SEGRO to sell business park for £200m

SEGRO is set to sell its business park, IQ Winnersh, for around £200 million.

The commercial property owner has appointed Jones Lang LaSalle to handle the sale of the park.

At the moment, around 40 companies are located at IQ Winnersh. These include Jacobs Engineering, Microchip, Virgin Media and Harris Systems. BMC Software is the newest tenant in the park after the firm took a ten-year lease on a 36,425 sq ft property on the park back in April of this year. BMC has located its headquarters on the site.

In addition to the big businesses at Winnersh, the park also has a WHSmith store, a restaurant, coffee shop and hotel.

But there are approved plans in place for a further two million sq ft of office space on an 80 acre site that adjoins the park. The proposed extension is in addition to the £100 million redevelopment of the park that has already been undertaken by SEGRO. The company expanded the park in 2008/9 and then rebranded it from the Winnersh Triangle to IQ Winnersh in May 2010.

IQ Winnersh is a drop in the ocean of SEGRO's £4.7 billion worth of assets. The majority of its properties are located around the western corridor of London, but it also owns assets in Germany, France, Poland and other areas of Europe.

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