25/08/2011

NOKIA SHORTLISTS 4 BUILDINGS FOLLOWING PLANS TO DOWNSIZE AND CLOSE FARNBOROUGH FACILITY

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Nokia has shortlisted four buildings for its new UK headquarters following plans to downsize its office space by at least 70%.

The company, which once dominated the mobile phone industry, will leave its 250,000 sq ft Southwood research facility in Farnborough by the end of 2012 for a smaller space.

The Finland based mobile phone manufacturer is now sizing up four buildings across the south-east including two buildings on Stockley Park in West London, Velocity in Weybridge, Surrey, and 50,000 sq ft of offices being developed at Barratts New Central scheme in Woking.

Nokia owns its Farnborough office and could sell or sublease the building.

Source – Property Week 26/8/11