Legal & General IM Real Assets has secured a 10-year lease with IT services company Ricoh UK to let 10,678 sq ft at Lotus Park in Staines, Surrey.
Ricoh UK has agreed to let the recently refurbished first-floor office at a rent of £32 per sq ft.
Lotus Park comprises 103,000 sq ft of offices across three buildings adjacent to the River Thames.
The region is one of the key office centres in the western corridor, located within the M25, approximately nine minutes from Heathrow Airport and 17 miles south-west of central London.
L&G holds the asset in its open-ended Managed Property Fund, which is currently valued at £3.4bn.
Mark Russell, senior fund manager of the Managed Property Fund at L&G, said: “Our team of asset managers take a proactive and best practice approach to asset management, enhancing the attractiveness of our underlying assets and ensuring that we attract the best occupiers.”
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