Stoford Developments and Merrill Lynch Investment Managers have signed up Wolseley UK Ltd to secure the largest out-of-town office deal within the West Midlands Region this year.

It follows Wolseley UK’s agreement to purchase six acres of Phase II of Spa Park in Leamington Spa for its new 63,250 sq ft UK office headquarters. The initial transaction was worth £10.89million. Work has started on the Tachbrook Road site to build 63,250sq ft of office accommodation by July 2005 although the site is large enough to take up to 113,000 sq ft of offices for which planning permission has been obtained.

Dan Gallagher, Development Manager for Stoford, said: “We are delighted to have agreed such an important investment. Spa Park is a high profile location and its accessibility from major motorway networks has already attracted a number of leading companies to relocate their businesses there. The remaining area provides us with a wide range of development opportunities.”

Marcus Sperber, Director, Merrill Lynch Investment Managers added: “This is an extremely important transaction for Spa Park and we are delighted to have attracted Wolseley UK. Their decision demonstrates the strength and quality of the location.”

Issued on behalf of Stoford Developments by Lois Burley Public Relations Ltd – Tel: 0121 666 7003