advised by Knight Frank and Merck Serono was represented by CBRE.