SEGRO plc has completed the sale of SEGRO Park Victoria Road, a 10-acre urban warehouse estate in Park Royal, West London, to Imperial College London for £115 million, marking a strategic milestone for both parties. This sale, made at a premium to the asset’s book value, highlights SEGRO’s successful management
Clowes Developments and its partners are pleased to announce that practical completion has now been achieved on Phase Two of Beauchamp Business Park, a new commercial development in Kibworth, Leicestershire. The development has been delivered by Clowes Developments and its team including IMA Architects, TanRo, Millward Consulting Engineers, Gateley Legal
Valor Real Estate Partners (“Valor”), Europe’s fastest-growing last-mile real estate specialist, has made two strategic acquisitions in London, expanding its logistics portfolio. Acting on behalf of its joint venture with QuadReal Property Group (“QuadReal”), a global real estate investment, development, and management company, Valor has secured two prime last-mile logistics
Paloma Capital has begun a major refurbishment of a key section of its well-established business and logistics park on the outskirts of York. The site, now rebranded as York North (previously Green Park Business Centre), is undergoing a £1.25 million upgrade. The project includes a full renovation of a 12,508
Triton Construction has announced significant progress on its £10 million contract to deliver 85,000 sq ft of industrial space at the Evolve development in Melton West, East Yorkshire, for Wykeland Group. The project, part of the Melton West business park, includes the design and construction of seven industrial units, alongside
Panattoni, the largest logistics real estate developer in the UK and Europe, has signed a pre-lease agreement with DPD, the parcel delivery company, for a 58,000 sq ft facility at its net zero carbon Panattoni Park Sittingbourne development in Kent. Subject to planning approval, Panattoni expects to start construction of
At the end of the summer, one of the leading freight forwarding companies in the airport sector opened a new 5,000-sqm site in the ever-expanding Maglód logistics park, which currently boasts almost 100,000 sqm of warehouse space. The long-term lease agreement between HGL Group Hungary and HelloParks will allow the
Independent property company, Hortons, has secured planning consent for the speculative development of 100,000 sq ft of industrial/warehouse accommodation in the West Midlands. Two new build units of 40,000 sq ft and 60,000 sq ft will be constructed on a five acre plot at Wellington Industrial Estate, Coseley, near Jct
Chancerygate has achieved practical completion on two urban logistics developments in Greater London which provide a combined total of 242,300 sq ft of Grade A urban logistics accommodation. Metroplex Park is located in Tolworth, south west London and Dagenham Logistics Hub in east London. Located in Red Lion Business Park
Construction work on a new low-carbon industrial park at the site of former council offices on Blackbird Road in Leicester is almost complete. Leicester City Council is developing the Blackbird Industrial Park on the location of a previous housing depot, situated near the city centre. It features four buildings that
SEGRO plc has completed the sale of SEGRO Park Victoria Road, a 10-acre urban warehouse estate in Park Royal, West London, to Imperial College London for £115 million, marking a strategic milestone for both parties. This sale, made at a premium to the asset’s book value, highlights SEGRO’s successful management and long-term strategy for the site. Since acquiring the estate in 2009 as part of its purchase of Brixton plc, SEGRO has focused on active management, achieving significant rent growth. However, the site’s age and layout have led to a strategy shift towards securing vacant possession for redevelopment. Currently, the estate is 64% occupied and generates a rental income of £3.2 million annually. The sale marks an exciting new chapter for the site, as Imperial College plans to transform it into a hub for commercial science innovation, supporting early-stage companies whose interests align with the university’s academic mission. This initiative will be part of the ‘WestTech Corridor’, an ambitious development aimed at establishing West London as a globally competitive innovation ecosystem. The site also forms part of wider regeneration plans for the area, developed in collaboration with the Old Oak and Park Royal Development Corporation (OPDC) and Ealing Council. Bonnie Minshull, SEGRO’s Head of London, said: “SEGRO Park Victoria Road has delivered strong results for us over the past decade. This sale enables us to reinvest in our broader London portfolio while supporting the creation of cutting-edge innovation facilities by a world-class institution.” Hugh Brady, President of Imperial College London, added: “Our vision for the WestTech Corridor represents a significant step towards building a deep tech innovation ecosystem in West London. It will drive investment, inclusive growth, and job creation at local and national levels, aligning with the Government’s emerging Industrial Strategy.” The sale represents a win for both SEGRO and Imperial, with SEGRO focusing on reinvestment in its core industrial and logistics spaces, while Imperial College furthers its mission to foster innovation and economic development in London. Advising on the deal were Montagu Evans and Gowling WLG (UK) LLP for SEGRO, with Savills (UK) Ltd and CMS Cameron McKenna Nabarro Olswang LLP acting on behalf of Imperial College London. Building, Design & Construction Magazine | The Choice of Industry Professionals
Clowes Developments and its partners are pleased to announce that practical completion has now been achieved on Phase Two of Beauchamp Business Park, a new commercial development in Kibworth, Leicestershire. The development has been delivered by Clowes Developments and its team including IMA Architects, TanRo, Millward Consulting Engineers, Gateley Legal and Postins Project Services. Phillips Sutton and TDB Real Estate have been the agents marketing the scheme. Beauchamp Business Park is situated on a 15-acre site located on the outskirts of Kibworth between Leicester and Market Harborough on the A6. The site features a series of freehold and leasehold industrial units ranging from 1,270 sq ft to 16,272 sq ft. Phase One, which completed back in July, saw a huge number of interested parties, with over 80% sold before completion. This therefore boosted Clowes’ decision to begin Phase Two. Kevin Webster, Associate Director at Clowes Developments comments: “We are delighted to have achieved Practical Completion on Phase Two at Beauchamp Business Park. Phase One has proven to be a great success with occupiers and investors and with deals already agreed for several of the units in Phase Two we are certain that popularity will continue. I now look forward to seeing it fully operational and a thriving business park over the coming months.” Clowes Developments retained agents TDB Real Estate and Phillips Sutton for Phase Two of the scheme. Sam Sutton, Director at Phillips Sutton comments: “We are thrilled with the success of Phase One at Beauchamp Business Park, with 100% take up. As we move into Phase Two, we are excited to see continued interest, with several units already under offer. This growth not only highlights the strategic importance of our location, but the demand for good quality freehold units in Leicestershire.” Jack Brown, Associate Director at TDB Real Estate adds: “It is fantastic news that we have now reached Practical Completion of Phase Two of Beauchamp Business Park. With Phase One being so popular with both local businesses and investors we anticipate Phase Two will continue this trend. The Units all look fantastic, and present really well in a market which has a shortage of good quality stock” Phase Two has seen the creation of two additional terraces and a semi-detached unit to be used for B1 and B2 use class, ranging in sizes from 2,271 sq ft to 16,272 sq ft. Clowes Developments is one of the UK’s largest and strongest privately-owned property investment and development organisations. Headquartered in Ednaston, Derbyshire, the company are experts in land acquisition and promotion, property development and asset management. Whilst available space at Beauchamp Business Park is limited there does remain some opportunity. Interested parties are invited to contact the site agents, Sam Sutton, Phillips Sutton on 07794 081 052 and Jack Brown, TDBRE on 07969 291 660. Building, Design & Construction Magazine | The Choice of Industry Professionals
Valor Real Estate Partners (“Valor”), Europe’s fastest-growing last-mile real estate specialist, has made two strategic acquisitions in London, expanding its logistics portfolio. Acting on behalf of its joint venture with QuadReal Property Group (“QuadReal”), a global real estate investment, development, and management company, Valor has secured two prime last-mile logistics sites in Barking and Enfield, with a combined gross development value (GDV) of £60 million. Both properties were acquired off-market. In Enfield, North London, the joint venture has acquired Trafalgar Trading Estate, the leading multi-let industrial park in the area. The 79,435 square-foot estate comprises 11 units spread across three terraced buildings and boasts high-quality specifications. Currently, 92% of the property is let to a variety of trade counter and last-mile logistics businesses, with an average lease term of two years. Situated close to the M1 motorway and A10 trunk road, the site offers access to around 6.4 million people within a 60-minute drive. Meanwhile, in Barking, East London, the partnership has secured a 3.49-acre vacant site. The intention is to develop a state-of-the-art, build-to-suit last-mile distribution hub. Future tenants will benefit from excellent transport links, including the nearby A13 and North Circular, as well as Barking’s position as a major industrial hub. Ongoing residential-led regeneration projects in Barking, such as Barking Riverside, are expected to further reduce industrial supply in the area, making the site even more strategically valuable. Jeremy Achkar, Senior Vice President at Valor, said: “The off-market acquisition of the Trafalgar Trading Estate marks our first purchase in Enfield, one of London’s key industrial submarkets. We look forward to expanding our presence in the area over the coming years.” Timour Wielemans, Vice President at Valor, added: “We’re excited to have secured this prime 3.5-acre site in Barking, which expands our London development pipeline to over 700,000 sq ft. Our goal is to deliver our first build-to-suit scheme here, and with the support of our newly established in-house development team, we are well-equipped to manage increasingly complex projects and provide tailored solutions that meet occupier needs.” Thomas Blangy, Senior Vice President at QuadReal Property Group, commented: “These acquisitions align perfectly with our strategy of focusing on high-growth urban logistics markets, where limited supply and strong demand create opportunities for long-term value generation. London’s last-mile logistics sector remains robust, and our partnership with Valor positions us to deliver strategically located assets that meet the needs of occupiers in these important submarkets, ensuring sustainable returns.” The joint venture received advisory support from Altus and SBY for the Barking acquisition. Building, Design & Construction Magazine | The Choice of Industry Professionals
Paloma Capital has begun a major refurbishment of a key section of its well-established business and logistics park on the outskirts of York. The site, now rebranded as York North (previously Green Park Business Centre), is undergoing a £1.25 million upgrade. The project includes a full renovation of a 12,508 sq ft standalone industrial unit, complete with integrated office space, a secure yard and ample parking. Leeds based JP Wild Ltd has been appointed to carry out the refurbishment works to include an internal strip out and full refurbishment of the warehouse space, offices and kitchen/WC areas. Full mechanical and electrical services replacement is also being undertaken as well as external works to the building’s façade, roof, yard space, fencing, and drainage. Practical completion is expected by 01 November. The works are part of a site-wide refurbishment plan by Paloma Capital. Since acquiring the site in 2022 the London based investor has made a considerable investment to significantly upgrade accommodation as well as deliver new purpose designed trade units. It recently secured planning consent for four new industrial/warehouse units totalling 34,400 sq ft. The scheme is now offering design and build opportunities for units ranging from 4,000 sq ft up to 15,400 sq ft. Jeremy Thiagarajah, Director for Asset Management and Investment at Paloma Capital said: “We are pleased to start works to refurbish a large part of the estate to deliver more modern state of the art space for prospective occupiers. York North is already well recognised for its locational benefits and our sustainable approach to repurposing existing space will certainly deliver against undersupply for industrial and warehousing space in this area.” Located on Goose Lane in Sutton-on-the-forest, York North is strategically located just ten minutes from the York Outer Ring Road and close to Clifton Moor. The long established, multi-let site benefits from strong regional connectivity, close to the A59 leading directly to J47 of the A1(M) and wider motorway network. York City Centre is just 8.6 miles away and amenities are close by at Clifton Moor and Monks Cross Shopping Park. Representing agents are the Leeds offices of Carter Towler and JLL. Building, Design & Construction Magazine | The Choice of Industry Professionals
Triton Construction has announced significant progress on its £10 million contract to deliver 85,000 sq ft of industrial space at the Evolve development in Melton West, East Yorkshire, for Wykeland Group. The project, part of the Melton West business park, includes the design and construction of seven industrial units, alongside essential drainage and external works. The site will feature two larger units of 37,000 sq ft and 22,900 sq ft, plus a terrace of five smaller units, each 5,000 sq ft. The steel framework for one of the three main units is nearly complete, with cladding set to begin shortly. Incorporating sustainable features, the Evolve development is equipped with rooftop solar panels, green living walls, and fast electric vehicle charging stations, ensuring the project aligns with modern eco-friendly standards. Paul Clarkson, Managing Director of Triton Construction, shared his enthusiasm for the project: “We’re excited to be working with Wykeland on a development that will create new business opportunities and contribute to the economic growth of the East Riding. Our experience in delivering high-quality commercial developments makes us proud to be a part of the ongoing evolution of Melton West business park.” Looking ahead to 2024, when Triton celebrates its 20th anniversary, Clarkson noted that the Evolve project is a testament to the company’s expertise. “This kind of project demonstrates our capabilities in commercial development, and we’re thrilled to continue our work in the region.” Triton Construction has enjoyed a prosperous 2024, completing notable projects such as SPAR stores in Nafferton and Middlesbrough, as well as St George’s Retail Park in Middleton, Leeds. The firm has also commenced construction on several key developments, including the Cadet Training Centre in Beckingham, Brighouse Market, Barnsley and Preston Youth Zone, and a new teaching block in Huddersfield. Building, Design & Construction Magazine | The Choice of Industry Professionals
Panattoni, the largest logistics real estate developer in the UK and Europe, has signed a pre-lease agreement with DPD, the parcel delivery company, for a 58,000 sq ft facility at its net zero carbon Panattoni Park Sittingbourne development in Kent. Subject to planning approval, Panattoni expects to start construction of the facility, which comprises the second phase of the park, in the fourth quarter of this year and complete it in the third quarter of 2025. Panattoni is targeting a BREEAM sustainability rating of ‘Excellent’ and an EPC rating of ‘A’. Panattoni is already under construction with the 645,000 sq ft first phase of development at the park, comprising two units of 440,000 sq ft (S440) and 205,000 sq ft (S205). Completion of these two units is expected in March 2025. While there is already significant interest in these units, both remain available for tenants. All units are being developed with enhanced sustainability measures within the base specification, including the installation of roof-mounted solar panels and electric vehicle charging points. The park has 5MVa of power available with a further 1.35MVa of power generated from the solar panels. Panattoni is investing £170 million in the development of the park, which is strategically positioned between London and Dover, four miles north of junction 5 of the M2. Alex Mitchell, Development Manager, South East and London, at Panattoni, said: “This pre-let to DPD demonstrates the strong demand for high-quality, sustainable industrial space in the south east. We are excited to begin construction later this year and deliver a state-of-the-art facility that meets DPD’s operational needs while also aligning with our sustainability goals”. Agents at Panattoni Park Sittingbourne are Savills, Avison Young and CBRE. DPD was advised by SBH. Building, Design & Construction Magazine | The Choice of Industry Professionals
At the end of the summer, one of the leading freight forwarding companies in the airport sector opened a new 5,000-sqm site in the ever-expanding Maglód logistics park, which currently boasts almost 100,000 sqm of warehouse space. The long-term lease agreement between HGL Group Hungary and HelloParks will allow the company to expand further within HelloParks Maglód megapark in the future. Located near Ferenc Liszt International Airport, the development has won several prestigious awards and has recently become increasingly popular with leading companies in the air cargo industry. For example, Aeroplex Central Europe Ltd, the region’s largest independent aviation maintenance company, previously leased nearly 8,000 sqm of warehouse and office space on the same site. With this year’s transactions, 90 per cent of the two completed halls in the megapark have already been let. HelloParks Maglód Megapark boasts two national firsts: MG1, which houses HGL Group, was the first industrial property in Hungary to achieve BREEAM New Construction Excellent, while MG3, completed in the second phase, was also the first to achieve an Outstanding rating. The facilities support tenants’ day-to-day operations with sustainable and environmentally friendly solutions. Among the efficiency features are roof-mounted solar panels — which allow the offices to operate with zero primary energy consumption — and HelloParks’ dedicated mobile app. Even the rain that falls on the roof is harnessed and collected in a separate storage tank for irrigation. The common areas will be lit by smart-ready lights, and electric car chargers will be available in the warehouse car park. In addition to state-of-the-art technology, the developer, which will also manage the facilities, offers its partners flexible and customised design solutions that comply with all current regulations and favourable conditions for their further development. The HGL Group, which will soon move into hall MG1, focuses on transporting and handling high-value and sensitive goods that require special care, high speed and increased security. With its exceptional parameters, the site is also perfectly suited to these specialised activities. The company also provides European transport coordination for the major players in the Hungarian film industry and the arrival and customs clearance of a significant proportion of e-commerce goods entering the European Union via Hungary. “Moving to a new, sustainable facility is an important milestone for us and represents a significant stage in developing our ever-growing operations and high-quality services. Throughout the negotiations, we were convinced that HelloParks megapark would provide an excellent solution for our e-commerce business and our customers. The state-of-the-art facility will already house our new roller-bed transport and storage system developed for handling ULD air pallets,” said Csaba Németh, Managing Director of HGL Group Hungary, commenting on the deal. “We are proud to have gained the confidence of the HGL Group and are particularly pleased to be able to support their planned growth. This agreement is a further success of our firmly established development and leasing concept. Our presence in the vicinity of the airport is of paramount importance. With this cooperation, we have once again moved forward in an exciting and crucial market segment,” said AndrásBodahelyi, Senior Business Development Manager of HelloParks. Building, Design & Construction Magazine | The Choice of Industry Professionals
Independent property company, Hortons, has secured planning consent for the speculative development of 100,000 sq ft of industrial/warehouse accommodation in the West Midlands. Two new build units of 40,000 sq ft and 60,000 sq ft will be constructed on a five acre plot at Wellington Industrial Estate, Coseley, near Jct 2 of the M5 motorway. Known as Evolution 40 and 60, the new developments will target EPC A and contain 10m eaves height, a secure yard and parking. The units will have access to secure cycle parking and electric vehicle charging provision, and will be serviced by a new two-way estate road. Remediation works will take place on site before construction of the two new buildings. Hortons has also begun the redevelopment of Wellington House, a former office building on the same estate, which will create a further eight, double height small industrial units. The new units are expected to be available for occupation from Q1 2025. In addition, Hortons has invested in the refurbishment of almost 50% of the existing industrial accommodation at Wellington Industrial Estate, improving the amenity and environmental performance of units. James Slater of Hortons said: “We are very pleased to have gained planning consent for this new development scheme at Wellington Industrial Estate. Evolution 40 and 60 will deliver high quality industrial/warehouse and manufacturing space, within a secure business environment, and we expect to receive considerable interest from the market. “Our strategy of investing in the upgrade of existing buildings has been an important factor in attracting new occupiers to the estate, while our redevelopment of Wellington House will also serve local demand for high quality small business units.” Wellington Industrial Estate is a multi-let estate located off the A4123 Birmingham New Road, within five miles of Wolverhampton city centre. For more information please contact retained agents, Bulleys Chartered Surveyors and Harris Lamb. Building, Design & Construction Magazine | The Choice of Industry Professionals
Chancerygate has achieved practical completion on two urban logistics developments in Greater London which provide a combined total of 242,300 sq ft of Grade A urban logistics accommodation. Metroplex Park is located in Tolworth, south west London and Dagenham Logistics Hub in east London. Located in Red Lion Business Park near the A3 Kingston bypass, Metroplex Park provides 70,300 sq ft of urban logistics space. The development comprises nine highly sustainable leasehold units ranging from 4,490 sq ft to 18,110 sq ft. The development is a joint venture (JV) partnership between Chancerygate and specialist sustainable and impact investor Bridges Fund Management. Dagenham Logistics Hub is a 172,000 sq ft development comprising 14 units. Chancerygate delivered the development in a joint project with a fund managed by Credit Suisse Asset Management, a UBS Group company, and global real estate investor, developer and manager Hines. The scheme was forward sold to investment manager, Padrock, for an undisclosed sum in June 2022. Both Metroplex Park and Dagenham Logistics Hub have achieved EPC A+ and BREEAM Excellent ratings and are targeting being net zero carbon for regulated energy schemes. Chancerygate managing director, Richard Bains, said: “We’re very pleased to have achieved practical completion on these developments. Both Metroplex Park and Dagenham Logistics Hub sit in areas where there is strong demand for new, high-quality, sustainable urban logistics accommodation. “Both of these developments will help satisfy this demand and provide long term economic assets for their respective localities.” Agents for Metroplex Park are JLL, Bonsors and SHW. You can learn more about Chancerygate’s live projects here.Building, Design & Construction Magazine | The Choice of Industry Professionals
Construction work on a new low-carbon industrial park at the site of former council offices on Blackbird Road in Leicester is almost complete. Leicester City Council is developing the Blackbird Industrial Park on the location of a previous housing depot, situated near the city centre. It features four buildings that will provide more than 30,000sqft of light industrial workspace across 21 separate units aimed at local start-ups and growing businesses. All the buildings incorporate a range of low carbon, energy efficiency measures. These include roof-mounted photovoltaic panels, super insulation, and low-energy smart lighting. Chargers will be provided for electric vehicles in a new parking area, along with safe storage for bicycles. The 21 new units are due to be available for lease from winter 2024. They range in size from the smallest at 750sqft to the largest at between 2,050 to 2,500sqft. Annual rents will vary from £11,250 to £30,000, and at full occupancy the new industrial park could bring in over £400,000 in rental income. The £6.25 million development on Blackbird Road has been backed with government cash following the city council’s successful bid for new investment from the Levelling Up Fund, in 2021. City Mayor Peter Soulsby, said: “This new and much-needed industrial park will breathe new life into a vacant council site and help meet the demand for commercial and industrial workspaces for start-up and growing businesses in Leicester. “Along with supporting local employers and the creation of new jobs, this development also demonstrates our ongoing commitment to investing in cleaner, greener and low carbon infrastructure to support the future prosperity of our growing city.” Leicester City Council appointed locally-based Brackley Property Developments Ltd as its development partner for Blackbird Industrial Park following a competitive tendering process. Building, Design & Construction Magazine | The Choice of Industry Professionals
