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US Technology Giant Launches Major London and South East Office Search

JLL Named To Lead Property Hunt As Cisco Considers UK HQ Move

Lakeshore comprises three offices totalling 541,886 square feet in size with a lettable area of 272,000 square feet. It is fully let to multi-national technology firm Cisco as its UK headquarters on a long-term lease with a break in 2025. Evans Randall bought the campus from Scottish Widows in 2006 for £156 million.

Globally, Cisco has been opening so-called ‘Smart Building’ offices, in New York and most recently in Atlanta, to measure how best to design offices following the pandemic. The Atlanta location is a 64,000-square-foot hub in the CODDigital communications technology company Cisco, based in the United States, has launched a search for an up to 150,000-square-foot headquarters in the west London and South East region ahead of a lease running out at its giant campus in Heathrow, CoStar News can reveal.

Cisco appointed JLL for the search, which market sources say is for a building able to house between 50,000 square feet and 150,000 square feet. That would be a significant reduction from the 272,000 square feet it occupies at its Lakeshore campus in Feltham near Heathrow.

Singapore’s Frasers Property bought Lakeshore, at 9-11 New Square, Bedfont Lakes from Evans Randall for £135 million in 2020.A complex in the city’s tech-heavy Midtown market.

Frasers has built a £1 billion portfolio of business parks in the UK since 2017 including four business park assets bought from Oaktree in 2017 for £743 million – the 1.5 million-square-foot Winnersh Triangle in Reading (sold for £365 million); Chineham Park, Basingstoke (£142 million); Watchmoor Park, Camberley (£42 million); and Hillington Park in Glasgow (£137 million) – and Farnborough Business Park, which it bought from Harbert and XLB for £174.6 million later in 2017.

JLL declined to comment.

Source : costar.com