Morley, advised by Strutt & Parker, has secured detailed planning consent for a 20,000 sq ft extension to Mallards Reach, an office building located in central Maidenhead.

The existing building, purchased by Morley in 2002, consists of 19,332 sq ft of office accommodation and is let to French pharmaceutical company Sanofi Pasteur MSD. The extension will be linked to the existing office building on land formerly used by the Local Authority as a public car park. Construction is due to commence shortly with completion expected in autumn 2008.

Once completed Sanofi Pasteur MSD will locate to the new extension whilst the original office accommodation undergoes a comprehensive rolling refurbishment. On completion of the refurbishment, expected in the autumn of 2009, Sanofi Pasteur will take occupation of the total 38,113 sq ft office building on a new 15 year lease at a headline rent close to £30.00 per sq ft.

Renos Booth of Morley comments:

“We identified the development potential of the adjacent Local Authority car park when we originally purchased Mallards Reach. It was by no means a simple feat to secure planning permission at Mallards Reach as there were a number of factors that could have frustrated the transaction. It was an excellent result and one that was only achieved by the hard work of all parties involved.”

Rhodri Shaw, Partner, Strutt & Parker National Markets – Office Agency, adds:

“Morley has produced a programme to successfully enhance their asset whilst finding a solution perfectly suited to their tenant’s expansion needs. The original building was constructed in 1988 and when the works are completed the building will provide approximately 40,000 sq ft of Grade A office accommodation”

Allan Hertz of Allan N Hertz FRICS acted on behalf of Sanofi Pasteur MSD.

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