Orchard lets remaining 25,000 sq ft at Velocity, Weybridge
4 October 2016
Orchard Street sews up 25,000 sq ft letting at Velocity, Weybridge taking it to full occupancy
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has agreed a new 15 year lease with ISS Facilities Services Ltd, a global Nasdaq listed firm, at Velocity One, its office development in Brooklands, Weybridge.
ISS has taken 25,455 sqft of space representing the entire second and third floors.
Orchard Street acquired the Velocity office scheme in Autumn 2015 for its UK Prime Property Fund. Comprising 106,400 sqft of Grade A office space in total, the development space is split across two buildings, Velocity One and Velocity Two. Benefitting from floor to ceiling windows throughout, Velocity has been finished to the highest specifications, achieving an ‘excellent’ rating by the BREEAM environmental assessment method for its sustainable design. Tenants can enjoy the use of a range of amenities, such as generous bike storage and car parking provisions, and top floor roof terraces.
Following the letting to ISS, Velocity is now fully let. Other tenants at the scheme are LG Electronics, Cargill PLC and Tomy UK Co Ltd.
Richard Walters, Partner at Orchard Street, said:
“Velocity stands out as one of the best buildings in the local area, and we are very pleased to have agreed this substantial letting to such a strong covenant as ISS, which illustrates the attractiveness of this asset to long term occupiers.”
Matt Brabin, CEO ISS UK & Ireland, added:
“We are delighted to move to this building which has received such a positive BREEM rating for sustainability. The Velocity site allows us to showcase our integrated Facilities Management delivery in a space suited to our next phase of development as the top global outsourcing firm.
“We look forward to implementing some of the innovative workplace improvements, such as the Watson/ IBM sensor technology that we are spearheading for our clients worldwide at our new offices in Velocity and making this a truly modern, innovative building of which we can all be proud.”
Orchard Street was advised by Strutt & Parker and CBRE and ISS by Matthews & Goodman.
END
About ISS in the UK & Ireland:
ISS is a leading global provider of facility services for public agencies and private sector companies, employing approx 500,000 people worldwide.
For four consecutive years, we have achieved the highest possible rating given by the International Association of Outsourcing Professionals® (IAOP®) in their annual assessment of outsourcing organisations worldwide.
In the UK & Ireland alone, we employ approximately 46,000 employees who are dedicated to delivering high quality support services. ISS provide organisations with every facility solution they might require to support their own core activities. Our services include facilities management, engineering, energy management, catering, cleaning, food and hospitality, front of house, security, consultancy and landscaping.
ISS is committed to doing business the right way. We are actively involved in corporate responsibility and sustainability initiatives and similarly, we strive to ensure that all our people are paid a full and fair living wage.
About Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market with £2.7 billion of AUM (as at 30 June 2024). It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial warehouses, retail warehouses, and offices.