Biggest Pre-let Deal of the Year sees AGCO move to Abbey Park
More than 500 AGCO staff will move to the new HQ building ten years after Massey Ferguson moved from the site to Banner Lane in Coventry. The deal has been facilitated by KWB.
AGCO, one of the world’s largest manufacturers and distributors of agricultural equipment, has taken a 20 year lease on a purpose designed £20 million, two storey, 81,000 sq ft building on the Grade II listed 118 acre parkland site. Work is due to start this summer and the new HQ will be home to AGCO’s European, African and Middle East operations. AGCO is due to move into its new home in Autumn 2006.
KWB’s John Bryce said: “Abbey Park is an idyllic setting for an international HQ building. The parkland site dates back some 400 years and the building designs that persuaded AGCO that this was the place for them, over several alternative sites they were considering, have taken into consideration the need to conserve the surrounding environment. Some of the trees in the park were planted in 1594 – conserving them is a major responsibility.”
David McMullan, director of Pettifer Estates says that AGCO decided on Abbey Park for a number of good business reasons: “Abbey Park offered a number of unique features, whilst offering AGCO the best value for money. It was a winning combination. Quality of life is a major consideration for many employers now who are only too aware that, when recruiting and retaining staff, workplace surroundings are of paramount importance.”
Gary Collar, AGCO’s Senior European Vice President said the move to the site demonstrates his firm’s continued commitment to Coventry and Warwickshire: “Abbey park provides outstanding accessibility and an environment that is probably unique. It gives us a spectacular, high specification building, excellent communication and telecoms systems, generous car parking allowance within a superb parkland setting and with 24 hour security. We needed a site that was worthy of becoming our home for many years and Abbey park provided us with an extremely attractive proposition that made sound business sense.
KWB acted for Pettifer Estates in the transaction.
