Royal London Asset Management has successfully completed another letting at Abingdon Business Park in Oxfordshire – 26,000 sq ft at the new Foxcombe development on behalf of the Royal London Property Pension Fund.
OpTek Systems which provides laser processing solutions, has taken a 20-year lease on Units 1 and 2 at the new Foxcombe development having outgrown existing facilities at Blacklands Way, also on the Park. The company has started the installation of a full mezzanine fit-out which will bring the operational facility to almost 50,000 sq ft.
OpTek Systems, a Humanetics Group company was founded in 2000 by Mike Osborne and two entrepreneurial engineers in Oxford. Following its continued rapid growth, the business has already expanded its facilities in Asia, and in the US has opened a new facility in Massachusetts to add to its existing site in South Carolina. The company has been recognised by two successive Queen’s Awards for International Trade. In the UK, the move into Foxcombe in April 2021 will bring all three of its Oxford operations under one roof, in a purpose designed building.
Mike Osborne, CEO of OpTek, explained: “We work with some of the world’s largest companies, manufacturing some of the smallest components to the accuracy of a micron. There are very few other laser companies that can develop solutions that manufacture at volume with such microscopic accuracy. Our laser micromachining and optical fiber-processing capabilities serve a wide range of applications. More than 80% of the top 10 companies in medical devices, electronics, aerospace, and data communications partner with OpTek and the company also serves energy, automotive, pharmaceutical and several other markets.
“Our growth has been phenomenal – doubling every few years. The increased demand for sophisticated fiber optics and micro manufacturing has exploded with the growth of technologies like 5G, sensors, and nano electronics. It is a very exciting time for OpTek and our expansion into new purpose-built headquarters facility at Abingdon Business Park will enable us to expand our operations further.”
Foxcombe is owned by Royal London Asset Management with XLB appointed as a strategic advisor across Abingdon Business Park.
Will Hawking at Royal London Asset Management said: “The site and facilities at Abingdon Business Park are excellent and Foxcombe Court reflects the ‘best in class’ development philosophy at RLAM. It is fantastic that Optek are expanding and have committed long term on the park. Despite various headwinds to the economy in 2020, we are pleased to have completed a number of significant lettings at the Park over the year.”
Foxcombe covers a total of 49,317 sq ft and there is one of 10,000 sq ft unit remaining. It comprises warehouse and high-quality office accommodation with glazed entrances, LED lighting, air conditioning and ample parking.
This transaction follows the letting of 4,000 sq ft at Blacklands Way to Millbrook Heathcare, a leading provider of community equipment which relocated from Milton Park. This follows other occupiers Briggs Equipment UK, M-Flow Technologies, Hitachi High-Tech Analytical Science and UPS committing to the Park earlier in 2020.
Abingdon Business Park is a 50-acre mixed-use scheme comprising 414,000 sq ft of office, research and development and industrial property. The secure site benefits from 24-hour security, an on-site park management team and is home to over 35 businesses employing over 2,500 people.
Located at the heart of Oxfordshire’s economic and knowledge corridor units are available from 2,500 sq ft and there is a further 15,000 sq ft of offices currently being developed.