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London, 1st November 2011 - Hermes Real Estate Investment Management Limited (HREIML), one of the largest institutional real estate managers in the UK with over £5.8 billion assets under management, and GCE Data Centres, have today announced the acquisition of 43 Western Road, Bracknell, from DTZIM for £2.5 million.
The 3.2 acre industrial site has the benefit of a detailed planning consent to develop a data centre of up to 60,000 square feet in phases from 5,000 square feet upwards.
Demolition of the existing building is scheduled for November 2011, with an initial 2 MVA of power being delivered to the site in Spring 2012, and a further 8 MVA during 2012.
HREIML and GCE Data Centres are offering occupiers a powered shell or modular data centre on a pre-let basis. HREIML and GCE Data Centres have appointed Jones Lang LaSalle’s Data Centre Advisory group to advise on the marketing and delivery of the data centre.
Chris Darroch, Fund Director at Hermes Real Estate Investment Management Limited, said: “Sites such as Bracknell which have planning and power are a rarity indeed. Therefore, we believe this site, which lies in the centre of the IT corridor, will strongly appeal to the data centre market.”
Gary Lees, MD of GCE Data Centres, stated: “We are excited to be working with Hermes on this project, that we will be launching formally in the very near future.
Commenting on current occupier’s requirements, Charlie Carden, Associate Director said: “We are delighted to be working with Hermes and GCE on this project where we are able to rapidly meet current occupier’s demands. The site offers the scope to deliver anything from a design and build, powered shell through to fully fitted, to suit occupiers specific IT needs.”
Tudor Toone and Savills advised HREIML and GCE Data Centres.
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