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16 July 2002
The pre-letting of this building in May, one of the most significant in the area this year, and its subsequent forward sale confirms the Group's strength and ability in commercial development
Graham Cherry, Chief Executive of Countryside Properties PLC
Countryside Properties PLC, the developer of sustainable mixed-use and mixed-tenure communities, announces that it has sold its Aymer House office development in Chertsey, Surrey to private investors for £20.3 million. The site was developed through a joint venture with US developer Liberty Property Trust.
It was announced last month that Compass Group PLC, the world's largest food service company, would be taking a pre-letting of the entire 4,409.2 sq m (47,461 sq.ft) building on a new 20 year lease. The building is scheduled for completion next month.
Aymer House is part of "The Chertsey Opportunity", Countryside's joint initiative with Runnymede Borough Council to transform the central area of Chertsey, into a new business and residential community.
Graham Cherry, Chief Executive of Countryside Properties PLC commented:
"Aymer House is the penultimate phase of 'The Chertsey Opportunity', one of Countryside's larger ongoing mixed-use urban regeneration schemes. The pre-letting of this building in May, one of the most significant in the area this year, and its subsequent forward sale confirms the Group's strength and ability in commercial development.
The scheme addresses the current high demand for high quality investment opportunities let on long leases to blue-chip companies. We are delighted with the success of both Aymer House and 'The Chertsey Opportunity' as a whole."
Countryside Properties has also submitted a fresh planning application for the final phase of "The Chertsey Opportunity". This new phase comprises a mixed-use, residential led development comprising 93 apartments arranged around an attractive landscaped garden, together with some 832.6 sq.m (8,962 sq.ft.) of retail and restaurant accommodation around a new town square.
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Information correct as at 16/07/2002