SEGRO V-Park Grand Union will deliver 134,500 sq ft of light industrial space over six storeys The development forms part of Grand Union, a vibrant new canalside neighbourhood of over 3,000 homes being delivered by St George located in Alperton, close to Park Royal St George, a leading mixed use
Leading construction, property and management consultancy, Rider Levett Bucknall (RLB UK Ltd) has been awarded a place on The Guinness Partnership’s new Employer’s Agent Services Framework. RLB will offer Employer’s Agent services and Clerk of Works across the framework’s three regional lots: North; South, London and South East; South West.
This March, it has been revealed that Bellway has now sold its interest in its JV organisation alongside the Greater London Authority. The partnership, called Barking Riverside, has seen such interest pass to L&O New Homes, as Bellway now looks to utilise the funds acquired to reassess the strategic focus
SEGRO V-Park Grand Union will deliver 134,500 sq ft of light industrial space over six storeys The development forms part of Grand Union, a vibrant new canalside neighbourhood of over 3,000 homes being delivered by St George located in Alperton, close to Park Royal St George, a leading mixed use developer in London and member of the Berkeley Group, and SEGRO, the leading owner and developer of warehouse space, have formed a 50:50 joint venture to bring forward their first urban multi-storey industrial development in the UK as part of a major mixed use neighbourhood at Grand Union being delivered by St George in Brent, North West London. The pioneering development will provide 134,500 sq ft of flexible light industrial space over six storeys and support up to 500 jobs and apprenticeships. The industrial development, to be called SEGRO V-Park Grand Union, is an innovative new concept for delivering multi-storey light industrial property and is designed to maximise employment space and accessibility on the 1.7-acre plot. The concept fully supports the aspirations in the GLA’s new London Plan to intensify industrial land, delivering jobs and homes as part of the regeneration of a wider brownfield site. It forms part of Grand Union, a new canal-side destination which is being delivered by St George. The 22-acre former derelict Northfields Industrial Estate is being transformed into a vibrant new mixed-use neighbourhood in Alperton compromising 3,350 homes, 35% of which will be affordable with first residents being welcomed later this year, delivering much needed homes and jobs to the London Borough of Brent. Grand Union will provide 10.2 acres of publicly accessible landscaped gardens, a net biodiversity gain of 240%, community centre, health centre, local supermarket and a range of onsite amenities. The new neighbourhood will also open up previously inaccessible parts of the Grand Union Canal and River Brent to the local community, creating improved routes around Grand Union and to nearby Stonebridge Park Station. Within SEGRO V-Park Grand Union, the ground and first floors will be utilised to provide over 100 parking spaces, with electric vehicle charging points also being incorporated. The flexible industrial space is arranged over four upper levels which can be configured as up to 20 individual units offering a range of sizes, supported by shared meeting rooms, breakout areas and wellness spaces, including a green roof terrace. The development will incorporate sustainability features such as photovoltaic cells and an internal green wall. Construction is expected to begin in Summer 2022. SEGRO V-Park Grand Union expands SEGRO’s footprint in North West London. It is located close to Tudor Estate and Premier Park at Park Royal and will front onto the North Circular (A406), providing excellent connectivity to the M1 and M25. Piers Clanford, Managing Director, St George Plc, said: “Grand Union has been carefully designed with the local community to create an exciting new canalside neighbourhood, delivering high quality homes and vital jobs offering a wealth of amenities and uses within beautiful public spaces. SEGRO V-Park Grand Union is a key part of the redevelopment of this complex brownfield regeneration site in bringing even further opportunity for job creation, aligning with the Borough of Brent and the GLA’s ambitions. We look forward to working with SEGRO on this exciting project.” Alan Holland, Managing Director, Greater London at SEGRO, said: “SEGRO V-Park Grand Union is a new model for delivering much-needed light industrial space as part of mixed-use communities. “We are strong advocates for multi-storey warehousing in some urban settings given the pressure on land supply and the need to create space that supports different types of employment. We have successfully delivered multi-storey logistics at scale in Paris and now have the opportunity at Grand Union to adapt this format for a smaller urban site. “This regeneration project is a template for how to revitalise under-utilised industrial land to deliver much needed housing and jobs and we look forward to working with the GLA, London Borough of Brent and St George to bring forward these exciting plans.” Councillor Shama Tatler, Lead Member for Regeneration, Property and Planning at London Borough of Brent, said: “SEGRO V-Park Grand Union is a welcome addition to the borough. Not only will it support hundreds of new jobs during its creation, but it will also provide high quality industrial floorspace suitable for operating in the light industrial industry. V-Park will attract a range of occupiers – from start-up to more established businesses. “Later this year we will be welcoming our first residents to Grand Union as part of our partnership with St George and we look forward to seeing them settle into their new homes as the development transforms into a thriving place to live, work and connect.” Jules Pipe, Deputy Mayor for Planning, Regeneration and Skills at the Greater London Authority, said: “SEGRO V-Park Grand Union is a very welcome, innovative approach to industrial intensification that will form part of an exciting new mixed-use development in London. The development will provide high quality homes, whilst creating much needed industrial workspace for a rich variety of small businesses that will create hundreds of jobs in the community. We are looking forward to SEGRO and St George delivering a new, vibrant, mixed-use scheme that will bring affordable homes and jobs to Brent”.
Leading construction, property and management consultancy, Rider Levett Bucknall (RLB UK Ltd) has been awarded a place on The Guinness Partnership’s new Employer’s Agent Services Framework. RLB will offer Employer’s Agent services and Clerk of Works across the framework’s three regional lots: North; South, London and South East; South West. A strategic partner of both Homes England and the Greater London Authority, The Guinness Partnership provides social housing within 125 local authorities across England. The new Employer’s Agent Services Framework, is set to run for four years and will support the delivery of a significant programme of new build schemes. Commenting on RLB’s appointment, Kat Hurworth for The Guinness Partnership said: “We look forward to working with RLB, alongside our other newly appointed consultants.” Richard Quarry, Framework Lead and Partner – Head of Affordable Housing – at RLB UK said: “Supporting The Guinness Partnership and its progressive build programme through this new framework is a brilliant appointment for the RLB team. Being awarded a place on each regional lot demonstrates our expertise in affordable housing across our UK network of offices. We are delighted to be continuing our relationship with this fantastic housing association which has its customers at the heart of building safe, high quality and well-designed homes.”
This March, it has been revealed that Bellway has now sold its interest in its JV organisation alongside the Greater London Authority. The partnership, called Barking Riverside, has seen such interest pass to L&O New Homes, as Bellway now looks to utilise the funds acquired to reassess the strategic focus of the company’s accounts and shareholder returns. In the sale, Bellway received £17m up front, with a further £43.5m expected to come to the company over the course of the following three years. And while this is already a significant amount of funds for the company to now play with, additional savings will also been seen as the organisation no longer sees its costs inflated in the provision of infrastructure and maintenance for the site. Looking at where the company will utilise the funds in a manner deemed best for the continuity of the company, Bellway intends to invest the disposable proceeds into a number of new land opportunities, with the hopes of securing considerable returns which can then create further financial value and returns for shareholders. Providing example to such sites the company will be looking at, Ted Ayres, Chief Executive of Bellway nodded to the company’s site in Horsham, originally contracted this march for 165 residential houses – most notable with this project is the provision of an outline planning permission, highlighting projected returns of greater than 20%. Yet, not completely stepping away from the site, Bellway has also entered into another, optional deal whereupon it will be able to purchase some 2,600 plots for development in the remainder for the Barking Riverside site, which is on top of the 438 plots already owned by the partnership. Of course, the deal comes at a good time for Bellway also, with the company already making great ground in securing enviable revenues and profits for shareholders. In fact, half-year revenues up to this January have showcased a 40% jump in profit, and a 30% rise in revenue achieved. As such, it can only be hoped that the recent development will see these figures rise yet further for the company as it continues to strategically plan for further financial success.
