More than 50% of units reserved before sales officially launched at West London site Developer confirms acquisition of second boutique London site in Mornington Crescent Salboy, the nationwide property development and funding company, has launched the official sales process for its flagship London scheme, One Cluny Mews, after receiving high
Stoford has delivered more than 83,500 sq ft of new industrial/logistics accommodation at a job-creating logistics location in East Devon. The leading commercial property developer has completed construction of two new sustainable developments at Exeter Logistics Park, a 55-acre site in Clyst Honiton owned by the Church Commissioners for England.
Panattoni, the largest industrial real estate developer in Europe, will speculatively develop the final two units at its sustainable logistics development in Aylesford, Kent, after agreeing pre-lets for the rest of the space. The two units of 100,000 sq ft and 130,000 sq ft at Panattoni Park Aylesford, which are
Work Starts On Speculative Development Of Circa 650,000 Sq Ft in Five New Industrial Units Citrus Durham (“Citrus”) has secured £75M funding to enable the speculative development of circa 650,000 sq ft of new industrial space, to be known as Connect, at the Integra 61 mixed-use project at J61 of
Caddick Construction, on behalf of Caddick Group and AAA Property Group, has completed 180,000 sq ft of commercial space at Moor Park 25, Mirfield, West Yorkshire. The second phase of this industrial and logistics development includes five new buildings ranging from 19,000-59,000 sq ft. The development at Moor Park 25,
Paradise Birmingham, the £1.2 billion transformation project at the heart of the city, has today received its latest planning approval from Birmingham City Council. In a unanimous decision from the planning committee, permission was granted for Three Chamberlain Square, a new 10-storey, 185,000 sq ft commercial building, a key part
Experts create ‘UK Regeneration Hotspot’ ranking Study unveils Westminster as the UK’s top regeneration hotspot With the last two years presenting many challenges for businesses in hospitality and changes to how their customers behave, many have had to look at ways to upgrade and invest in their commercial spaces. Following
HBD and the Barnfield Group have submitted outline planning permission for a 25ha employment scheme at Roman Way in Preston which, if approved, has the potential to create circa 1,500 jobs. The proposed development would deliver circa 800,000 sq. ft. of new industrial and warehouse space, helping to ease the
Construction at Millwrights Place and Coopers Court, Finzels Reach, Bristol, has reached a major milestone with ‘topping out’ being achieved. The projects form the second Cubex/Grainger Build to Rent scheme in the city, providing high-quality rental homes and much needed affordable new homes for Abri. Councillor Tom Renhard, Cabinet Member
Network Space Developments (NSD) has exchanged contracts to sell the second phase of its popular Tunstall Arrow scheme in Stoke-on-Trent, to 4th Industrial for an undisclosed sum ahead of its completion. Construction work is progressing well on the 2nd phase of this successful scheme which will provide an additional 111,000
More than 50% of units reserved before sales officially launched at West London site Developer confirms acquisition of second boutique London site in Mornington Crescent Salboy, the nationwide property development and funding company, has launched the official sales process for its flagship London scheme, One Cluny Mews, after receiving high demand from buyers for pre-sales reservations. With a £40 million GDV, One Cluny Mews is Salboy’s first residential development in London. It comprises 35 high quality 1, 2 & 3 bedroom apartments, including 8 duplex penthouses. The development is located in the popular and affluent area of Earl’s Court, a part of Kensington in west London that has experienced significant investment and regeneration in recent years, yet offers limited new build opportunities. Properties at One Cluny Mews are now available to purchase and will be marketed to individual homebuyers and investors throughout the UK as well as by Salboy’s overseas sales partners in the Middle East and Asia. 50% of the units under development have already been reserved by individual buyers, indicating the persistent high demand for high quality, prime residential property in central London. While One Cluny Mews marks Salboy’s entry into the London residential property market, it is the first of several London schemes in Salboy’s pipeline with a combined GDV of over £100 million. Salboy has also announced today the acquisition of its second London site in Mornington Crescent. The company has a pending planning application to build more than a dozen boutique residential properties on the brownfield site that is located close to Kings Cross and St Pancras in Zone One. Simon Ismail, Co-Founder & Managing Director of Salboy, comments: “London is a key part of our long-term growth strategy as a developer and funder of high quality housing across the UK. We’re delighted to have achieved such a high level of early buyer interest and commitment in our first development in the capital. We look forward to sharing with more homebuyers and investors what One Cluny Mews, our new site in Mornington Crescent and our other pipelined London schemes can offer them over the coming months.” Salboy’s dedicated construction partner, DOMIS Construction is active on site, with all construction on site expected to be completed Q2 2023. Designed in collaboration with architects, Studio Power, the thoughtful, sleek design of One Cluny Mews will make for spacious, bright living. Along with the latest security systems and concierge services, the site will be enclosed within private gates offering residents homes they can truly relax in. The private residents’ garden will enhance this sense of ease, providing a sanctuary from the hustle and bustle of the nearby city. A small number of home offices that open out onto the private courtyard are also available for residents to buy. This news comes after the recent announcement that Salboy has entered a joint venture agreement with Relentless, the property development company owned by Gary Neville, to deliver Manchester’s long-anticipated St Michael’s development, a scheme comprising a 5* hotel, homes and leisure spaces.
Stoford has delivered more than 83,500 sq ft of new industrial/logistics accommodation at a job-creating logistics location in East Devon. The leading commercial property developer has completed construction of two new sustainable developments at Exeter Logistics Park, a 55-acre site in Clyst Honiton owned by the Church Commissioners for England. They include a new 55,000 sq ft parcel distribution service centre on behalf of DHL and a high specification unit of c.28,500 sq ft which has been developed speculatively in partnership with Urban Logistics REIT. The developments have the potential to create more than 100 new jobs. DHL’s new bespoke facility will deliver the same employment level as a typically larger scale unit but has been designed to minimise the number of vehicles required on site, to reduce its environmental footprint. The building benefits from several sustainability features including PV solar panels, EV charging points, a sustainable urban drainage system and a green roof atop integral office areas. The new speculative development is a flexible industrial/warehouse space with integral first floor fitted offices and is expected to operate as a conventional facility. It includes 8m clear haunch height, 35m yard depth, three level access doors, cycle storage and 38 car parking spaces. Both new developments are EPC A rated and meet BREEAM ‘very good’ standards, and will benefit from onsite trim trail and outdoor gym areas, including bodyweight exercise equipment. Stoford is lead developer for Exeter Logistics Park and has recently signed a new long-term site wide agreement with the Church Commissioners for England that will unlock future phases of development at the former Hayes Farm. The agreement paves the way for an additional c.500,000 sq ft of industrial/logistics accommodation that will be developed on a design and build basis, with new units made available on freehold or leasehold terms. Dan Gallagher, Joint Managing Director, Stoford said: “Exeter Logistics Park is already one of the region’s leading business parks and is enabling distribution and logistics businesses to thrive in purpose-built buildings. We have placed a large emphasis on the sustainability credentials of the scheme, as well as promoting employee health and wellbeing, which is attracting occupiers of the calibre of DHL. Speculative development underlines our confidence in the quality and location of the scheme and we expect the building to let quickly.” John Barker, Development Director at investor, Urban Logistics REIT, said: “We were delighted to work with Stoford and the Church Commissioners in delivering these two units. Pre-letting and speculative development demonstrates the strength of the location, quality of the product and the demand in the market.” Exeter Logistics Park is part of the Exeter and East Devon Growth Point economic development zone near Exeter Airport. The scheme includes improvements to the local transport infrastructure, with a new access road and signalised traffic junction off the B3174 London Road and excellent access to junction 29 of M5 motorway. It is estimated that Exeter Logistics Park could contribute between £90 million – £105 million to the regional economy when fully complete. All enquiries regarding Exeter Logistics Park should be directed to the scheme’s retained agents, JLL and Cushman & Wakefield.
Panattoni, the largest industrial real estate developer in Europe, will speculatively develop the final two units at its sustainable logistics development in Aylesford, Kent, after agreeing pre-lets for the rest of the space. The two units of 100,000 sq ft and 130,000 sq ft at Panattoni Park Aylesford, which are expected to be completed in the fourth quarter of 2023, will be built to a BREEAM rating of ‘Excellent’ and an EPC rating of ‘A’. They will benefit from 15m clear internal height, 2 level access doors, electric charging points for cars, access to the park’s car share scheme and 50m yard depths. The development of the speculative units follows the success of the recent pre-lets at the park to DHL, Fowler Welch and Evri. Panattoni is in detailed discussions with other occupiers for the remainder of the space at the park. Panattoni is developing a high-quality logistics space on the former Aylesford Newsprint site, close to junction 4 of the M20, to serve London and the south east. Panattoni Park Aylesford is a £180 million investment in high-quality, sustainable logistics development, infrastructure, parking, landscaping and access, including the new £7 million Bellingham Way link road. The sustainability strategy aims to minimise the operational use of carbon, which includes some scope three emissions from tenant activity and installed equipment and systems such as heating and lighting. Every building at the park will have air source heat pumps to control temperature in the offices and photovoltaic panels on the roofs. It is expected that these measures will generate up to 15% reductions in regulated energy use across the building. Panattoni is also working in partnership with Kent Wildlife Trust to achieve a 10% net gain in biodiversity at the site. Tony Watkins, Development Director at Panattoni, said: “Our decision to speculatively develop the final two units at Aylesford reflects the strong demand from occupiers looking to benefit from its excellent location. “In just nine months since we acquired the site, we have let nearly 80% of the space. We are on site delivering multiple buildings with the first ones ready for occupation in the third quarter of this year, we look forward to welcoming them to the Park and other occupiers to follow”. Agents at Panattoni Park Aylesford are CBRE, Avison Young and JLL.
Work Starts On Speculative Development Of Circa 650,000 Sq Ft in Five New Industrial Units Citrus Durham (“Citrus”) has secured £75M funding to enable the speculative development of circa 650,000 sq ft of new industrial space, to be known as Connect, at the Integra 61 mixed-use project at J61 of the A1(M), Durham. Avison Young and Colliers acted for Citrus Durham on the funding. Connect will comprise a 342,000 sq ft industrial/logistics development of four high quality units ranging from 43,000 to 152,000 sq ft. In addition, a 298,000 sq ft stand-alone, 15 metre high bay industrial/warehouse unit will be delivered on an adjacent plot. Connect 298 will be the largest speculatively developed industrial/warehouse unit in the North East for over a decade and will fill a crucial void in the regional supply pipeline. Avison Young and CBRE will be marketing the new units to potential occupiers, helping to meet the demand for high quality new build industrial/warehouse accommodation in the region. GMI Construction has been appointed as contractor for the build and work has started on site with the Connect units ready for occupation in summer next year. The acute shortages of high-quality modern logistics/industrial supply in the North East have been analysed by the Citrus team and the units have been sized to satisfy the growing regional demand for units in this range. Integra 61 is one of the North East’s most significant regeneration projects with outline consent in place for over 3 million sq ft of employment space with the potential to create some 4,000 jobs. Already home to Amazon’s 2m sq ft Fulfilment Centre, occupiers can choose design and build packages for units to meet their specific requirements, and this speculative phase of development will satisfy those companies looking for space that is already under construction. David Cullingford, Project Lead for Integra 61 and Citrus, said; “The funding will accelerate delivery of the next phase of development at Integra 61. 2022 is proving to be an exciting year with lots of activity on-site and we are looking forward to delivering these new speculative units as quickly as possible. We have a real opportunity here to make a significant contribution to the regional pipeline for industrial/logistics accommodation and to ease the well-documented shortages in the North East. This is a thriving region with a superb workforce and businesses and we hope to bring more jobs and opportunities with this next multi-million pound investment at Integra 61.” Located at J61 of the A1(M), Integra 61 is just 4 miles away from the City of Durham and will also include circa 270 new homes, 70-bed hotel, family pub/restaurant, nursery, drive-thrus and a number of trade counter/roadside units all adding to the diverse offering.
Caddick Construction, on behalf of Caddick Group and AAA Property Group, has completed 180,000 sq ft of commercial space at Moor Park 25, Mirfield, West Yorkshire. The second phase of this industrial and logistics development includes five new buildings ranging from 19,000-59,000 sq ft. The development at Moor Park 25, located in close proximity to Junction 25 of the M62, started in 2019. Phase 1 completed in 2020 and was immediately let to Incora, the aeronautics supply chain specialist. Caddick Developments subsequently ‘forward sold’ this next phase of five units to AAA Property Group, which also purchased the Phase 1 building as part of its expansion into the industrial and logistics sector. Identified as one of 10 Enterprise Zones across Leeds City Region, it is set to inject a cash boost of up to £12.5million to the local economy. All five new units are in advanced negotiations. Caddick Construction, with support from KPP Architects, was retained for both phases and worked alongside structural and engineering consultancy Dudleys, engaged specifically to support Phase 2. Chris Wilson, Commercial Development Director, of Caddick Construction said: “It’s great to see such demand for the units resulting in the scheme being fully let well before completion. The quality of the build, its facilities and prime connectivity to the M62 corridor are all particularly sought after in the north, in a very competitive market.” Myles Hartley, managing director of Caddick Development said:“With demand for light industrial and logistics floorspace continuing to grow a-pace, we’re delighted to be delivering what growing local and regional businesses want. It’s great seeing the project come to completion, and we look forward to the benefits it will bring to the region’s economy and growth.” Anil Chima, director of AAA Property Group added:“We are delighted to have been able to work with fellow Yorkshire-based Caddick, and be able to bring forward a scheme that will contribute so positively to the local areas – particularly in light of the need for Covid-19 economic recovery. The investment into the project will provide many jobs as well as provide much-needed industrial space in the region.” The project has involved working closely with both Kirklees Council, and the Leeds City Region (LEP) in their role overseeing key strategic enterprise zones. Joint agents on the project are Avison Young and Dove Haigh Philips.
Paradise Birmingham, the £1.2 billion transformation project at the heart of the city, has today received its latest planning approval from Birmingham City Council. In a unanimous decision from the planning committee, permission was granted for Three Chamberlain Square, a new 10-storey, 185,000 sq ft commercial building, a key part of the second phase of the Paradise masterplan. Grounded in sustainability and with a unique ‘inside-outside’ ethos to the workplace, Three Chamberlain Square will be one of the most sustainable commercial buildings located in the city centre. It will be a first for Birmingham in terms of environmental standards, while offering a unique working setting for occupiers. In addition to incorporating a low carbon approach to materials, waste and construction, the design of Three Chamberlain Square builds in a low carbon future for its occupiers. With lots of natural light and ventilation, the building reflects the demands of the modern workplace and will remain sustainable. It is the fourth commercial building at the estate after One Chamberlain Square, Two Chamberlain Square and One Centenary Way. The residential Octagon tower is also currently under construction on the northern part of the estate, fronting Summer Row. The building will offer 200 bike spaces and dedicated changing facilities, all electric power and heating, and stairwell connections between floors, creating an agile and adaptive approach to the workplace. It will be a beautiful and inspiring building, promoting health, sustainability and wellbeing among those who will work there well into the future. With its prominent setting next to the Grade I Town Hall, Three Chamberlain Square will help create new connections in and around the civic heart of Birmingham and across the city centre. Designed by award-winning architects Feilden Clegg Bradley Studios, Three Chamberlain Square is a key statement of sustainability for the city and aims to be one of the greenest commercial buildings built in the UK post-Covid. The building will improve accessibility along Paradise Street and to metro and rail connections, as well as aiding pedestrian flows between different parts of the city centre. The building is a key part of Phase Two of Paradise, which includes the almost complete One Centenary Way, plus a new 17-storey hotel on the corner of Paradise Street and Suffolk Street Queensway, and three important new public spaces, Ratcliff Square, Western Terrace and Ratcliff Passage. These new, high-quality public spaces in the southern part of the Paradise estate will provide a more fitting environment for the surrounding historic buildings, as well as create new connections through to the Westside part of the city. The new public realm, designed by Grant Associates Landscape Architects, will build on the success of the refreshed Chamberlain Square, Congreve Street and Centenary Way, which form part of Phase One of the development. Rob Groves, regional development director at Paradise development manager MEPC, said: “This planning approval is another huge vote of confidence in both the city and Paradise, and its ability to attract new jobs, skills and investment to Birmingham. A further commercial building will enable us to meet market demand for space in the city centre, in a highly-sustainable, people-centred building of the highest quality. In addition to office space, Three Chamberlain Square will bring further leisure and retail opportunities to the heart of the city, with the prospect of more top-quality operators of the like we’ve already attracted to Paradise.” Chris Taylor, Chairman of MEPC and CEO of Federated Hermes Real Estate, said: “This is a significant next step in the Paradise story. Our ambition for Paradise is to deliver one of the UK’s leading business destinations by creating leading sustainable buildings set within the very best public realm, with first class retail and leisure amenities for all those who work, live in or visit the city.“We are committed to driving forward our investment in Paradise. Three Chamberlain Square will ensure that the momentum continues apace.” Neil Rami, Chief Executive of West Midland Growth Company: “Birmingham is the UK’s primary regional investment opportunity, as reflected through Paradise and other developments across the city centre.“The planning approval for Three Chamberlain Square underlines that status and demonstrates that the city and its operators are intent on bringing new high-quality buildings, public spaces and pedestrian routes into the city. “The quality of Three Chamberlain Square and its relationship to the Town Hall is exactly the kind of development we want to see in the city centre and can’t wait to see it take shape as an integral part of the Paradise masterplan.” George Wilson, Partner at architects Feilden Clegg Bradley Studios, said: “Three Chamberlain Square will be a new type of commercial building for the city, one that has sustainability and post-Covid requirements at its core. It will be a welcoming environment, with active uses on the ground floor. “There will be an abundance of natural light and ventilation, with the building design unique in its pioneering approach to reduce both embodied and operational carbon, creating a low-energy, low-carbon workplace for the future. It will be a special addition to the city, with a real sense of arrival for both visitors and the public.” Paradise Birmingham has already completed phase one of the development, with One Chamberlain Square wholly occupied by PwC, and Two Chamberlain Square home to a mix of professional and financial services firms, including DLA Pipier, Knights Plc, Mazars, Cazenove Capital, Atkins and Cubo. Dishoom, Rosa’s Thai Café and Albert’s Schloss will be joined this summer by Yorks Café, along with wine bar and Mediterranean eatery Vinoteca. At almost two million square feet, Paradise is delivering up to 10 new flagship buildings, offering offices, shops, bars, cafés, restaurants, a high-quality hotel, and Octagon, the world first 49-storey, pure octagonal residential tower, across 17 acres in the heart of the city. Paradise is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council. The private sector funding is being managed by Federated Hermes, which has partnered with Canada Pension Plan Investment Board (CPP Investments)
Experts create ‘UK Regeneration Hotspot’ ranking Study unveils Westminster as the UK’s top regeneration hotspot With the last two years presenting many challenges for businesses in hospitality and changes to how their customers behave, many have had to look at ways to upgrade and invest in their commercial spaces. Following a 100% increase in searches for the term “UK regeneration projects” over the last 12 months¹, leading structural glass manufacturer, Specialist Glass Products issued Freedom of Information (FOI) requests to 423 local councils to discover the number of empty commercial properties across the UK in February 2019 and 2022 in order to identify the areas with the biggest opportunity for regeneration. Analysing the data², the top ten hottest spots for regeneration are: City of Westminster – 8,456 London Borough of Tower Hamlets – 3,784 Leeds City Council – 3,567 Trafford Council – 2,967 City of Glasgow – 2,758 Salford City Council – 2,178 Birmingham City Council – 2,153 Cheshire East – 1,625 London Borough of Hackney – 1,461 North West Leicestershire – 1,160 Altogether, there were 89,371 empty commercial buildings across the UK in February 2022, a 21% increase compared to pre-pandemic (February 2019). Central London has the most prominent opportunity for regeneration as local councils, the City of Westminster and London Borough of Tower Hamlets, take the top two spots. A total of 8,456 commercial properties were empty and available in the City of Westminster and 3,784 in the London Borough of Tower Hamlets. According to the UK Regeneration Hotspot list, the northern city of Leeds is the third biggest area of opportunity for regeneration. If you were hoping to relocate your business to God’s Own Country, 3,567 buildings are currently unoccupied in Leeds. Other northern areas to make the top ten include Trafford Council (2967) and the City of Glasgow (2758). The results suggest both councils in the North and South have an equal opportunity for regeneration, with four councils each in the top ten. Two local councils from the Midlands also made the top ten, Birmingham (2153) and North West Leicestershire (1160).` The new study from Specialist Glass Products also revealed which local councils were most impacted by COVID-19 by comparing the number of empty commercial properties in 2022 against 2019. Of the councils which held the information, the following councils saw dramatic increases in empty properties and made the top three: St Albans City & District Council by 855% Inverclyde Council by 700% Comhairle nan Eilean Siar (Western Isles Council) by 518% Andrew Taylor, managing director at Specialist Glass Products, commented on the study: “It has been a testing couple of years for many businesses with multiple lockdowns and restrictions, Brexit and inflation in energy and cost of living. “Hospitality businesses, in particular, have had to find ways to adapt to the new ways of living by sourcing new commercial space with large external areas that are more sustainable. When searching for an area to invest in, business owners should always be on the lookout for areas pushing regeneration; this is often an indication of future growth and demand. “If you would prefer to stay where you are and simply adapt current space, business owners should seek alternate materials such as glass which has many functional and decorative qualities. Structural glass can be used to create outdoor dining spaces such as roofing and balustrading, glass dining pods and takeaway windows with greater security from severe weather and durability in elevated temperatures. “With July temperatures averaging a daily high of 21 degrees Celsius in the UK, indoor temperatures can get stuffy and uncomfortable, especially if in direct sunlight. By implementing energy-efficient coated glass into commercial design, you can help keep interiors cool in the hotter months and warm in the colder months.” You can find the full results of the study here: https://www.specialistglass.co.uk/the-uks-top-regeneration-hotspots/
HBD and the Barnfield Group have submitted outline planning permission for a 25ha employment scheme at Roman Way in Preston which, if approved, has the potential to create circa 1,500 jobs. The proposed development would deliver circa 800,000 sq. ft. of new industrial and warehouse space, helping to ease the significant shortage of suitable buildings within the region. The site, an allocated employment site within Preston City Council’s Local Plan, sits to the east of the existing Roman Way Industrial Estate; a large and well-established industrial development. Chris Newsome, Senior Development Surveyor at HBD, said: “The site is very well-connected, close to the motorway network and within just 1.2 miles of the M6, making it an ideal location for an industrial scheme of this caliber. It also sits adjacent to the very successful Roman Way Industrial Estate and would help to address the shortage of high-quality industrial space within the region, while providing thousands of new jobs.” If the planning application is successful, infrastructure work would start on site later this year. Tracy Clavell-Bate, Head of Development for Barnfield Group, said: “It is great to get the site to the planning stage; it hasn’t been without its challenges, but we are sure with it being a natural extension to the existing Roman Way site, which is fully occupied, that the development will be extremely successful if planning is granted.” HBD and Barnfield have worked closely with the council since 2020 when initial pre-application discussions began. Since then, a range of technical experts and specialist consultants have been involved in completing comprehensive site assessments, alongside architects Fletcher Rae and Iceni Planning Consultants. Ridge was tasked with assessing flood risk and drainage, Bowland handled ecology and arboriculture, Mode managed highways, Sandy Brown handled acoustics and Applied Geology has considered any geo-environmental factors. Dean Young of Young &Co acted for the landowner. The proposed scheme is the latest of several industrial projects delivered in joint venture by HBD and the Barnfield Group. EAST, an 18-acre strategic development site, is also located in Preston and has proved very successful; its 70,000 sq. ft. first phase was fully let prior to practical completion and the rest of the site under offer. The partnership has also developed an 11.5-acre site in Huyton, Beacon 62, creating around 357 new jobs and transforming an important gateway site.
Construction at Millwrights Place and Coopers Court, Finzels Reach, Bristol, has reached a major milestone with ‘topping out’ being achieved. The projects form the second Cubex/Grainger Build to Rent scheme in the city, providing high-quality rental homes and much needed affordable new homes for Abri. Councillor Tom Renhard, Cabinet Member for Housing, Delivery and Homes at Bristol City Council, laid the final piece of concrete at Millwrights Place alongside representatives from the respective owners of the two schemes, namely housing provider Abri and Build to Rent Landlord Grainger plc. Millwrights Place, developed by Cubex for Grainger plc, who will own and operate the scheme when complete, will provide 231 ‘Build to Rent’ homes created specifically for renters. All new homes will be professionally managed by Grainger’s dedicated onsite Resident Services team and in addition to offering high quality homes there will be a strong emphasis on shared resident amenity spaces, including roof top terraces, residents’ lounge, gym, co-working space and shared entertainment spaces. At ground level there will be co-working spaces custom-made for those working independently or running their own business. Grainger, the UK’s largest listed residential landlord and a FTSE-250 listed business has over 100 years’ experience as a residential landlord and is a leader in the UK private rental market, leading the way in the emerging Build to Rent sector and raising the bar in the rental market by providing high quality, mid-market rental homes for young professionals, key workers and families on regular incomes. Coopers Court, developed by Cubex for the social housing provider Abri, will deliver 66 affordable homes consisting of 48 homes for the social rented market and 18 for shared ownership. The energy-efficient building includes a bio-diversity roof amenity space, 94 cycling spaces and only four car parking spaces in line with the city’s drive to help tackle the environmental crisis. Together, Coopers Court and Millwrights Place will help to address the housing crisis in Bristol by providing social housing, an opportunity for first-time buyers to get on the property ladder and high-quality rental accommodation all of which is much needed in the city. Both buildings have been designed to have strong identities and a sense of place, whilst ensuring they integrate well with the surrounding area. Significant investment in improvements to the area around the buildings, including new landscaping, traffic management, pedestrian and cycle routes, will help create a more attractive area and foster a sense of community. As part of a £2.4m investment in improvements around the site, there will be new ‘pocket parks’ with seating and soft landscaping to create relaxing spaces the whole community can enjoy. As well as Coopers Court and Millwrights Place, the second phase of Cubex’s mixed-use Finzels Reach development on the former fire station site, incorporates a landmark, sustainable 116,000 sq. ft office building named Halo, with notable tenants confirmed including international legal firm Osborne Clarke and accountancy firm Deloitte. Councillor Tom Renhard, Cabinet Member for Housing Delivery and Homes, said: “Demand for housing in Bristol far outstrips the number of homes available and it’s vitally important that we deliver a mixture of different types of housing to meet our city’s need. These new developments at Finzels Reach, offering affordable homes for social rent and shared ownership, and managed homes for rent, demonstrate that by working together we can deliver good quality homes for all. “We’ve got Bristol building since 2016, with over 9,000 new homes delivered for Bristolians. These new homes in central Bristol will add another 297 to that total – including 66 new affordable homes.” Peter Walford, managing director at Cubex, said: “We are thrilled to have reached this important milestone on Coopers Court and Millwrights Place, an integral part of Finzels Reach phase two. Thanks to a successful partnership approach with both housing provider Abri and professional landlords Grainger, plus our construction partner Wilmott Dixon, this once-derelict city centre site is fast being transformed into much-needed, high quality affordable accommodation to add to the 440 homes we have already delivered at Finzels Reach. Neal Stephens, managing director from Wilmott Dixon Wales and West, said: “Together, Millwrights Place and Coopers Court are the fourth project that we have worked on alongside Cubex and as part of this long standing and collaborative partnership we are delighted to have the opportunity to deliver this regenerative development. Millwrights Place and Coopers Court will provide much needed high-quality housing in Bristol, and we at Wilmott Dixon are proud to be part of the team that has delivered this landmark scheme.” Helen Gordon, Chief Executive at Grainger plc, said: “We are delighted to have reached this milestone for our Millwrights Place development – a great addition to our Bristol portfolio and delivering much needed new homes in one of our key target cities. We look forward to seeing the development progress over the coming months in the lead up to our launch – providing high quality homes, a commitment to excellent customer service and establishing a thriving new community for renters in Bristol.” Michelle Hyde, head of land and planning at Abri, commented: “It’s great to be a step closer to providing affordable homes in such a central location in Bristol and to be helping to transform a former derelict site into a place of real value for the community. “On our part, Abri is committed to delivering 12,500 new homes by 2030 and Coopers Court is a great example of how working with our partners we’re collectively helping to tackle the unmet housing need.” Cubex bought the former fire station site in summer 2018 on behalf of Fiera Real Estate Opportunity Fund IV (UK), a programmatic joint venture by FRE UK that is exclusive to clients of CBRE Global Investment Partners (CBRE GIP). Award-winning Finzels Reach is one of the largest mixed-use developments in the South West. The first phase, which is complete, includes 440 new apartments, 240,000 sq.ft of office space including two Grade A office buildings, a 168-bedroom Premier Inn, plus a host of
Network Space Developments (NSD) has exchanged contracts to sell the second phase of its popular Tunstall Arrow scheme in Stoke-on-Trent, to 4th Industrial for an undisclosed sum ahead of its completion. Construction work is progressing well on the 2nd phase of this successful scheme which will provide an additional 111,000 sq. ft of industrial and logistics workspace on a 7.3 acre site. Caddick Construction started on site in November 2021, and are just over halfway through the build, with completion anticipated in Autumn 2022. Phase Two will deliver five high-specification highly sustainable business premises for industrial or logistics uses, ranging from 13,400 sq ft to 31,000 sq ft. Phase One of Tunstall Arrow, which opened in 2018, was sold by Network Space to 4th Industrial in February 2021. The scheme proved extremely popular being fully let prior to completion to a host of international tenants including – DHL Express, Boels Rental, Q-railing, Pramac Generac and SG Fleet. Other major occupiers in the area include Churchill China and JCB. Acquired by NSD in 2013, the Tunstall Arrow scheme covers 28 acres of a former colliery site adjoining the A527 (James Brindley Way) in Sandyford, Stoke-on-Trent. The scheme is close to the A500 with access to Junction 16 of the M6 only minutes away. Simon Peters, Development Director at NSD, said: “The Tunstall Arrow development has been a huge success story in terms of delivering sustainable employment and inward investment benefits for Stoke on Trent. “We are delighted to have exchanged contracts for the sale of Phase Two to 4th Industrial. This is the third scheme they have acquired from us and follows Tunstall Arrow Phase One and Ashroyd in Barnsley. Demand for well-located urban logistics and industrial space is extremely high and interest in Tunstall is strong. ” B8RE Investment Director Simon Wood added: “Following on from the sale of Phase 1 it has been fantastic to have been involved in the forward sale of Phase 2. Not only has it been really encouraging to see continued strong investor appetite for high quality schemes such as this but also Tunstall emerging as a really strong and recognised industrial location for investors and occupiers alike. Congratulations to both Network Space Developments and 4th Industrial on another successful deal.” 4th Industrial Managing Director, Derek Heathwood, said: “We are delighted to have agreed another deal with NSD providing real scale at this prime location. The acquisition of Tunstall phase 2 continues our investment theme of purchasing high quality, multi let industrial estates with strong ESG credentials in key target UK sub-markets. There is already significant interest in the units and we look forward to completing this purchase when the development is at practical completion.” Tunstall Arrow is a priority development for Stoke on Trent City Council, being one of the six sites in the Ceramic Valley Enterprise Zone. The CVEZ has potential to create up to 6,700 jobs and deliver 3.3 million sq ft of commercial space across six sites along the A500 corridor.
