South Gyle Trade Park offers investors asset management opportunities and an attractive income profile South Gyle Trade Park has been brought to the market by Lismore Real Estate Advisors for offers in excess of £12.8m, on behalf of abrdn. The quoting price reflects an attractive initial yield of 7.5%. This
Grosvenor has today published a report setting out Liverpool ONE’s role in the physical, economic, and social renaissance of Liverpool. Opened in 2008, the 42-acre retail and entertainment destination transformed Liverpool city centre, connecting the city back to its waterfront and acting as a catalyst for wider regeneration activity. Over
Award-winning shared ownership provider SO Resi recently launched its latest phase of new homes in the capital, SO Resi Hendon Waterside, comprising 42 studio, one and two-bedroom apartments, as well as two and three-bedroom duplex homes. According to research from Zoopla, the average first time buyer deposit in London now
CBRE Selling Prominent City Centre Office and Leisure Investment 86 Deansgate, a prominent office and leisure development, has been launched to market by the Investment Properties team at CBRE Manchester, acting on behalf of Swiss Life Asset Managers UK. CBRE is seeking offers in excess of £9.55m, reflecting a “topped
A major milestone for Greater Manchester Mental Health NHS Foundation Trust’s (GMMH) new flagship adult mental health inpatient unit has been reached with a topping out ceremony on Thursday 21 September marking the completion of the highest point of the build and the last piece of steel frame being fixed
Plans have been approved for Countryside Partnerships to develop an additional 204 mixed tenure homes in Teesside. Countryside Partnerships North East, was chosen by Homes England to complete the third phase of the £119 million Kirkleatham Green project, near Redcar, in April this year and submitted a planning application in
Plans to develop a multi-level last-mile logistics scheme on Mandela Way in Southwark have been given the green light. This is the latest scheme in British Land’s 2.9m sq ft pipeline. The site sits close to the junction of New Kent Road, Old Kent Road and Tower Bridge Road and
As the autumn season approaches, construction companies and house builders are urged to prioritise site safety in the face of changing weather conditions, particularly strong winds. Rethync Ltd, a leading innovator in construction site solutions, introduces its Multisite steel hoarding as the essential answer to these safety concerns. Phil Chadwick,
From industrial applications to artistic ventures, laser-cutting techniques have gained widespread popularity. It’s not difficult to see why – these techniques offer unparalleled precision and efficiency. But like any technological advancement, it’s crucial to examine its environmental implications. The Basics of Laser Cutting Laser cutting operates by focusing a high-powered
BDC 319 : Aug 2024
South Gyle Trade Park offers investors asset management opportunities and an attractive income profile South Gyle Trade Park has been brought to the market by Lismore Real Estate Advisors for offers in excess of £12.8m, on behalf of abrdn. The quoting price reflects an attractive initial yield of 7.5%. This rare and prime multi-let trade park investment is located within Edinburgh’s premier industrial location and offers an attractive income profile, as well as strong asset management opportunities to increase both income and capital value. Set on a site of 12.31 acres, the estate is split into four distinct components, with an overall floor area of 139,650 sq ft. This is set across eighteen terraced and solus trade counter units, three light industrial units and a single office building of 4,172 sq ft. The park also fulfils a “last-mile” function, given its critical location and excellent connectivity, being adjacent to key motorway infrastructure and Edinburgh’s arterial road network. Colin Finlayson, Director of Lismore Real Estate Advisors said: “This is a rare opportunity for investors to acquire a prime trade park asset, ideally placed in within the Edinburgh’s premier trade and light industrial location.” “South Gyle Trade Park offers a secure and well-diversified income profile, as well as significant opportunities to grow income through active asset management. “This asset has great potential and we anticipate strong interest from a wide range of investors.” The park offers an excellent and diverse mix of tenants, with good covenants, including Network Rail, Thistle Timber & Building Supplies, Wolseley, D&G Autocare, Geo Amey, Martin Plant Hire, Dofos and CityFibre. The contracted WAULT is 8.1 years to expiry and 7 years to the nearest breaks. South Gyle and its surrounding area comprise a mix of uses, including trade, light industrial, distribution, business, retail, leisure and residential. Nearby occupiers include G4S, UPS, Royal Mail, Wolseley, Screwfix, Halfords, Speedy Services, Virgin Media, RBS, Lloyds Banking Group, Tesco Bank and Aegon Asset Management. South Gyle Trade Park is situated both north and south of South Gyle Crescent, the principal arterial route through South Gyle Industrial Estate. Lismore Real Estate Advisors is the sole selling agent for South Gyle Trade Park. Building, Design & Construction Magazine | The Choice of Industry Professionals
Grosvenor has today published a report setting out Liverpool ONE’s role in the physical, economic, and social renaissance of Liverpool. Opened in 2008, the 42-acre retail and entertainment destination transformed Liverpool city centre, connecting the city back to its waterfront and acting as a catalyst for wider regeneration activity. Over the last 15 years, Liverpool ONE has: Source: Grosvenor management data and economic impact analysis conducted by Deloitte An early example of Levelling Up in action, Liverpool ONE was developed by Grosvenor in partnership with Liverpool City Council. Designed to revive the city’s fortunes by creating 2.5 million sq. ft. of retail and other uses, it is one of the largest city centre regeneration schemes of this century. Thanks to a shared vision and an effective public private partnership between Liverpool City Council and Grosvenor, the complex project was completed within an ambitious timetable to coincide with the city’s year as European Capital of Culture in 2008. Its opening reactivated the centre of the city, re-establishing Liverpool’s status as a pre-eminent retail destination, propelling the city from the UK’s 17th most popular retail destination to fifth. Over the last 15 years, Grosvenor’s management of Liverpool ONE has seen it become one of the UK’s leading retail and entertainment destinations, with average spend per head increasing by 89%, sales increasing by 195% and the catchment area increasing by 77%. The destination has consistently demonstrated its ability to attract brands to open their first stores outside London, or to choose Liverpool ONE as the home of their portfolio flagship. In the last five years alone, Grosvenor has signed, renewed or regeared almost 70 brands. These include international leaders like Inditex, with Liverpool ONE the only destination outside London to have Zara, Bershka, Pull&Bear and Stradivarius. The destination is also home to the largest JD Sports in the world and the £10m Gravity MAX, which represents the pinnacle of the entertainment experience brand’s portfolio of locations. Alongside the considerable economic impact, the destination has played an important role in the community, with the Liverpool ONE Foundation donating £3m to support young people and promote positive mental health and wellbeing. It has also been a willing partner in supporting the city in hosting global events including Eurovision 2023 where a full programme of free events took place across Liverpool ONE’s streets and green spaces. Rachel Dickie, Executive Director of Investment at Grosvenor, commented: “Whilst today marks 15 years of Liverpool ONE, Grosvenor’s commitment to the city, first as developer, now as co-owner and manager of Liverpool ONE dates back nearly 25 years to the inception of the project in 1999.” “From the outset, we were committed to creating a new city centre to an exceptional level of quality. This, combined with a focus on contemporary urban design, place shaping and sensitivity to local identity has underpinned Liverpool ONE’s attractiveness to occupiers and visitors for almost a generation.” “A willingness to invest for the long-term and build effective partnerships are vital to the success of the UK’s towns and cities. This report shows the positives that can come from bold and creative regeneration. And, despite the increasing constraints on the public and private sectors, we need to learn the lessons from success stories like Liverpool ONE to drive future growth and meet the challenges faced by communities across the UK.” Leader of Liverpool City Council, Cllr Liam Robinson, said: “Liverpool ONE is a phenomenal asset for our city. Its design didn’t just reshape our city centre, it reimagined it. Its offer didn’t just reinvigorate our retail offer, it reinvented it. Its appeal didn’t just stay within the city, it reached out across the UK and beyond. In many ways Liverpool ONE redefined this city’s potential. It realised a new city centre where our amazing waterfront no longer felt disconnected. As a destination, an employer, and a partner, it’s been a hallmark of excellence these past 15 years and shows every sign of continuing to be so. Here’s to everyone who helped it on its journey and here’s to another 15 years of success.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Award-winning shared ownership provider SO Resi recently launched its latest phase of new homes in the capital, SO Resi Hendon Waterside, comprising 42 studio, one and two-bedroom apartments, as well as two and three-bedroom duplex homes. According to research from Zoopla, the average first time buyer deposit in London now stands at a staggering £63,750 , compared with the UK average of £34,500. SO Resi Hendon Waterside will offer a more accessible route to homeownership, with the new homes exclusively available to purchase through shared ownership. Shares in the homes at Hendon Waterside will be available from 25%, with prices starting from £84,375, which means that a deposit for a home could be as low as £4,218.75. The development will appeal to young professionals and commuters in the capital and surrounding Home Counties looking to place a foot onto the property ladder. All homes incorporate a high specification as standard, with features such as laminated worktops and upstands, fully fitted kitchens with Zanussi and Electrolux appliances and selected apartments including a parking space too. Open-plan living is also incorporated here, with generously proportioned bedrooms for ample space for working from home needs. Kevin Sims, Director of Sales at SO Resi, comments: “The average cost of a first time buyer deposit in London continues to rise, so it is little surprise that many young people feel priced out of buying a home in the capital. Shared ownership is becoming an increasingly attractive prospect for buyers, thanks to its flexibility and low five per cent deposit requirement. At SO Resi Hendon Waterside, prices start from £84,375 for a 25% share which is a far more achievable goal for many aspirational first time buyers. “Hendon is an appealing location for young people, thanks to its fantastic amenities, excellent connections and most importantly, a more accessible price point when compared to other London postcodes. We are especially looking forward to introducing our larger three-bedroom duplex apartments, which offer a unique chance for families looking for more space in the capital to make use of the shared ownership scheme. Previously, we have seen extremely strong demand on homes at this development and predict this phase to be no different as first time buyers look to escape the rental trap and get onto the property ladder.” Hendon Waterside forms part of the wider £9.6 billion North West London regeneration scheme by Barnet and Brent Borough Councils. The development sits in the heart of the Welsh Harp Reservoir which offers scenic trails, waterside footpaths and green sheltered woods for residents to enjoy. For retail options, the borough’s rejuvenated Broadway has seen a range of well-known shops, bars, and restaurants open in the town centre. Further afield, Brent Cross Shopping Centre is just a five-minute drive away and serves as North London’s go-to shopping and entertainment destination. Located in Zone 3 on the London Underground, the development has excellent transport links offering services from Hendon Railway Station, which is just a short walk from the development, and Hendon Central tube station, reaching central London via the Northern Line in under 20 minutes. Road connections also will serve residents well, with the M1 and M25 motorways within easy reach, and Heathrow Airport approximately half an hour away. SO Resi Hendon Waterside offers a collection of 42 studio, one and two-bedroom apartments and two to three-bedroom duplexes available through shared ownership, with prices starting from ££84,375 for a 25% share in a studio home [full market value: £337,500]. To find out more, visit www.soresi.co.uk or call 020 8607 0550. Building, Design & Construction Magazine | The Choice of Industry Professionals
CBRE Selling Prominent City Centre Office and Leisure Investment 86 Deansgate, a prominent office and leisure development, has been launched to market by the Investment Properties team at CBRE Manchester, acting on behalf of Swiss Life Asset Managers UK. CBRE is seeking offers in excess of £9.55m, reflecting a “topped up” net initial yield of 10% and a low capital value of £195 per sq ft. Situated on the main Manchester City Centre thoroughfare, 86 Deansgate has 48,967 sq ft of commercial space. The five upper floors feature open plan, Grade A offices with flexible floor-plates from 2,100 sq ft to 8,600 sq ft, with two ground floor prime retail units and a basement containing 19 parking spaces. Multi-let to a range of professional office occupiers including Reed Recruitment, Slater Heelis and Resource Solutions, the property also has a vibrant ground floor presence with leisure operators Las Iguanas and Yours Restaurant & Bar in occupation. The 12 occupiers provide excellent diversification of income, with 63% derived from the offices and 37% from the leisure. Contracted passing income of £749,528 per annum reflects an average of £20.82 per sq ft over the offices and £30.81 per sq ft over the leisure. With the current passing rents reflecting 50% discount to prime new build space, investors have opportunities to add significant value by reinvigorating 19,354 sq ft of available office space, as well as through active asset management with the existing tenants. Additionally, historic planning permission could be implemented to create a two-storey ‘glass box’ extension to add a further 14,000 sq ft of Grade A space on 6th and 7th floors. With immediate access to Exchange Square, home to Harvey Nicholls and Selfridges, 86 Deansgate is in an area which is set to undergo significant investment and development as well as being part of the St Mary’s Parsonage Strategic Regeneration Framework. Will Kennon, Executive Director, CBRE Investment Properties team commented: “The surrounding micro-location of Deansgate and St Mary’s Parsonage is on the cusp of some of the most exciting new commercial-led development with schemes such as; Albert Bridge House (by Oval), Alberton (by Bruntwood), 39 Deansgate (by Candour) together with Property Alliance Group’s extensive mixed use redevelopment at Renaissance undoubtedly extending the city’s prime office core. 86 Deansgate, which sits centrally in between these developments, is therefore set to be a major beneficiary, and we would expect the asset to benefit from substantial occupier demand and rental growth over the coming cycle.” Building, Design & Construction Magazine | The Choice of Industry Professionals
A major milestone for Greater Manchester Mental Health NHS Foundation Trust’s (GMMH) new flagship adult mental health inpatient unit has been reached with a topping out ceremony on Thursday 21 September marking the completion of the highest point of the build and the last piece of steel frame being fixed in place. Work commenced on the construction of North View on the North Manchester General Hospital (NMGH) site in August 2022. The new mental health unit is the largest capital project that GMMH has undertaken. GMMH’s Deputy Chief Executive, Andrew Maloney, Chair of Manchester Foundation Trust, Kathy Cowell, NHS England’s Regional Delivery Director, Tom Myers, and Chief Executive of NMGH, Ian Lurcock, formally marked the occasion alongside representatives from GMMH’s Principal Supply Chain Partner, Integrated Health Projects (IHP), the joint venture between VINCI Building and Sir Robert McAlpine. North View is a 150-bedroom adult unit set to provide much-needed space and modern facilities for adults with mental health needs from across Manchester. The £105m development will see the creation of a state-of-the-art inpatient unit hosting spacious single bedrooms, each with a private en-suite shower room, as well as a variety of indoor activity areas, meeting rooms for family visiting, multiple gardens, spaces for therapeutic artwork and a café. The steel frame of the construction has now been completed and work continues to clad the exterior to make the build watertight and enable the interior fittings and first-fix electrical and mechanical works to commence. Marc Reed, Associate Director of Capital, Estates & Facilities for GMMH and Project Director for North View, said: “We continue to make fantastic progress on the new unit and remain on programme for North View being complete and ready for patients in autumn 2024. The ‘topping out’ ceremony marked the installation of the final piece of steelwork in the buildings super-structure, with the development now really taking shape. “I’m really pleased to see us reach this important milestone in the project, with our fantastic new development a step closer to reality. “We are continuing to engage with communities to influence the interior design of North View and it’s exciting to see the next phases develop as construction rapidly progresses.” Andrew Maloney, GMMH’s Deputy Chief Executive, said: “I was honoured to attend the topping out ceremony and see first-hand the progress that has been made on this state-of-the-art mental health inpatient unit. It is fantastic to see the building taking shape, giving an insight into the life-changing development it is going to become. “This is more than just a building – it will be a unique healthcare setting that will benefit and serve the local community for years to come. The project is close to the hearts of those involved, including service users, carers and clinicians who have supported decisions on the design of the building so that we can deliver the best possible care for patients. It’s a massive investment for our local communities and I’m looking forward to it being fully up and running.” The development is part of an exciting vision for North Manchester General Hospital (NMGH) to improve health and wellbeing for local people over the next 10 to 15 years. It will replace the Park House mental health unit, which currently serves as the inpatient unit for the area, and is being built in an alternative location on the hospital site. This will allow the new development to be fully constructed without disturbing current patients and the day-to-day operation of services. Building, Design & Construction Magazine | The Choice of Industry Professionals
Plans have been approved for Countryside Partnerships to develop an additional 204 mixed tenure homes in Teesside. Countryside Partnerships North East, was chosen by Homes England to complete the third phase of the £119 million Kirkleatham Green project, near Redcar, in April this year and submitted a planning application in May. Now approved, the popular development can continue to offer homes that meet the various housing needs of the area, improving both choice and quality for local people. Work on the third phase of the Teesside homes development is expected to begin in November this year and will include the creation of affordable homes, homes for private rent and homes for open market sale via the Linden Homes brand. The designs for the homes on this third phase have been created following feedback from phase one customers. Countryside Partnerships is already working on phase one and two of the project – constructing 375 homes for sale, shared ownership and private and affordable rent – and a specialist residential village of 75 homes, for people with a specific housing need. Key to securing this latest contract, Countryside Partnerships has risen to Homes England’s challenge to build homes at pace, enabling residents to move in quickly – without compromising on quality. Adopting the same mixed tenure approach to this £44 million third phase will allow this successful model to continue. Development partners to manage the affordable and private sector rental properties will be announced in due course and it is expected the first residents will be able to move into these new third phase homes by Autumn next year. The Home Builders Federation (HBF) also awarded a five-star builder status for the work already completed on the development, following liaison with open market sale and affordable rented customers who have moved into properties completed during phase one of the project. Building, Design & Construction Magazine | The Choice of Industry Professionals
Plans to develop a multi-level last-mile logistics scheme on Mandela Way in Southwark have been given the green light. This is the latest scheme in British Land’s 2.9m sq ft pipeline. The site sits close to the junction of New Kent Road, Old Kent Road and Tower Bridge Road and will deliver a last mile logistics hub for Southwark and central London. The former Southwark Council car pound will be redeveloped to feature four floors of flexible, high-quality, sustainable logistics space with exceptional access to local consumers and central London making it suitable for a range of prospective occupiers. The asset’s ground floor logistics space provides access for a variety of distribution vehicles including HGVs and cargo bikes, while upper floors will be served by lifts. In line with British Land’s ‘Greener Spaces’ pillar of its 2030 sustainability strategy, the scheme will target a BREEAM Excellent rating and implement low-carbon materials, and a circular economy strategy to lower embodied and operational carbon emissions. British Land’s pipeline of urban logistics projects in Greater London has a gross development value of £1.3 billion. It includes, alongside Mandela Way, an additional project adjacent to the Old Kent Road on Verney Road, the Finsbury Square Car Park and The Box at Paddington Central, which received planning consent earlier this year. Additionally, British Land received approval in July to deliver 455,000 sq ft of multi-level logistics space at Heritage House, Enfield, located near Junction 25 of the M25. Mike Best, Head of Logistics at British Land, said: “Mandela Way is the latest scheme in our London urban logistics pipeline to receive planning consent following approvals at both Paddington Central and Enfield earlier this year, enabling us to bring forward another high quality logistics project and continue to address the acute undersupply of sustainable, modern warehousing in Greater London.” Building, Design & Construction Magazine | The Choice of Industry Professionals
As the autumn season approaches, construction companies and house builders are urged to prioritise site safety in the face of changing weather conditions, particularly strong winds. Rethync Ltd, a leading innovator in construction site solutions, introduces its Multisite steel hoarding as the essential answer to these safety concerns. Phil Chadwick, Managing Director of Rethync comments: “Autumn presents unique challenges for construction sites, and ensuring site safety is paramount. Rethync’s Multisite steel hoarding is engineered to withstand the elements while providing enhanced security options and supporting environmental sustainability, making it the ideal choice for construction projects this season. “With all our jobs, we provide wind loading calculations as standard for added safety. And for sites facing particularly harsh autumn winds, we offer site-specific installation amendments to enhance resistance, including narrower post spacings, larger foundations, enhanced security and height options, or the addition of backstays. “All this is in line with the construction industry’s goals of environmental sustainability, and the Multisite hoarding we provide at Rethync is designed with recyclable benefits in mind. The recyclable nature of the materials used in steel hoarding allows for reduced waste, the option to reuse, and it is recyclable, contributing to a more sustainable and eco-friendly construction process.” As Autumn ushers in unpredictable weather, it is crucial to prioritise site safety on your construction projects. Rethync’s Multisite steel hoarding is your reliable partner in creating a professional and secure site environment during this fluctuating season. With its wind resistance, enhanced security options, and eco-friendly features, their Multisite ensures that your construction site remains safe, efficient, and environmentally responsible. Contact Rethync today for a safer and more sustainable construction experience on 03300 535898 or info@rethync.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
From industrial applications to artistic ventures, laser-cutting techniques have gained widespread popularity. It’s not difficult to see why – these techniques offer unparalleled precision and efficiency. But like any technological advancement, it’s crucial to examine its environmental implications. The Basics of Laser Cutting Laser cutting operates by focusing a high-powered laser beam on a specific point in a material, either melting, burning, or vapourising the substance. Materials commonly used include metals, plastics, wood, and more. The efficiency of this process results from its precision, speed, and repeatability. Yet, as with all manufacturing processes, it’s essential to understand its environmental footprint. Air Quality Concerns Material Waste While laser cutting provides a high degree of accuracy, there is always some material wastage. Unlike traditional cutting techniques, laser cutting can be optimised to reduce waste. Digital models help operators maximise material usage, leading to a more sustainable production process. The Engraving People, for instance, are among those who champion the efficient use of resources, highlighting the balance between innovation and sustainability. Energy Consumption Laser cutting, particularly when using high-powered lasers, consumes a significant amount of energy. It’s crucial for operators to consider the energy source. Renewable energy solutions can help mitigate the carbon footprint of these operations. Furthermore, machine maintenance and ensuring the laser cutters are operating at optimal efficiency can reduce unnecessary energy consumption. The Upside: Reduced Physical Waste The Water Footprint Some laser cutting techniques, especially when dealing with metals, employ water jets in the cutting process or use water to cool down the equipment. This usage raises concerns about water consumption and the potential for contamination. Implementing water recycling systems or using closed-loop cooling systems can help alleviate these environmental concerns. The Path Forward: Sustainable Laser Cutting To harness the full potential of laser cutting techniques without compromising the environment, here are some steps industries can adopt: Conclusion Laser cutting, like any manufacturing technique, comes with its set of environmental challenges. But with conscious effort and technological advancements, it’s possible to engrave a future that’s sustainable and innovative. As the demand for these techniques grows, it becomes increasingly important for industries to adopt eco-friendly practices, ensuring a balanced coexistence of technology and nature. Building, Design & Construction Magazine | The Choice of Industry Professionals
