SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership (“SELP”) joint venture, today announces on behalf of SELP, the acquisition of a portfolio of Spanish logistics land sites. All of the sites are in Barcelona and Madrid and are able to support approximately 240,000 sq m
Planning has been approved for a 138,000 sq ft industrial development, Spitfire Court on the Triumph Business Park in Speke. Work is scheduled to begin on site in October 2020 with completion targeted for Q3 2021. The Park was acquired by InfraRed Capital Partners Limited (“InfraRed”) in 2019, on behalf
£120m world-first low carbon greenhouses in Norfolk and Suffolk are on track for the testing and commissioning phase to begin this autumn. The two giant greenhouses have used more glass than The Shard, and just one is one-and-a-half times the size of the O2 in London. This world-first development, project
Regional contractor G F Tomlinson has completed construction works on five new industrial units at Ashroyd Business Park, Barnsley. Constructed on plots 4 and 5 of the business park, the units have been speculatively built for developer Network Space, to meet a shortage of industrial space in the Sheffield City Region, in
Yorkshire-based Caddick Construction has completed the fifth industrial building at Cross Green Industrial Estate in Leeds on behalf of Towngate. A speculative development of a 16,500 sq ft detached double portal framed building along with infrastructure works and services, the Caddick team started work at the start of the year.
The pre-let is the latest deal to be signed on the popular and successful development in Bristol, the region’s largest regeneration project on the site of the former Rolls-Royce East Works site in Filton. St Francis Group together with its development partners iSec have today announced that it has exchanged
A major capacity boost is expected to the rail freight network in the UK as work has begun on a major project at Daventry International Rail Freight Terminal in Northamptonshire. The project is being led by Prologis UK and is being delivered by Winvic Construction Ltd and will see the
Tritax Big Box REIT plc (Tritax Big Box or the Company) announces that it has received planning consent* and exchanged contracts with a world leading on-line retailer (the Customer) to pre-let a new Mega Box logistics building. The pre-let and planning consent (the Project) covers the Phase 2 and part
The Front-End Engineering Design (FEED) phase has been completed on the UK’s first waste plastic to hydrogen facility. The facility, which is planned for Protos – Peel L&P Environmental’s strategic energy and resource hub in Cheshire – will create hydrogen from waste plastic which could be used to fuel cars,
St. Modwen Industrial & Logistics has entered into a development agreement to create an 11.3-acre business park with Basingstoke and Deane Borough Council and leaseholder ITT Inc. The Basingstoke site, owned freehold by the Council and held by lessee and global multi-industrial manufacturers ITT Inc, is located within the wider
SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership (“SELP”) joint venture, today announces on behalf of SELP, the acquisition of a portfolio of Spanish logistics land sites. All of the sites are in Barcelona and Madrid and are able to support approximately 240,000 sq m of modern, sustainable warehouse space, developable over the next five years, which will allow SEGRO, through SELP, to continue to build scale and increase its presence in Spain. The sites total 41 hectares and are all in locations within close proximity to major population hubs, making them ideal to meet ongoing occupier demand that has been further strengthened by the rapid rise in e-commerce. Five of the assets are in Barcelona, including development sites in Cerdanyola del Vallès, Terrassa, Palau-Solità i Plegamans, Viladecans as well as an existing, fully let 14,000 sq metres warehouse facility in the Polinyà municipality. The remaining sites are in Madrid including in Paracuellos, strategically located next to Madrid Barajas Airport and two further sites bordering the M45 orbital road in San Fernando de Henares and Villaverde. Marco Simonetti, Southern Europe Business Unit Director for SEGRO, said: “This acquisition will significantly expand our footprint in Spain, an exciting market where we are growing our portfolio of high quality, well located assets to meet the increasing demand for prime, sustainable warehousing. “It will complement our existing portfolio in Barcelona and Madrid, helping to establish us as a leader in modern warehousing and industrial property in these important logistics markets.”
Planning has been approved for a 138,000 sq ft industrial development, Spitfire Court on the Triumph Business Park in Speke. Work is scheduled to begin on site in October 2020 with completion targeted for Q3 2021. The Park was acquired by InfraRed Capital Partners Limited (“InfraRed”) in 2019, on behalf of InfraRed Active Real Estate Fund IV, who appointed Merseyside-based Network Space Developments last year to bring forward the £15m speculative scheme on a plot of vacant land to the south-west corner. The scheme will bring 12 Grade A industrial units to market, taking the total Park footprint to almost 1million sq ft. The proposed units range in size from 3,000 sq ft up to 34,000 sq ft. Six larger warehouse units include ancillary first floor offices, designated parking spaces, generous service yards and loading door access. One sub-divided terraced unit houses a further six smaller business units. The wider Triumph Business Park site is a major storage, distribution and commercial hub, with 24-hour access and a security lodge and entrance barrier. It’s strategically located less than one mile from Liverpool John Lennon Airport, with Liverpool South Parkway transport interchange 1 mile to the north for destinations across Merseyside with links to Birmingham and London Euston. Network Space Development Director, Joe Burnett said: “We are delighted that planning has been approved for a scheme that brings significant logistical and economic benefits to the Liverpool City Region. The extension to Triumph Business Park will complement existing businesses and amenities on the Park, as well as neighbouring retail outlets. This is the next chapter in this regeneration success story for the former Triumph factory site. He added: “The units will offer Grade A warehouse and office accommodation that will attract quality tenants to the Park, along with long-term job, training and investment opportunities.” Dean Harrison, Investment Director at InfraRed Capital Partners, commented: “Located only seven miles from Liverpool city centre, the Park benefits from good transport links, increased urbanisation and strong tenant demand from last mile logistics operators. The greater turn to e-commerce during the recent months has increased demand for modern, high-quality urban logistics assets, which this project delivers. The scheme will meet BREEAM Very Good standards and with sustainability in mind, will incorporate electric vehicle charging points for each unit and LED lighting throughout. It will also be zero carbon ready, allowing for easy future provision of renewable energy technologies. To date, InfraRed has acquired, developed and managed over c.18m sq ft of industrial assets. We will look to expand our urban logistic holdings in the UK and Western Europe throughout 2020 and beyond with substantial capital available for deployment”. Triumph Business Park was acquired by InfraRed, for £30m from an undisclosed vendor. Architects for the scheme are AEW Architects. CBRE and B8 are appointed as agents with NSM providing asset management services across the Park.
£120m world-first low carbon greenhouses in Norfolk and Suffolk are on track for the testing and commissioning phase to begin this autumn. The two giant greenhouses have used more glass than The Shard, and just one is one-and-a-half times the size of the O2 in London. This world-first development, project managed by Step Associates, will also be home to the largest heat pump system project in the UK. The greenhouses have been built next to Anglian Water’s water treatment facilities, the heat from the sewage works will be pumped into the energy centres serving the greenhouses and will provide the ideal growing temperature for growing millions of tomatoes, 10% of the UK’s homegrown tomato crop, along with peppers and cucumbers. Director at Step Associates, Mark Dykes, said “The scheme is using the UK’s largest system of heat pumps, which will channel heat from warm water into the greenhouses to help speed growth. This use of natural energy will cut carbon emissions associated with growing the tomato crop by 75%.” The carbon emissions from an on-site electricity plant will also be funnelled into the greenhouses for the plants to absorb and aid their growth. Greencoat Capital, one of the UK’s largest clean energy funds, is behind the plans and estimates that the greenhouses will produce vegetables with a quarter of the carbon footprint of regular greenhouses. The greenhouses, which are set to start growing this winter, are 7-metre tall glass structures and will allow crops to grow vertically along guide wires. They will be grown hydroponically from nutrient-rich water solutions instead of using soil. As well as providing the UK with homegrown tomatoes, the project will also create up to 360 permanent jobs in the area, and up to 460 at peak season. Mark comments: “This project has been a long and rewarding journey. The greenhouses, being a world-first in their use of renewable energy, have positioned the UK as leading the way in a low carbon solution to growing sustainably, and will hopefully pave the way for similar projects.”
Regional contractor G F Tomlinson has completed construction works on five new industrial units at Ashroyd Business Park, Barnsley. Constructed on plots 4 and 5 of the business park, the units have been speculatively built for developer Network Space, to meet a shortage of industrial space in the Sheffield City Region, in partnership with Sheffield City Region Local Enterprise Partnership and Barnsley Metropolitan Borough Council. The established business park, which is located adjacent to the Dearne Valley Parkway close to junction 36 of the M1, already houses a range of businesses in its current units, including self-storage and car part companies, and window, door and shower enclosure manufacturers. “We are pleased to be able to hand the site over now that construction works are complete and the units are a welcome addition to the local area and its economy, providing plenty of opportunity for prospective tenants – especially small to medium enterprises that are looking for an ideally situated, accessible base for operations,” said Andy Sewards, managing director at G F Tomlinson. “It’s been a great opportunity to work with Network Space, a highly regarded developer in the region and we have built a good relationship with the company which we look forward to continuing in the future.” Units that G F Tomlinson has recently completed comprise one single 52,871 sq. ft unit on Plot 4B, which is suitable for use as an industrial or distribution unit, as well as four smaller units on Plot 5 ranging from 11,049 sq. ft to 21,882 sq. ft, which will be used as trade counters, storage, industrial and smaller business units. “Good quality industrial space is in very short supply. The range of space at Ashroyd Business Park has been designed to meet significant occupier demand from smaller and medium sized occupiers and we are receiving a high level of enquiries,” commented Simon Peters, development director of Network Space. “Thankfully, we have been able to offer virtual video tours, as well as socially distanced visits as lockdown has eased. Now that the units are complete, we are seeing increased interest, particularly due to the flexibility of the space, prime location and great transport links.” Cllr Tim Cheetham, cabinet spokesperson for regeneration and culture at Barnsley Council, also commented: “We are delighted to be assisting Network Space with such a high-quality development in a first-class location in Barnsley. This is great news for the borough, providing further opportunities to boost our local jobs market and Barnsley’s economy.” “Our award-winning Enterprising Barnsley business centre team, which offers free guidance on access to finance, recruitment and training, as well as business growth coaching, has supported the development and we look forward to supporting future businesses that move into the units.” The scheme was delivered with investment from the Sheffield City Region JESSICA Fund and support from Barnsley Metropolitan Borough Council, and is expected to bring more than 140 jobs to the local region.
Yorkshire-based Caddick Construction has completed the fifth industrial building at Cross Green Industrial Estate in Leeds on behalf of Towngate. A speculative development of a 16,500 sq ft detached double portal framed building along with infrastructure works and services, the Caddick team started work at the start of the year. Cross Green Industrial Estate is prominently located close to the M1/M621 motorway network and is home to many manufacturing, distribution and warehousing operations, including John Lewis and Amazon. Approximately 3,000 people work at the site. Towngate Plc has a portfolio of more than 230,000 sq ft of space at the site which is known as Towngate Link. Caddick Construction delivered the first three units at the site with all snapped up as pre-lets. Wine merchant, London City Bond, expanded into the 55,000 sq ft detached warehouse and Beerhawk took the second 62,500 sq ft warehouse. The third 57,500 sq ft unit was recently let to Van-Line Ltd. Together the three previous units and this latest development can accommodate up to 300 new jobs. Robert Smith from Towngate said: “Caddick has yet again delivered a fantastic product which will add to the success of Cross Green. We continue to see a lot of market interest and we are undertaking a number of socially distanced site visits to prospective occupiers in the coming weeks so they can see first-hand the quality of this development.” Chris Allott, Senior Contracts Manager from Caddick Construction, said: “The team has successfully completed four developments for Towngate at Cross Green. With a wide range of unit sizes, this latest warehouse provides an ideal size to meet the need for small to medium sized businesses, for which there is a great deal of demand.”
The pre-let is the latest deal to be signed on the popular and successful development in Bristol, the region’s largest regeneration project on the site of the former Rolls-Royce East Works site in Filton. St Francis Group together with its development partners iSec have today announced that it has exchanged on the latest pre-let deal at Horizon-38 in North Bristol, the region’s largest regeneration project on the site of the former Rolls-Royce East Works site in Filton. Work is due to start within weeks on a new 17,000 sq. ft flagship car dealership for Volvo Cars UK to be situated on one of the last remaining plots with frontage directly onto the A38. Volvo will join other established names at Horizon-38 including Sytner’s Car Shop, Selco Trade Centre, Village Urban Resorts and GKN Aerospace alongside nearly 400,000 sq. ft of speculative industrial warehouse development. Speaking about the deal Gareth Williams at St Francis Group said: “In these unprecedented times it is very pleasing so be able to make an announcement like this. Volvo and all other project stakeholders have shown a huge can-do attitude to ensure that this deal was done and we’ll be starting on site very shortly”. Speaking for the project itself and Horizon-38 scheme in general, this deal represents another piece of the jigsaw on this hugely popular and successful 60 acre site which continues to deliver. We are looking to continue with this momentum through the last two remaining plots where commercial discussions are underway with interested parties.” Avison Young advised the joint venture on the letting and will be retained on the investment sale. Horizon38 was acquired by a joint venture between St Francis Group and iSec late in 2015 and since then nearly 500,000 sq. ft of new high-quality warehouse space has been built in addition to a new Village hotel and trade counters. A new Sytner Car Shop is under construction as is a state-of-the-art Global Technology Centre for GKN Aerospace. For further information visit : https://horizon38.com/
A major capacity boost is expected to the rail freight network in the UK as work has begun on a major project at Daventry International Rail Freight Terminal in Northamptonshire. The project is being led by Prologis UK and is being delivered by Winvic Construction Ltd and will see the construction of a new rail freight terminal with a new access road. Daventry terminal, known as DIRFT, is recognised as one of the most successful intermodal logistics parks in the UK. It is situated in the Golden Triangle, which spans from Northampton to East Midlands Airport, in the North, and is located near the M1, and of course the West Coast Main Line. Daventry is currently home to big names such as Sainsbury’s, Tesco, Royal Mail and DHL, and currently handles 12 freight trains a day. The latest phase of work includes the construction of a new terminal and enhancement to the current rail corridor which connects into the West Coast Main Line. Construction has already begun and is expected to be completed in 2021.
Tritax Big Box REIT plc (Tritax Big Box or the Company) announces that it has received planning consent* and exchanged contracts with a world leading on-line retailer (the Customer) to pre-let a new Mega Box logistics building. The pre-let and planning consent (the Project) covers the Phase 2 and part of Phase 3 plots of the Company’s Littlebrook, Dartford development, comprising a c.2.3 million sq ft logistics building on 35.5 acres within London’s orbital M25 motorway and next to critical transport infrastructure. Leveraging existing customer relationships to maximise development potential In line with its strategy, Tritax Big Box worked closely with the Customer, an existing tenant of other Big Box assets of the Company, to understand their current and future requirements and develop an optimal logistics solution from Littlebrook’s c.97 net acres of development land, acquired in July 2017. The site will play a key role in the Customer’s local and national distribution and fulfilment network in addition to delivering economic and employment benefits to the area. Following completion, the Customer will occupy over 7 million sq ft of high-quality Big Box logistics space within the Company’s portfolio representing c.19% of total contracted rent roll. The Littlebrook development project, formerly the site of a decommissioned power station, is adjacent to the QE2 Bridge, Dartford Tunnel and on the south bank of the River Thames and has the potential to become one of London’s largest Big Box logistics parks in a critical “last journey” location inside the M25. This is a rare asset so close to the heart of London, benefiting from exceptional transport connectivity via motorway, rail and water, excellent infrastructure, significant power provision and a robust labour market. State of the art sustainable logistics building, meeting the needs of the market The Company, together with its development partner, Bericote Properties (the Developer), has successfully secured detailed planning permission* from Dartford Borough Council for this pre-let development. With practical completion expected in Summer 2021, this highly sustainable building will target an Excellent BREEAM and EPC A ratings, with key features including: Gross internal floor area of c.2.3 million sq ft, including three structural mezzanine floors Clear internal height of 20 metres High levels of automation through capital investment by the Customer Substantial 3.5 MW solar PV scheme Delivering attractive returns to investors The Project development will deliver attractive returns to investors based upon: A new 20-year lease, subject to annual upward only rent reviews indexed to the Consumer Prices Index (collared at 1% pa and capped at 3% pa) with the first review in Summer 2022. The Company will benefit from a licence fee from the Developer during the construction period equivalent to the annual rent payable by the Customer following completion of the building. The total development cost for the delivery of this project, including land and demolition, is expected to be £205 million. This development has been committed to using existing credit facilities, with a further £164 million costs to completion. In total, this Project delivers a yield on cost which is in-line with the stated development target for the site and enhances the Company’s income. The completion of this Project is expected to achieve the Company’s original expectations for the overall development profit on the Littlebrook site. Colin Godfrey, CEO, Fund Management, commented: “The signing of this pre-let for a 2.3 million sq ft prime logistics facility is a great achievement and demonstrates our strategy is working. By combining our deep understanding of the market and long-standing customer relationships forged across existing high-quality assets with an attractive development portfolio, we are creating significant value for our customers and investors. Furthermore, recent macro events are accelerating substantial tailwinds for our business through the ongoing adoption of e-commerce platforms as consumers increasingly shop online. “This enhances our existing portfolio with a substantial, prime and sustainable logistics investment at an attractive yield on cost as we advance our plans to transform this disused brownfield site into a new premium logistics park. Working with our partner Bericote, the development of the site will not only deliver much sought-after high specification logistics space for London, but will also bring enhanced local infrastructure and significant employment opportunities to the local area, strengthening its economic growth.”
The Front-End Engineering Design (FEED) phase has been completed on the UK’s first waste plastic to hydrogen facility. The facility, which is planned for Protos – Peel L&P Environmental’s strategic energy and resource hub in Cheshire – will create hydrogen from waste plastic which could be used to fuel cars, buses and HGVs. Completed during lockdown, the study assessed all the design and engineering aspects of the proposed facility. It also evaluated the total project costs – estimated at £20m – which will facilitate Peel L&P Environmental finalising the project financing. The ‘UK first’ facility which gained planning consent from Cheshire West & Chester Council in March 2020 will use pioneering DMG (Distributed Modular Generation) technology developed by Powerhouse Energy Group plc (AIM: PHE) at Thornton Science Park, next door to Protos. The facility will transform the way plastic is dealt with regionally, with the scheme also set to provide a blueprint for future projects to be rolled out nationally. Peel L&P Environmental will develop 11 facilities across the UK in the next few years and has the option of exclusive rights to the Powerhouse Energy technology in the UK leading to over 70 facilities in total. The plastic to hydrogen facility, is the first part of the ‘Plastic Park’ planned at Protos, which will revolutionise the way that plastic waste is currently handled. Envisaged to be one of many Plastic Parks across the UK, it will provide a comprehensive solution for the 4.9 million tonnes of plastic waste generated in the UK each year, preventing it ending up in landfill, exported overseas or in the ocean. A planning application for the first Plastic Park at Protos is expected before the end of the year. Richard Barker, Director at Peel L&P Environmental said: “This FEED phase is an important step forward in delivering this innovative technology at Protos. Working with Powerhouse Energy we’re creating a blueprint for this UK first plastic-to-hydrogen facility, with plans to roll out over 70 more across the UK. With hydrogen increasingly being seen as an important part of our journey to net zero the time is now.” Jayne Hennessy, Development Manager at Peel L&P Environmental said: “The Powerhouse Energy technology was developed right next door to Protos at Thornton Science Park which illustrates how the North West is leading on innovation around net zero. It’s great to see the project moving forward and paves the way for construction starting later this year.” David Ryan, CEO of Powerhouse Energy said: “I would like to congratulate Peel L&P on bringing the FEED phase for the DMG plant at Protos to a successful completion, especially during the lockdown period which is a significant achievement. Defining the application at Protos has provided further commercial and technical validation of our DMG technology. We are confident that the delivery of this first commercial plant will provide a community based distributed source of hydrogen to further the hydrogen economy in the UK.” Peel L&P Environmental is engaging with supply chain partners to support the project with construction expected to start later this year. The company is also in the process of applying for an Environmental Permit for the facility. About Peel Environmental and Protos Peel Environmental, part of Peel L&P, owns and develops waste infrastructure projects. It has achieved consent for a range of energy infrastructure schemes including a 49MW Energy from Waste plant at Protos in Cheshire, 29MW Energy from Waste plant at Kellingley, North Yorkshire, 250,000tpa AD and MRF in Glasgow; and a 20MW Energy Centre at Houghton Main, Barnsley. Peel works with investors, waste management companies, technology providers and contractors to secure a deliverable and fundable business model for each project. www.peelenvironmental.co.uk Peel Environmental brought forward and consented the Protos development, previously known as Ince Resource Recovery Park. The 54ha (134 acres) development site has full outline planning consent and part detailed planning consent for general manufacturing and distribution uses (B1, B2 & B8), as well as a biomass facility and an Energy from Waste facility. www.protos.co.uk @ThisIsProtos Protos sits within the Energy Innovation District (EID) which brings together energy users, network owners, innovators and partners working alongside Cheshire & Warrington LEP, Cheshire West and Chester Council and the University of Chester. With the objective of driving down the cost of clean energy the EID is an opportunity to deliver a new decarbonised energy system for the North West of England, meeting the Government’s Clean Growth agenda while boosting economic growth and investment. www.energyinnovationdistrict.com About Peel L&P – realising possibility. We are an ambitious regeneration business with generations of history, heritage and expertise in our DNA. First established in 1971, Peel L&P is now responsible for some of the most transformational development projects in the UK today. Owning and managing 12 million sq. ft of property and 20,000 acres of land and water, our holdings are concentrated in the north west of England but we also own and manage significant assets throughout the UK with a total portfolio value of £2.6 billion. As a part of the Peel Group; we are integral to a business that strives to make a positive impact on people’s lives. Our legacy matters. We take great pride in the outcomes we achieve, the people we work with, the way we go about our business and the transformational projects we deliver. Our specialist teams have a proven track record in delivering high-quality, legacy projects across land, property, water and airspace. This includes airports, hotels, waterways, media hubs, event spaces, leisure facilities, retail, workspaces, residential development, industrial & logistical space, public realm, historic gardens and the renewable energy sector. Peel L&P is an agile and ambitious business with a legacy of success for a long-term, sustainable future. We see possibility. We deliver transformation. More information at www.peellandp.co.uk or follow @PeelLandP on Twitter. About Powerhouse Energy Group (AIM:PHE) Powerhouse Energy Group has developed a proprietary process technology – DMG® – which can utilise waste plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them
St. Modwen Industrial & Logistics has entered into a development agreement to create an 11.3-acre business park with Basingstoke and Deane Borough Council and leaseholder ITT Inc. The Basingstoke site, owned freehold by the Council and held by lessee and global multi-industrial manufacturers ITT Inc, is located within the wider Viables Business Park and will be known as St. Modwen Park Basingstoke following the grant of planning consent from the local authority in January 2020. As part of the agreement, St. Modwen will create new employment space in response to strong occupier demand and has permission to deliver up to 200,000 sq ft of industrial and logistics space. With full planning consent in place, construction of three high-quality speculative units of 36,987, 51,572 and 97,781 sq ft will commence in September 2020. As per the agreed timetable for the development, units at the site will be available as early as Q3 2021, creating up to 250 new jobs once occupied. Strategically located between Junction 6 and 7 of the M3 and within 2 miles of Basingstoke town centre, the development is well placed to capitalise on the town’s existing diverse economy, providing fast access to London and Southampton. David McGougan, Senior Development Manager at St. Modwen Industrial & Logistics, said: “St. Modwen Park Basingstoke forms part of our strategy to grow a high-quality industrial and logistics portfolio. After obtaining planning permission at the start of this year, our breakthrough development agreement reaffirms our intention to press on with these plans and deliver an industry-leading employment scheme for Basingstoke. The terms we’ve agreed will enable us to fulfil the local authority’s aspiration to deliver regeneration and drive employment.” Ravi Patel, Director of European Shared Services at ITT Inc, added: “We’re completely aligned with St. Modwen’s ambition to transform this site – their regeneration and industrial and logistics credentials speak for themselves. Now that terms are settled and the agreement is signed, we look forward to delivering an employment space that is fit for market demand together.” Basingstoke and Deane Borough Council’s Cabinet Member for Regeneration and Property Cllr John Izett added: “We are delighted to have reached an agreement with St. Modwen which will enable the company to redevelop this site near the M3 for a new logistics park, creating 250 high quality local jobs once complete. “This investment and the new jobs it will bring is especially welcome at a time when the priority is on recovering from the effects of COVID-19. It demonstrates Basingstoke remains open for business.” Marketing agents for the site are London Clancy, Hollis Hockley and Savills. For more information, visit: stmodwenlogistics.co.uk/property/st-modwen-park-basingstoke