Breaking Property News 04/02/25
Daily bite-sized proptech and property news in partnership with Proptech-X.
Storm Interface and Active Silicon sign new contracts at Waterside Court, Langley
RO Real Estate has just announced that it has concluded the final letting in a succession of new deals at Waterside Court Langley. Following a letting to ADB Safegate in February 2024, Keymat Technologies t/a Storm Interface have agreed to relocate within the estate to reduce their footprint. This allowed Active Silicon to increase their footprint on the estate to encompass the whole of Unit 1 (8,754 sq ft) and takes the estate to 100% let with a new WAULT (weighted average unexpired lease term) of 6.68 years and WAULTB (weighted average unexpired lease term to breaks) of 5.74 years.
The tenant lineup at Waterside Court has now become somewhat tech focussed with US based satellite communications business, Northrop Grumman, also on the estate. They all sit alongside a state funded music school for Langley Hall Primary Academy Trust.
Ed Davidson, Asset Management Director, RO Real Estate commented: “This estate has seen significant rental growth over the past 5 years, driven by the arrival of the Elizabeth Line which can be accessed via Langley Station, a 2-minute walk from the site. This convenience combined with strong car parking provision has made it a compelling prospect for our tenants.
Curating this final tenant mix has been a real labour of love. We were very keen to work with our existing tenants to accommodate the requirements on the estate. We are very fortunate to have tenants that love the estate and the location and were keen to work with us to get a result that worked for everyone. I really believe we’ve achieved that and set up a long-term tenant mix position to thrive. There have been several challenges in getting to this final result, but the collaborative working relationship developed between us, the tenants and amongst the tenants themselves has been really gratifying. This is a thriving ecosystem set up for long term success.”
Langley Station is 350 metres from the building and provides a regular and fast service to London Paddington, with a fastest journey time of 29 minutes, and links to the rest of the Thames Valley. Langley’s rail connections have further been significantly enhanced by the introduction of the Elizabeth line providing connections to the West End, the City and Canary Wharf. Langley also has excellent road communications, being only 1.5 miles north of the M4 (Junction 5). The M4 provides fast road access to Heathrow, central London as well as Slough, Maidenhead and Reading.
The RO is a family-owned group of companies established in 1932. The RO has always invested in a diverse range of interests which today embraces commercial property, housebuilding, and venture capital.
RO Real Estate, the commercial property division, has built over 1.1 million sq. ft. to date and currently manages over 300,000 sq. ft. of office, industrial, and retail. All acquisitions are funded through existing cash resources, meaning that the RO is able to move quickly if the appropriate investment criteria are met.
Its award winning housebuilder, Metis Homes, builds modern homes with traditional values and has created a diverse portfolio of bespoke, high-quality homes in prime locations – from traditional properties in rural settings to contemporary town centre schemes.
RO Capital Partners is the Group’s venture capital arm. Capital Partners is an active, early-stage investment partner principally focusing on: Proptech (the use of technology to innovate the built environment and real estate market); Cleantech (solutions addressing the challenges of environmental sustainability and the transition to a low carbon economy); and Fintech (the disruption of traditional business models in financial services).
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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