P&G sells Egham of­fice to Royal Hol­loway Univer­sity

Staines Informer - - NEWS -

CON­SUMER prod­ucts gi­ant Proc­ter & Gam­ble (P&G) has sold its Egham of­fice to a univer­sity.

P&G an­nounced this week it had agreed to sell its re­search cen­tre at Rusham Park to Royal Hol­loway, Univer­sity of Lon­don.

The com­pany will oc­cupy the land for the next three to five years as part of the deal.

Royal Hol­loway said it plans to se­cure sim­i­larly longterm ten­ants.

Pro­fes­sor Paul Layzell, prin­ci­pal of Royal Hol­loway, said: “P&G’s de­ci­sion to sell Rusham Park rep­re­sented a unique and long-term op­por­tu­nity for the col­lege to ac- quire prop­erty next to our his­toric cam­pus.

“Fol­low­ing the ap­proval of our es­tate Mas­ter Plan in 2015, our fo­cus is on the de­vel­op­ment of our ex­ist­ing es­tate and the con­tri­bu­tion it makes to build­ing on Royal Hol­loway’s rep­u­ta­tion as one of the UK’s lead­ing uni­ver­si­ties.

“We see the pur­chase of Rusham Park as a legacy we will leave for the fu­ture cus­to­di­ans of Royal Hol­loway. It will be the re­spon­si­bil­ity of a new gen­er­a­tion to evolve its use and en­sure that it sup­ports the univer­sity’s am­bi­tions for their time.”

P&G said it would con­tinue to eval­u­ate its long-term op­tions on the site.

Cas­san­dra Kua, fa­cil­i­ties & real es­tate man­ager from P&G, said: “We are pleased to an­nounce the suc­cess­ful com­ple­tion of the sale of Rusham Park to Royal Hol­loway, Univer­sity of Lon­don. The Col­lege plays an ac­tive role in the lo­cal com­mu­nity in Egham, which mir­rors P&G’s own com­mit­ment, and we look for­ward to the fu­ture as ten­ants.”

In July 2015, P&G sold 43 of its beauty brands to Amer­i­can beauty prod­ucts com­pany Coty in a $15bil­lion deal.

Ear­lier this year, Coty said the deal is ex­pected to in­crease its cost sav­ings to ap­prox­i­mately $780 mil­lion a year.

Pro­fes­sor Paul Layzell of Royal Hol­loway.

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