US investment banking giant Goldman Sachs has secured long-term occupier DLL to move to a new headquarters at Croxley Park in Watford for a further 10 years, taking 20,000 square feet at the speculatively developed Building 1.
DLL, a vendor finance partner, serving equipment and technology manufacturers, has been based in Croxley Park for almost 20 years in three different buildings.
At 85,000 square feet, Building 1 is one of Watford’s largest speculative developments and achieved practical completion in 2021. Jewellery group Signet, advised by Colliers, signed for 20,000 square feet at the building last year.
The duo join more than 60 businesses at the wider Croxley business park including Smith & Nephew, Kodak, Medtronic and Anytime Fitness.
Croxley Park representative Paul Felton of Stimpson said in a statement: “This continued commitment from DLL shows the investment in the built environment as well as the social and enlivenment initiatives are essential to occupier retention and understanding.”
Vijay Shah, finance director for DLL said: “The combination of a great location, good quality office environment and the extensive events and services programme, makes it a very productive space for our company with our mutual goal of community wellbeing and sustainability at its heart.”
Stimpsons, CBRE and Bray Fox Smith are acting as the office leasing agents for the landlord.
Set in 75 acres of landscaped green space, Croxley Park comprises 700,000 square feet of office and business space.
It was leased by Watford Borough Council on a 40-year term from Columbia Threadneedle in 2019, with an option to buy the freehold at the end of the term. Goldman Sachs bought the 40-year council let income strip from the latter for circa £400 million in August 2019, in a deal revealed by CoStar News.