July 2018 - Costar
Frasers Property, part of the Singaporean group that has businesses in Singapore, Australia, Southeast Asia, China and Europe, has completed two lettings along the M3 Corridor at Watchmoor Park in Camberley, where Flagship Foods has taken 12,500 sq ft and photonics specialist Jenoptik 22,500 sq ft, with both leases agreed on 10-year terms.
Frasers said occupancy has lifted from 72% to circa 90% in the six months since it bought Watchmoor.
Frasers Property UK’s business park portfolio also includes Winnersh Triangle in Reading; Farnborough Business Park and Hillington Park, Glasgow.
Frasers Property International bought the portfolio of four UK business parks for £686m from Oaktree, reflecting a net initial yield of around 6.35%, at the end of last year.
Frasers was represented by BNP Paribas Real Estate and Hollis Hockley; Vyaire Medical Products was represented by Spring 4, Flagship Foods was represented by JLL and Jenoptik was represented by Campbell Gordon.