Sound signings at The Old Vinyl Factory
by James Wood Thu 22 January 2015, 10:46 am
New signings have been confirmed at The Old Vinyl Factory development in Hayes for three businesses, including SONOS, the global technology firm which produces wireless music systems.
Joining SONOS at The Shipping Building – an art deco office space at the site – will be the privately-owned web hosting provider Host Europe Group (HEG), and the global IT firm which serves the air cargo industry, CHAMP Cargosystems.
Formerly the headquarters of record label EMI, the £250 million scheme is being developed by Cathedral. The project is set over 6.9ha, and will feature 630 homes and 70,000sq m of space for commercial and leisure facilities. Cathedral estimates the project will generate 4,000 jobs by 2022.
The three companies to move into The Shipping Building have each taken out a 10-year lease. SONOS will move into a 540sq m space on the first floor, HEG has taken 825sq m on the fifth floor and CHAMP 940sq m on the sixth floor. The building is now 85% let, with 1,800sq m remaining.
The ambition for The Old Vinyl Factory is for it to become the UK’s first full-service incubator for hi-tech manufacturing entrepreneurs, combining research and development space with commercial training, mentoring and seed-funding, as well as a small-batch production facility.
Richard Upton, chief executive of Cathedral Group, said: “We have adopted a new approach at The Old Vinyl Factory, offering something different to innovative UK and international companies that want to be here in this great location west of London, and whose investment is critical to the growth of London’s creative economy.”