9/17/2008 12:04:00 PM
Carphone and O2 invest in large property developments
Carphone Warehouse and O2 are looking to spend a total of £8m on separate property redevelopments.
The pair are ploughing ahead with the large investments, despite the cautious economic climate. Carphone is applying for planning permission to invest £6m into its Tulketh Mill call centre in Preston, and O2 is in the process of a £2m development at its Slough HQ.
Carphone hopes to start construction in December this year at ‘The Mill’, a listed building it acquired in 2005. The retailer is planning to construct residential apartments, which will replace existing industrial buildings.
Carphone will also build a ‘restaurant/pub’ on the other side of the site, away from the apartments. The retailer will submit a planning application for the work at the end of this month.
Meanwhile, O2 has been granted permission to carry out a £2m development project at its HQ in Slough. Slough Borough council gave the operator the green light earlier this month to carry out the work, which will begin at the start of 2009. O2 expects the development to take around nine months.
O2’s redevelopment work includes a link building between its existing office blocks on Bath Road and a new 110,000 sq ft building a few doors down. The link will be used as a reception area and as more office space, and the remaining space at the back of the building will be used as a car park.
This latest work will be one of the final steps towards its completion. The link building will create a campus totalling 200,000 sq ft in size.
Ronan Dunne, CEO of Telefónica O2 UK Limited, said. ‘O2’s new home represents an important step in the history of the business; it highlights our lasting commitment to Slough and delivers a fantastic working environment for our employees.’