Tristan Capital Partners has signed an agreement to buy the 407 acre Cody Technology Park site in Farnborough, from defence and security company QinetiQ for £112m.
The acquisition has been made by Tristan's EPISO 6 fund in a joint venture with XLB Property. Upon completion of the deal, QinetiQ will enter into a 15-year lease for its existing footprint, with Cody Technology Park continuing to be the location for QinetiQ’s Group headquarters.
Ali Deha Otmar, Senior Partner and Head of Investments said:
“This acquisition provides our EPISO 6 Fund with the opportunity to deliver a strategic investment programme for Cody Technology Park. We believe the long-term occupation and anchorage of QinetiQ, combined with our strategic vision and investment programme, will reinforce Cody as the premier research and development campus for the aerospace and defence industries across the UK and Continental Europe.
“The business plan involves substantial capital expenditure investment to improve the common areas, tenant accommodation and the overall tenant experience for QinetiQ and the 96 other tenants in the park. The aim is to create a vibrant, forward-looking environment that meets the evolving needs of businesses, and supports and grows the local economy.”
QinetiQ has agreed a £112m sale and leaseback deal with Tristan Capital Partners and XLB for Cody Technology Park in Farnborough.
Tristan and XLB agree £112m S&L deal for Farnborough technology park | BE News
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