Office & Data Centre
Kao Park, Harlow
35
Investment Summary
- The Park stretching 35 acres has a long history of technological development being the place where Sir Charles Kao and George Hockham invented the fibre optic cable in 1966 changing the world of optical communication leading to modern broadband today. The discovery was so significant that Kao was awarded the Nobel Prize for Physics in 2009.
- The site was purchased as a science and research centre for Northern Telecom (later called Nortel) and comprised numerous office buildings, laboratories, car parking and a nursery.
- In January 2009, Nortel was placed in administration and the company vacated the site.
- Due to the bespoke nature of the property for the Nortel Group and the condition of certain buildings, the options to re-let the Property to one or more tenants in their present form were severely limited.
- Planning was secured to extensively demolish the existing campus and split the site to transform the area into two Grade A office buildings totalling c.200,000 sq ft (known as Kao One and Kao Two), alongside a state-of-the-art Data Centre campus. Kao Park is now the only campus within 30 miles of London to combine 200,000 sq. ft. of Grade A office accommodation with a state-of-the-art data centre, set within a landscaped business park.
Asset Management Highlights
- A pre-let of the entirety of Kao One office building totalling 110,000 sq ft completed to defence innovation specialists Raytheon UK, and global electronics supplier Arrow Electronics on long-term leases.
- Further national occupiers have subsequently been secured on long-leases including Pearsons Education, The Princess Alexandra Hospital NHS Trust and the Hertfordshire Partnership University NHS Foundation Trust.
- Planning consent secure for 4 data centres, one of which has completed, with the second under construction.
