In the largest Thames Valley transaction for over five years, Strutt & Parker has let, on behalf of Melford Capital Partners, 159,000 sq ft of Grade A office space to Rackspace at Hyde Park Hayes, in addition to the 100,000 sq ft they already occupy at the Park.

Rackspace, a global internet hosting and cloud computing provider, has pre-let HPH5, a 127,000 sq ft headquarter building, on a 10 year lease. As part of the deal they will also occupy 22,300 sq ft in HPH2 and an additional 4,000 sq ft in HPH3 at Hyde Park Hayes.

Rackspace already occupies 94,000 sq ft at Hyde Park Hayes in HPH1 together with space in HPH3 after it relocated to the business park from Stockley Park in 2010. This latest deal sees their total occupation at the park reach 260,000 sq ft and they retain the option to pre-let the proposed HPH4, which offers 64,000 sq ft of Grade A office space.

The acquisition forms part of Texas based Rackspace’s expansion in the UK; work on HPH5 will begin this summer with completion due for early 2015.

Jeremy Rodale, partner in Strutt & Parker’s national markets office agency, who represented Melford Capital Partners said: “Hyde Park Hayes has played a major part in transforming Hayes into a key business destination within the Thames Valley. By creating a high quality, modern office campus Melford has been able to meet the changing and growing needs of a major international occupier like Rackspace. The wider regeneration projects currently taking place across Hayes, including Crossrail, will ensure that it can continue to offer unrivalled connectivity and is well placed to meet the developing needs of occupiers seeking space in the Thames Valley.”