INDUSTRY NEWS

Chocolate giant’s space let

Four different tenants have let part of the London office space formerly used as confectioner Cadbury’s headquarters. A total of 22,700 square feet of the building, at 25 Berkeley Square in Central London, has been leased.

Cadbury was the subject of a hostile takeover in 2009, when the American giant Kraft Foods offered £9.8 billion for it. The offer was rejected, but Kraft came back with a higher offer, valuing the company at £11.5 billion, which was accepted in February 2010.

Since the takeover, Kraft has stated its intention to consolidate UK operations in Uxbridge and Bournville. The third, fourth, fifth and sixth floors of the London building have each been let to a different tenant, for a cost of between £68 and £75 per square foot, and all until at least March 2017.

An additional 26,000 square feet of office space of the ten-storey building remain unoccupied.

 

Image: Flickr (HBarrison)