Kennedy Wilson agrees new 15-year lease with ASOS at Leavesden Park in Watford
Kennedy Wilson (NYSE: KW) has agreed a lease on the remaining office space at Leavesden Park, near Watford with ASOS plc, an online fashion retail group.
ASOS has taken a new 15-year term certain lease over 125,000 sq ft of space, which was recently surrendered by BT Group plc. Following a full refurbishment of the office accommodation, ASOS will occupy the space from mid-2019. Simultaneously, ASOS has extended its lease on its existing 75,000 sq ft of space to 15-years term certain.
In total, ASOS will occupy the whole of Leavesden Park. This 200,000 sq ft transaction represents the largest leasing deal in the South East office market since 2016. The building will be home to ASOS’s global Customer Care centre and functions supporting its growth plans.
Mike Pegler, Head of Asset Management of Kennedy Wilson Europe, says: “After a successful transaction to bring ASOS to Watford in 2017, we are delighted to have been able to secure its long-term commitment to expand at Leavesden Park. This is a landmark deal for the South East office market and a powerful commitment from a fast-growing business to create additional jobs in the UK.”