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News Release

London

"Turbo” Letting for Easter Park in Aldermaston, Berkshire

One of the largest Thames Valley lettings of 2010


London, 10th September 2010 – In one of the largest Thames Valley lettings of 2010, Elliott TurboMachinery Limited has taken a 60,000 sq ft warehouse and 8,000 sq ft of grade A office space at Easter Park in Aldermaston, Berkshire.

Easter Park, Aldermaston is a high quality office, industrial and business space scheme totalling 240,000 sq ft and is located midway between Reading and Basingstoke.  The industrial phase itself comprises 12 units ranging in size from 4,200 to 60,000 sq ft and totals circa 140,000 sq ft.

Elliott TurboMachinery Limited has taken a 15-year term with a tenant’s break at the tenth year at a stepped rent, rising to £5.75 per sq ft in the fourth and fifth year, on the 60,000 sq ft warehouse.  Eight of the larger industrial units have now been either let or sold and this letting takes the industrial scheme to 70% let or sold with just four units remaining. 

The same tenant has also taken a new 15-year lease on the adjacent office development, named “The Green” due to its excellent environmental credentials.  Elliott will be the 7th tenant to occupy office space on The Green, where quoting rents are between £15 and £19 per sq ft.

Colin Brown, Director of Easter Group, said: “We are delighted to complete this letting, which secures a long-term occupier for our largest industrial unit and our largest office building in one hit.  Our Aldermaston scheme is now home to some 30 businesses underscoring the quality of the scheme.”
Elliott TurboMachinery Limited is a global leader in turbo machinery and is a wholly-owned subsidiary of Ebara Corporation, headquartered in Haneda, Japan.  The integrated operations of the Elliott Group provide customers throughout the world with reliable, efficient rotating equipment and service.

Jones Lang LaSalle and Haslams advised Easter Group and Baker Davidson Thomas represented Elliott TurboMachinery Limited.