BAE Systems will move all its avionics division from 370,000 sq ft at the Grove in Stanmore, north-west London to a new 200,000 sq ft design-and-build office campus at its 10-acre site at Capability Green in Luton. BAE staff in other divisions at the Grove are moving to locations including Bristol.
Buckingham Securities is the frontrunner in the £50m deal with BAE Systems to buy the new building and lease it to BAE for 21 years at £19 per sq ft. Buckingham Securities is in competition with Active Asset Investment Management, the footballers' fund and others. AIM was in exclusive talks with BAE at the end of last year before a deal fell through. BAE Systems is being represented by ATIS REAL Weatheralls and CB Richard Ellis.
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Sunday, February 29, 2004
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