All systems go for CarVal at Stockley as Kuehne + Nagel takes UK HQ

CarVal Investors and operating partner Chester Properties signed Kuehne + Nagel for its relocated UK head office at 1 Roundwood Avenue at Stockley Park as it prepares to launch a separate headquarters building at the Heathrow business park.

Kuehne + Nagle has signed a 10-year lease on 15,650 sq ft at the recently refurbished 1 Roundwood Avenue in Stockley Park, where it will relocate its UK head office.

Rents have not been disclosed but it is thought that K+N would be paying close to the quoting rents of £33.50 per sq ft.

Kuehne + Nagel is a leading global provider of fully integrated supply chain solutions with more than 1,000 offices in over 100 countries. 1 Roundwood Avenue is also occupied by children’s charity World Vision International.

“We are delighted to welcome Kuehne + Nagel to 1 Roundwood,” said Robert Balick, Senior Managing Director and Head of Real Estate Europe at CarVal Investors. “This lease highlights the quality of the refurbishment undertaken and confirms the reputation of Stockley Park as one of the leading business parks in the South East.”

Kuehne + Nagel was represented by Clews & Co and CarVal Investors was advised by JLL and Cushman & Wakefield.

CarVal Investors and Chester Properties bought 1, 3 and 5 Roundwood Avenue in July 2012 and comprehensively refurbished space released by previous tenants as and when leases ended.

The duo recently completed works at 5 Roundwood Avenue, which will be formally launched in September.

An extensive refurbishment was carried out at the property to create a self-contained 47,000 sq ft grade A headquarters. In addition to a remodelled reception and an enhanced full height glazed atrium, significant upgrades were carried out to allow a 1:8 sqm occupational density to "meet occupiers’ increasing requirement to drive greater occupational efficiencies". The property has 152 car parking spaces resulting in a 1:307 sq ft ratio.

1, 3 and 5 Roundwood Avenue are held by the CVI Outer London investment programme, advised by CarVal Investors and majority-owned by Partners Group.

DTRE, JLL and Cushman & Wakefield are joint letting agents on the Roundwood Buildings.