Patrizia jv agrees letting to IWG’s Spaces

Germany’s Patrizia and joint-venture partner Clearbell Capital have leased space at The Bower in Stockley Park, Uxbridge, to Spaces. Spaces has signed a 15-year lease with a break in year 10 for the 45,824 sq ft ground floor. Parent company IWG will act as a guarantor for the duration of the lease. Stockley Park is a business park with 144,000 sq ft of office space. It is located 3.5 miles north of Heathrow Airport. London-based fund management firm Rockspring, acquired by Patrizia in 2017, and Clearbell forward purchased Aberdeen Property Trust’s The Bower in Stockley Park in 2015 for between £25m and £30m. Other occupiers include Apple UK, Marks & Spencer and Canon. Duncan Jarvis, director at Clearbell, said: “This greatly improves the amenity offering in the building, including a café in the atrium, and further aids future occupiers of The Bower to flex in and out of the co-working space. This letting also cements our multilet strategy at this flagship building, which is now being offered in suites from 7,000 sq ft to a total of 100,000 sq ft, on the first and second floors.” Cushman & Wakefield, CBRE and DTRE advised Clearbell and Patrizia. Doherty Baines advised Spaces. To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette