Xyratex owned 500,000ft2 facility with one major tenant & no strategy to deal with the vacant space (costing Xyratex £2m p/a).
Property Division developed to actively manage Langstone Technology Park infrastructure and FM contracts.
Xyratex sought advice from a traditional property company that recommended selling / demolishing the site.
Formation of separate property company – Havant International Limited which purchased the site for £18m & new concept of multi-tenanted site was born.
£15m was invested in flagship site, Langstone Technology Park and the site was declared at full occupancy.
Havant International renamed 'Fasset Ltd'.
Fasset started a relationship with Ordnance Survey and became their Managing Agent for two buildings.
Langstone Technology Park is sold for £54.2m
Fasset undertook consultancy for BAE systems and set up a successful systems technology park.
Air Products had a facility in Surrey for sale. Fasset explained a new direction that solved a number of problems. Hersham Technology Park was formed and 55,000ft2 was transformed and offered to prospective tenants.
Fasset became Facilities Manager of the 170,000ft2 Caswell Science & Technology Park in Northampton.
Fasset achieved average occupancy levels of 91% across all sites.
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