Gazeley is proposing to speculatively develop a 746,478 sq ft warehouse at its Magna Park Lutterworth scheme in the East Midlands subject to planning. The huge facility is one of four properties on a speculative scheme totalling 1.3 million sq ft being brought forward by Gazeley following its acquisition of
Turley has announced two new additions to its planning team in London – Christoper Schiele joining as associate director and Luke Sumnall as assistant planner. Both men join from GL Hearn. Christopher specialises in high-density regeneration projects. He brings a wide range of experience working on large-scale residential-led mixed-use developments
Printworks Manchester continues its strong performance in 2019 as DTZ Investors announce new lettings that diversify its offer and further cement its position as the destination for entertainment in Manchester. Having welcomed Treetop Adventure Golf and Escape Reality in 2018, the introduction of a 12-lane Tenpin bowling venue completes an
Gazeley is proposing to speculatively develop a 746,478 sq ft warehouse at its Magna Park Lutterworth scheme in the East Midlands subject to planning. The huge facility is one of four properties on a speculative scheme totalling 1.3 million sq ft being brought forward by Gazeley following its acquisition of a 220-acre tranche of land from DB Symmetry, known as Magna Park South. In a planning statement regarding the new mega shed and the intention to raise its external eaves height to 21m, Gazeley said it wished to “proceed as swiftly as possible following a grant of planning permission” on the scheme. A spokesperson for Gazeley said: “Having received outline planning permission for the broader expansion of Magna Park, we can confirm that we have submitted a Reserved Matters application for four new buildings at Magna Park Lutterworth. We have seen strong levels of customer demand for space at Magna Park Lutterworth and this application is a response to that demand. We look forward to working with the Council and other stakeholders in the coming months to bring forward this exciting development.” The new cross-dock mega shed will boast 18m eaves, 100 dock and eight level access doors and will have parking for 557 cars and 150 trailers on a 31-acre site. As usual with Gazeley it will also include a host of sustainability features and will reach BREEAM Excellent. The last time such a large warehouse was built speculatively in the UK was in 2005/6 when HelioSlough, a joint venture between Slough Estates – now SEGRO – and Helios Properties, built the 750,431 sq ft Nimbus warehouse in Thorne, near Doncaster, South Yorkshire. The scheme was forward funded to the tune of £42 million by CBRE Investors and was originally let to DHL/MFI on a ten-year lease at an annual rent of £3.075 million in 2007. The cross dock property has 15m eaves as well as 75 dock and 13 level access doors. Following the collapse of MFI, the property was relet to The Range on a £20 year lease at a rent believed to be around £4 per sq ft with five yearly rent reviews. It was sold to Tritax Big Box REIT for £48.5 million, reflecting a net initial yield of 6.1% on the asset acquisition, assuming 5.8% purchase costs. The new speculative mega shed is being constructed on a 220-acre plot of land bought by Gazeley to the south of Magna Park Lutterworth from Tritax Symmetry. This is allowing Gazeley to create what is considered the largest dedicated logistics park in Europe in one ownership. The combination of all three sites Magna Park, Magna Park North and Symmetry Park – now known as Magna Park South – totals some 1,360 acres and could eventually have 15.8 million sq ft of buildings. DTRE and Burbage Realty are advising.
Turley has announced two new additions to its planning team in London – Christoper Schiele joining as associate director and Luke Sumnall as assistant planner. Both men join from GL Hearn. Christopher specialises in high-density regeneration projects. He brings a wide range of experience working on large-scale residential-led mixed-use developments across London and the South East. In recent years, Christopher played a key role in the delivery of various complex regeneration schemes with a particular focus on sites around the Queen Elizabeth Olympic Park. Luke spent the last two years on a planning graduate scheme. He has worked on a range of mixed-use schemes across London and the South East. Speaking about the appointments, head of planning London, Ben Wrighton said: “It’s a great time to join Turley as we continue to strengthen our reputation and build our offering across the city. The growing number of large-scale mixed-use projects planned and under construction in the capital has led to an increase in demand for trusted advisers which these new members of the team will play a key role in servicing.” Turley’s London team is currently engaged on a number of high-profile projects in the region including New Covent Garden Market, Great Ormond Street Hospital and the redevelopment of Whiteleys Shopping Centre.
Printworks Manchester continues its strong performance in 2019 as DTZ Investors announce new lettings that diversify its offer and further cement its position as the destination for entertainment in Manchester. Having welcomed Treetop Adventure Golf and Escape Reality in 2018, the introduction of a 12-lane Tenpin bowling venue completes an asset management project which will transform 50,000 sq ft of unoccupied space with new day time uses. Anchored by Vue, Nuffield Health and a spectrum of popular food and beverage operators including Hard Rock Café, Nando’s, Wagamama and more, Printworks ended 2018 with a footfall of over 8.1 million, its highest footfall since 2011. The addition of Tenpin to the brand mix responds to changing leisure and customer trends by extending the Printworks offer and hopes to broaden the appeal of the venue to a wider customer base. Once viewed as a late-night destination, Printworks is becoming a round-the-clock venue for the whole family. The food and beverage offer at Printworks is also changing. On the ground floor independent restaurant, NY By Night recently opened offering wood stove pizza and craft beer. Additionally, a brand new all-day restaurant, bar and club concept inspired by the garden of Eden opened this summer replacing Tiger Tiger. Ben Haller for DTZ Investors said: “Since purchasing Printworks in 2017, DTZi has been committed to building on the existing brand offer in order to present our customers a varied mix of national and independent brands that can be enjoyed by the whole family. The introduction of brands such as Tenpin and NY By Night really works towards cementing Printworks as an all-day-round haven of entertainment in the center of Manchester.” Duncan Garood, CEO of Tenpin, said; “This is an exciting opportunity to develop our city centre proposition in the heart of Manchester’s entertainment hub. The Printworks site will open in 2020, offering visitors 12 lanes of bowling fun and a range of experiential entertainment to enjoy along with a bar and menu of easy to eat, delicious food.”
