LGIM hammers out Stanley Black & Decker office deal

Legal & General Investment Management has secured Stanley Black & Decker as an occupier for its Tempo Maidenhead building, which is set to complete in spring next year. The US-headquartered tool company will take 30,066 sq ft on the top floor. It was previously based at Bath Road in Slough. Tempo sits within L&G’s Managed Fund, which invests in freehold and leasehold properties across the UK. Oxford-based coffee shop Missing Bean has also signed for space in the Maidenhead development. The café, located at street level, will be a wine bar in the evenings. Alan Carswell, property director at Stanley Black & Decker, said: “The combination of a fantastic space, great location and the comprehensive amenity offering makes Tempo a perfect fit for our company. The values the building holds of sustainability, community and quality align seamlessly with our business goals, making our future move to Tempo Maidenhead exciting – both for our staff and the business.” Rob Codling, senior fund manager at LGIM, said: “This letting confirms that the market for occupiers seeking high-quality space for their employees is continuing to thrive. We strongly believe that a commitment to delivering an outstanding product with abundant amenities will attract the best occupiers and generate a strong rental income for our investors.” Toby Lumsden, Tempo Maidenhead representative and director at Bray Fox Smith, said: “The best-in-class space matches their market leading brand, and we are eager to welcome them as our first occupier, when we complete in spring 2024. It has been a pleasure to be involved in the best deal recently seen in the Thames Valley.” Colliers advised Stanley Black & Decker. Knight Frank and Bray Fox Smith acted as office leasing agents for the development. To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Image from tempo-maidenhead.com