VSL Report Spate of Activity at Abingdon Science Park
Acting on behalf of a private investor, VSL & Partners acquired the freehold interest of Pentagon South 1 and 2 at Abingdon Science Park and has subsequently let the buildings to Smart Garden Products and GKN Hybrid Power.
Both buildings totaling 31,158 sq ft of office and business space were acquired from Sophos Plc. Savills acted on behalf of Sophos Plc.
GKN Hybrid Power will occupy Pentagon South 1 comprising 16,248 sq ft. The company is at the forefront of hybrid flywheel technology within motorsports. In April 2014 GKN announced that it had acquired Williams Hybrid Power from Williams Grand Prix Engineering Ltd and in the same year it received funding from a joint government and automotive industry fund for projects to improve fuel efficiency and reduce carbon emissions. GKN will relocate from their existing premises at Grove Technology Park and is investing heavily in their new home, refurbishing the premises to incorporate a new test and development centre in order to progress and further advance their R & D operations.
Smart Garden Products, a rapidly growing company that produces and distributes decorative and solar-powered products for the garden, has now taken a 10-year lease on Pentagon South 2 comprising 14,910 sq ft. The company is relocating from premises a fifth of the size in order to facilitate their ongoing expansion.
Tom Barton, director at VSL explains: “This was a complex transaction involving two unique high tech office and production buildings. Our client required some quite complex advice on this matter and we believe we have secured the best possible deal.”
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