01 Jun 2015 | 07:52 am |
International law firm Pinsent Mason advises Abstract Securities on Virgin Atlantic's new head office.
Virgin Atlantic has entered into an agreement for lease to occupy the whole of Abstract’s Leonardo development in Manor Royal, just south of Gatwick Airport.
The move follows Virgin Atlantic’s return to profit in 2014 and represents a major letting coup for Abstract who only started their speculative 110,545 sq. ft. Grade A office scheme late in 2014.
It is intended that Virgin Atlantic will relocate to the new building from its existing Head Office in Crawley Business Quarter during 2016.
This building will provide complementary functions to the airline’s other building, The Base, in Fleming Way, which it will continue to occupy/own. Leonardo is due to complete at the end of 2015. Abstract will work with Virgin Atlantic to complete a bespoke fit out during early 2016 prior to occupation and the airline will take a 16.5 year term from 1 April 2016.
Mike Reid, property partner at Pinsent Masons, said: "Having helped Abstract buy the site and achieve planning approval, we are delighted to have played a part in the next phase of the development with this pre-let to Virgin Atlantic.”
Abstract has been one of the most active office developers in the UK over the last 3 years delivering close to a million sq. ft. of new Grade A office space in Croydon, Aberdeen, Glasgow and the Leonardo Scheme near Gatwick.
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