CAPREON, the real estate business of the Noé Group, has completed a major office space letting at the Kao Business Park, Harlow to The Princess Alexandra Hospital NHS Trust. Capreon signed the deal at the end of 2019. However, due to the COVID-19 pandemic, the Trust were unable to occupy the units until this month. The letting was one of the largest north of the M25, following the agreement to lease 27,383 sq ft of prime office space. The long-term deal will see the NHS Trust move to the high-tech facility on a 15-year lease.
The agreement of the lease was a positive bookmark to the end of 2019 for Capreon, with one of its biggest deals of the year and at 27,383 sq ft one of the largest in terms of space in 2019 in the area north of the M25.
Developed by the Noé Group, Kao Park is one of the leading technology business parks in the country. Located in the Cambridge-London corridor, the business park will offer The Princess Alexandra Hospital access to the latest cutting-edge technology.
Kao Park is the only campus within 30 miles of London to combine 215,000 sq. ft. of Grade A office accommodation and a state-of-the-art data centre within a landscaped business park. The new development by the Noé Group reflects the site’s historic heritage for innovation. Kao Data Campus is named after Charles Kao who, 50 years ago, co-discovered the technology behind fibre optic cable whilst working on the site for Standard Telephone Laboratories (later Nortel). His work won him the 2009 Nobel Prize for Physics.
The Princess Alexandra Hospital NHS Trust oversees three hospitals in the region, serving over 350,000 people and joins Pearson Education, Arrow, Raytheon and Virgin Care Services at Kao Park. The addition of the NHS Trust builds on the sustained growth of the area, expanding its reputation as a powerhouse of technology and innovation. The Trust has begun to move its administrative staff to Kao Park.
Zvi Noé, partner at the Noé Group, said: “This deal was a great way to finish 2019. Despite the disruption from the COVID-19 pandemic we are pleased to see the Trust occupying the property and hope to continue a lasting relationship in the park. The deal is testament to the quality of the park and the technology that it supports.
Michael Meredith, director of strategy and estates at The Princess Alexandra Hospital NHS Trust, said: “Kao Park has provided us with a fantastic opportunity to invest in our people and to transform the way we deliver clinical support services.
“This high quality, great value accommodation is a cornerstone for our flexible working policy and provides the perfect collaborative working environment for our people.”
Kao Park has generated a lot of interest since its opening. With 59,274 sq ft of the 79,022 sq ft building now leased, the remaining 19,748 sq ft is being marketed by joint agents CBRE, Derrick Wade Waters and Lee Baron, and likely to command a great deal of interest throughout the remainder of 2020.
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