TAG Farnborough Airport complete purchase of Meadowgate
22 April 2013
TAG Farnborough Airport has completed the purchase of 1 Meadowgate Avenue, a 38,000 sq ft office building situated on the perimeter of the airfield on Farnborough Business Park, previously occupied by Autodesk. The transaction completed on 27th March 2013.
Farnborough Airport is the only UK airport dedicated to business aviation and has undergone a transformation in recent years with over £100 million invested in state of the art facilities in its bid to become what Brandon O'Reilly, CEO of TAG Farnborough describes as the "world's leading business aviation gateway". Airport amenities include a modern terminal, concierge services, 240,000 sq ft of hangar space and office accommodation. The Aviator Hotel is also part of the TAG Group.
This transaction follows the recent announcement that Costco, the Seattle Headquartered Wholesaler have acquired approximately 11 acres on the Park and are now constructing a 140,000 sq ft retail warehouse on the Park which is due to open in July. Costco will create 160 new employment positions at the new facility.
Hollis Hockley, jointly with Cushman & Wakefield and Jones Lang LaSalle, are the appointed marketing team for HEREF Farnborough Limited, the owners and operators of Farnborough Business Park.