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20 August 1998
Cadbury Schweppes Pension Trust Limited is forward funding the entire development with an end value of circa. £5.7 million. Transcentral will comprise some 5080 sq.m (54,681sq.ft) of industrial/warehouse accommodation in 4 units ranging from 615 sq.m (6,620 sq.ft) to 2592 sq.m (27,900 sq.ft). The large unit fronting Basingstoke Road will be totally self contained with a high office content. Countryside take possession of the site in October 1998, and will be commencing development immediately with practical completion anticipated in May 1999.
Mark Chatham, Director of Countryside Properties (Commercial) PLC said "We are delighted that Cadbury Schweppes share our confidence in the Basingstoke Road area of Reading for industrial/warehouse development. With the new A33 Relief Road opening shortly, and the close proximity of Junction 11 of the M4 Motorway, what is already an established industrial area is set to become the new focus for industrial/warehouse development in the town. New industrial schemes in Reading and the surrounding area are in short supply and our units will be ready for occupation early next year".
Rents of £8.00 psf are anticipated.
ENDS
For further information please contact:
Mark Chatham
Director
Countryside Properties (Commercial) PLC
26-28 Mount Row
London W1Y 5DA.
Telephone: 0171 408 0099
Fax: 0171 408 0772
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Information correct as at 20/08/1998