Steder Group charts steady course to Renfrew Canmoor is set to welcome the Steder Group, as the latest new occupier at Westway Park in Renfrew. The global logistics service provider has signed up for 60,000 sq ft of logistics space at the newly refurbished Block D on a ten-year lease.
Arden Cross, one of the country’s best-connected strategic locations and home to the HS2 Interchange Station, is seeking an investment and development partner to help bring forward its proposals to create a world leading economic hub at the centre of the UK. Global commercial real estate services company JLL has
Strategic Appointment Follows Lettings Success Barings Real Estate, one of the world’s largest diversified real estate investment managers, has appointed JLL to the leasing team at its 180,000 sq ft Landmark development in Manchester City Centre following a series of high-profile transactions at the building. JLL joins CBRE and Colliers
Permission granted for major new warehouse development of 113,000 sq ft at a site in Darlaston, adjacent to the M6 near Wednesbury in the West Midlands St Francis Group, a leading UK-based property development and investment group and an expert in brownfield development has announced that it has received planning
Mountpark Logistics, a leading developer of industrial and logistics property, today announced that it has leased a 307,807 sq ft distribution centre at Mountpark Warrington Omega II, to leading recipe box company, Gousto. Following strong trading from the start of the year, with revenues for the first quarter reaching 70%
Canmoor is delighted to announce that Malcolm Group has agreed terms for 67,000 sq ft of warehouse space at Westway Park in Renfrew. The deal represents the largest lockdown industrial deal to be concluded in Scotland so far. Malcolm Group, one of the UK’s most successful logistics, construction and maintenance
A JLL annual central London offices seminar has highlighted the strength of the capital’s office market amid political and economic uncertainty, underlining its continued pull to both investors and occupiers. Central London has seen sustained levels of both leasing and investment activity so far in 2018 and corporate property consultant
JLL and CBRE have been appointed to lease Budapest ONE Business Park, which is an iconic office development project developed by Futureal Group in Hungary. Both advisors will be cooperating on a co-exclusive basis on the office complex. Budapest ONE Business Park will be located next to Etele square, an
BDC 319 : Aug 2024
Steder Group charts steady course to Renfrew Canmoor is set to welcome the Steder Group, as the latest new occupier at Westway Park in Renfrew. The global logistics service provider has signed up for 60,000 sq ft of logistics space at the newly refurbished Block D on a ten-year lease. The Scottish & Dutch-owned company, which is headquartered in Hillington, Glasgow and in Rotterdam in Holland, is relocating its UK Warehousing & Logistics Services side of the business to Renfrew from Hillington. The new unit will be used for storage and distribution functions, whilst the main freight forwarding, customs brokerage, sales, marketing and administration will remain at its Hillington HQ. Steder Group is set up to handle any logistics challenge and can offer a complete range of logistic services within a broad, worldwide network. In Scotland, this includes forwarding, air cargo, with services, including handling customs documentation for a global customer base. The new facility in Renfrew is part of the UK arm of the business, which along with its HQ in Hillington also has bases in Aberdeen, Queenslie & Dunfermline. Steve Logan, Managing Director of Steder Group said: “Quality space, connectivity and site security were the prime drivers for our move to Westway. We look forward to being fully operational with our warehousing & logistics staff, with potentially up to 20 staff at some stage this year. “Our goal is to be the one of the best complete logistics service providers in Scotland and this new facility will enable us to continue to deliver high quality and customised service to our customer base and partners, both in the UK and globally. “Steder Group in the UK was born in early 2016 in Glasgow, achieving considerable success in such a short timeline. This vital warehousing deal with Canmoor was essential to allow us to continue to grow our business in today’s hectic and challenging marketplace. “I’d like to thank Rob Large and all of the Canmoor team, along with the site marketing director for JLL, Andrew McCracken for all their help and assistance in helping us push through and conclude this deal within the timelines required to support our business requirements.” Toby Saul, Asset Manager of Canmoor added: “Since acquiring Westway in 2018, our strategy has been to invest in the existing stock, to attract top occupiers. We have committed more than £12 million to building refurbishment and infrastructure improvements across the park, including £3 million in the refurbishment of D Block. “Securing Steder Group within three months of practical completion, along with a pre-let to Agility Logistics underlines the success of our strategy, with D Block now fully-let to two best in class logistics operators “Over the course of 2021, we completed circa 425,000 sq ft in lettings and re-gears, making Westway one of the strongest industrial and distribution assets in Scotland. “We have now started the next stage of our refurbishment programme at Block J and Unit G1 with further infrastructure improvements and investment at Westway to be announced shortly.” Westway is a key strategic industrial and distribution location that offers excellent connectivity to the whole of Central Scotland, with Junction 27 of the M8 only 3 minutes drive away. It is located in the heart of the Glasgow Airport Investment area, which is one of the key City Deal projects that will benefit from £39.1m of inward investment over the next 10 years. This will deliver significant infrastructure investment to the area including a new two-lane bridge over the White Cart, directly linking Westway with the investment area and airport, which is scheduled to open later this year. Westway also benefits from having its own private dock facility on the White Cart Water which accesses the River Clyde. This provides an alternative shipping solution particularly for large products that are unsuitable for transport by road. Andrew McCracken, Director of JLL said: “This deal underlines the demand for well-located, top quality logistics space in the Scottish market. Westway is one of the top locations in Scotland and we anticipate further positive demand for space at the park during 2022.” Canmoor’s joint agents are JLL and Colliers, with the park being managed by Knight Frank.
Arden Cross, one of the country’s best-connected strategic locations and home to the HS2 Interchange Station, is seeking an investment and development partner to help bring forward its proposals to create a world leading economic hub at the centre of the UK. Global commercial real estate services company JLL has been appointed to help promote the £3.2 billion mixed use scheme and bring an experienced, empathetic and creative key investment and development partner on board with strong placemaking credentials to build upon the investment to date and maximise the masterplan aspirations to create an exceptional new UK destination. Arden Cross extends to 346 acres to the east of the NEC campus and M42 motorway. It will deliver 6 million square feet of ultra-connected, commercial development space, up to 3,000 new homes and a network of sustainable new public realm and green spaces which retain and enhance the local historic landscape features. The scheme, which is centred around the principles of sustainability and connectivity, has the potential to boost the regional economy of the Midlands by over £1 billion a year and in turn create and support up to 27,000 new jobs. It will also help to fulfil the government’s national levelling up agenda and create an international co-location opportunity that will deliver commercial, academic, business and living uses side by side. With the HS2 Interchange Station acting as the catalyst to create unprecedented economic growth for the region, Arden Cross Limited has developed the masterplan in partnership with public sector stakeholders including the West Midlands Combined Authority, the Urban Growth Company and Solihull Metropolitan Borough Council to reflect a shared vision that unlocks the site’s full potential to deliver jobs, homes and public spaces for the region. Cllr Ian Courts, Leader of Solihull Council, said: ‘This opportunity is a unique proposition within the UK, creating a gateway location for Solihull, the West Midlands and the nation and a place where international organisations and businesses can interact and learn together. It will boost next generation R&D opportunities while complementing the strengths of the region’s existing sectors and unbeatable location, opportunity and lifestyle.’ Arden Cross Limited Project Director, Ben Gray, said: ‘Arden Cross will create a new economic powerhouse for the UK with significant international appeal. It is a once in a generation opportunity and the appointment of JLL is a significant step towards attracting a partner who will be able to capitalise on the masterplan principles to unlock the transformational Arden Cross vision and deliver a world class destination.’ Nick Brown, Chairman of the Urban Growth Company (UGC), which is leading infrastructure investment and development across the wider UK Central Hub, said: ‘Our vision for The Hub has Arden Cross and the HS2 Interchange Station at its heart, alongside our other world-class assets such as Birmingham Airport, the NEC, Jaguar Land Rover and Birmingham International Station. This significant milestone for Arden Cross really sends a message to the world that The Hub is going to be one of Europe’s best-connected destinations for business, leisure and living. This new investment and development partner is going to be working alongside ambitious and committed partners determined to make The Hub a globally-renowned destination contributing unprecedented economic, environmental and social benefits here in the West Midlands and beyond.’ Commenting on the appointment, Alistair Meadows, Head of Investor-Developer clients at JLL, said: ‘Arden Cross will appeal to international and domestic developers and investors encouraged by the transformational changes in the Midlands’ regional economy and the significant opportunity presented by this extensive, cohesive and connected mixed use scheme. It represents a key part of the Midlands Engine initiative to ambitiously grow our regional and national economy.’ At the very heart of the UK, Arden Cross sits alongside Birmingham Airport, the NEC, Birmingham Business Park and Jaguar Land Rover, and is an integral part of the Urban Growth Company’s wider plans for UK Central. Linking the HS2 Interchange Station to the nearby NEC, Airport, Birmingham Business Park and Birmingham International station, Arden Cross will provide direct access to London and the regional centres across the UK.
Strategic Appointment Follows Lettings Success Barings Real Estate, one of the world’s largest diversified real estate investment managers, has appointed JLL to the leasing team at its 180,000 sq ft Landmark development in Manchester City Centre following a series of high-profile transactions at the building. JLL joins CBRE and Colliers International as agents on Landmark. Landmark has had a strong start to 2021, securing two global occupiers and a coffee bar operator since the start of the year. In January, Barings announced it had signed a management agreement with flexible workspace group, Hana, for 32,000 sq ft at Landmark. Hana will design, build and operate the flexible space, called Hana at St Peter’s Square, which isexpected to open in mid-2021. Additionally, global professional services firm Grant Thornton agreed a 15 year lease to relocate its 350-strong Manchester team into the 13,219 sq ft eleventh floor of Landmark and will take occupation of the space later this year upon completion of its fit-out. Most recently, it was announced that award-winning premium coffee company and social enterprise supporting people out of homelessness, Change Please, will operate the coffee and pastry bar within Landmark. JLL is an existing occupier at Landmark, having moved its Manchester team into the 14,004 sq ft 10th floor last year, representing JLL’s largest commercial office outside of London. Ian Mayhew, Managing Director at Barings, said; “JLL’s 10th floor office within Landmark is an exceptional space and is on target to achieve WELL Platinum and BREAAM Excellent for its impressive and sustainable fit-out. Bringing JLL on board was a natural move. In addition to being an excellent operator in the market, the team can utilise their first-hand experience of Landmark whilst engaging with potential occupiers and showcasing their space to interested parties. CBRE and Colliers International have secured us three important occupiers in quick succession, during a pandemic, since we achieved practical completion of Landmark in 2020 and we are excited to be building on that success with the appointment of JLL to the leasing team.” Chris Mulcahy, Director of Office Agency at JLL, continued; “JLL chose to relocate to Landmark because the building was of the highest quality and for the first-class amenities and public transport links close by. Looking forward, these credentials are going to be increasingly important for when businesses assess their office needs. We are delighted to be joining the team and look forward to welcoming more neighbours shortly.” The 180,000 sq ft award-winning Landmark development, which completed in 2020, offers 14 floors of BREEAM Excellent and Wired Score Platinum certified, next generation office space in the world-renowned St Peter’s Square district of Manchester City Centre.
Permission granted for major new warehouse development of 113,000 sq ft at a site in Darlaston, adjacent to the M6 near Wednesbury in the West Midlands St Francis Group, a leading UK-based property development and investment group and an expert in brownfield development has announced that it has received planning permission for a 113,000 sq ft warehouse development at a site in Darlaston, near Wednesbury in the West Midlands. The 7-acre scheme – to be marketed as Parallel 113 is situated off the A4038 Darlaston Road and sits at the heart of the UK’s leading supply chain centres within easy access of junctions 9 and 10 of the M6 together with being in close proximity to the M5, M54 and M42 motorways. The development is to be developed speculatively with site clearance work staring in January and the unit will be ready for occupation in the Spring of 2022. It will be developed to a high quality, grade A standard and incorporate 107,350 sq ft warehouse/logistics accommodation together with 5,650 sq ft of first floor office accommodation. It will feature 12.5m clear internal working height, 10 dock level doors, 2 level access, 50m depth secure fenced yard together with 101 car parking spaces and 98 HGV trailer parking spaces. Speaking about the announcement and development – St Francis Development Director Gareth Williams said: “This is a significant commitment to Walsall, the Black Country Enterprise Zone and to the greater Birmingham area. It shows our faith in the continued occupier story of increasing demand seen against dwindling stock and we expect to be delivering another high-quality scheme very soon”. Savills and JLL are jointly appointed to market the site.
Mountpark Logistics, a leading developer of industrial and logistics property, today announced that it has leased a 307,807 sq ft distribution centre at Mountpark Warrington Omega II, to leading recipe box company, Gousto. Following strong trading from the start of the year, with revenues for the first quarter reaching 70% year-on-year growth, the lockdown has accelerated the growth of the online grocery market and demand for Gousto’s recipe boxes is rapidly increasing. Revenues for the first six months of 2020 surpassed the £83m of sales reported for the whole of 2019. Gousto is therefore expanding its distribution network, helping it to at least triple capacity by 2022, with this new facility being a key part of the expansion programme. “The recent lockdown accelerated structural trends which were already firmly underway, opening up the recipe box market to a far larger audience. Now, even as lockdown eases, we’ve maintained record sales, with new customers won over by our market leading choice and variety, and the convenience of having fresh ingredients delivered to their door with no hassle or food waste” said Timo Boldt, CEO and Founder of Gousto. “We’re excited to open up this new energy-efficient facility at Mountpark Warrington Omega ll to help us step change capacity, enabling us to deliver even more Gousto boxes to households across the country, as we get closer to our mission of becoming the UK’s most-loved way to eat dinner.” The transaction is the first letting at Mountpark Warrington Omega II and was signed before practical completion. Mountpark is now working with Gousto to integrate elements of the company’s fit-out specification within the build programme. The Gousto facility is planned to go live at the end of 2021, and will bring over 400 permanent new jobs to the region, once fully operational. “We are delighted to welcome Gousto to Mountpark Warrington Omega II and to be working with the team to adapt the facility to meet the company’s exact operational requirements,” said Tom Kilmister, Development Director, Mountpark UK & Ireland. “Our aim is to offer customers the best property opportunities on the market and at Mountpark Warrington Omega II we are developing high quality units at one of North West’s premier logistics locations.” Construction at Mountpark Warrington Omega II started earlier this year and the first two units of 307,807 sq ft and 203,180 sq ft are on schedule to complete in January 2021. The third unit, totalling 225,000 sq ft, is programmed to complete in summer 2021. Designed to help occupiers become Carbon Zero, each building at Mountpark Warrington Omega II has a rooftop Solar PV array and battery storage system that will meet around 50% of the facility’s regulated energy. Mountpark Warrington Omega II is at the gateway to Omega South, part of the 575 acre mixed use Omega scheme at Junction 8 of the M62 north of Warrington, midway between Liverpool and Manchester. The first phase of Mountpark Warrington Omega is let to Royal Mail and the Delivery Group. Other occupiers at Omega include Brakes, Hermes, Travis Perkins, ASDA, The Hut Group, Dominos and Amazon. CBRE and JLL acted for Mountpark and Gousto was represented by SBH.
Canmoor is delighted to announce that Malcolm Group has agreed terms for 67,000 sq ft of warehouse space at Westway Park in Renfrew. The deal represents the largest lockdown industrial deal to be concluded in Scotland so far. Malcolm Group, one of the UK’s most successful logistics, construction and maintenance services companies, will use Block E3 for short-term storage requirements. Rob Large, director of Canmoor said: “Westway continues to offer the ideal property solution for prestigious occupiers like Malcolm. We always adopt a practical and ‘can do’ approach and were able to provide the right product and terms to meet Malcolm’s key business requirements.” Iain Davidson, of joint agent Colliers International added: “Malcolm has a long history with Westway and was attracted by the quality of space, as well as the great location and flexibility. The space requirement was time-sensitive and we were able to conclude the deal within six days of viewing.” Norman Pollock, of Pollock Property Advisors, who represented Malcolm, said: “Malcolm had an immediate need for storage space in a secure and well-connected location. Westway was quickly able to provide the perfect space solution, less than three miles from Malcolm’s headquarters at Linwood.” Westway offers excellent connectivity to the whole of Central Scotland, with Junction 27 of the M8 only 3 minutes drive away. The park is located in the heart of the Glasgow Airport Investment area, which is one of the key City Deal projects that will benefit from £39.1m of inward investment over the next 10 years. This will deliver significant infrastructure investment to the area including a new two-lane bridge over the White Cart, directly linking Westway with the investment area and airport. Other key occupiers at Westway include Doosan Babcock, AMG Group, JW Filshill, Malin Fabrication, the NHS and Strathclyde University. Westway joint agents are Colliers International and JLL. The Malcolm Group was represented by Pollock Property Advisors.
A JLL annual central London offices seminar has highlighted the strength of the capital’s office market amid political and economic uncertainty, underlining its continued pull to both investors and occupiers. Central London has seen sustained levels of both leasing and investment activity so far in 2018 and corporate property consultant JLL anticipates that the final numbers will match, if not exceed those recorded in 2017. £12.2 billion of central London offices have been traded in the first three quarters of 2018 following a strong Q3 performance where £4.3 billion of transactions were recorded. These latest year-to-date figures are only 6 per cent down on the corresponding period for 2017, a year that saw record investment volumes of £17.7 billion. Currently, £4 billion of assets are identified as under offer and another £4 billion of stock on the market and although this suggests that activity towards the end of the year will remain strong, it also highlights the lack of investment opportunities compared with the same period of 2017 when £16 billion was available. Take-up of offices across central London reached 8.3 million square feet at the end of Q3 2018, with 3.1 million sq ft leased in the West End and 4.5m sq ft in the City. Active demand remains well above the 10-year average, with over 9 million sq ft of enquiries currently searching for space – with demand spread across the occupier spectrum. Looking towards the transition at Brexit, and especially in the event of ‘no deal’, the leasing market could become relatively subdued as occupiers reconsider embarking on any new commitments in the short term. This will be relatively mild, however, as most demand is driven by unavoidable lease events rather than expansion, says JLL. Julian Sandbach, head of Central London Capital Markets at JLL, said: “At the beginning of the year it seemed unlikely that investment volumes would reach similar levels to the bumper numbers we saw in 2017, and now it looks possible that they could even be surpassed. Despite the degree of uncertainty around the outcome of Brexit, London continues to attract significant levels of overseas capital who continue to target prime assets. “As the record levels of foreign capital demonstrate the majority of international investors feel that whilst London is subject to some short-term uncertainty, the long-term prospects for London as a global gateway city with a secure investment platform, underpinned by the long-term commitments of occupiers, remain unchanged.”
JLL and CBRE have been appointed to lease Budapest ONE Business Park, which is an iconic office development project developed by Futureal Group in Hungary. Both advisors will be cooperating on a co-exclusive basis on the office complex. Budapest ONE Business Park will be located next to Etele square, an ideal location next to the exit of M1-M7 motorway, the Kelenföld Metro 4 stop, the regional train station, and the regional and local bus stations. The first phase of this project will contain nearly 25,000 square meters of offices for rent and 2,600 square meters of commercial and service unit. It will also provide significant green space and underground parking space with 480 parking lots. The work is expected to be finalised by the second half of 2019. “We appreciate the assignment and I am glad that along with our expert team we have won the trust of the building’s owner. Our office portfolio has expanded with such a great addition that it can accommodate the needs of those tenants who are looking for a pleasant but not downtown location where modern services are easily accessible by the employees. Based on the strengths of the building and our professionalism, we are confident that we will successfully fill up the office spaces,” commented JLL’s head of office leasing, dr. Péter Würsching MRICS. Judit Varga MRICS, Head of Advisory & Transaction Services, Offices at CBRE also added: “We are delighted to be part of this fantastic development and advise the landlord on the leasing of this project. Considering its location and architectural design of the office park, it is a unique building in the submarket. There is a huge potential to contribute growth of this part of the city in addition to encouragement of business life. Therefore, we expect significant result of deals from this assignment.” Futureal Group has become the first property developer in Europe to receive the WELL Building Platinum Precertification™ at the same time for three of its office building projects including Budapest One Business Park. The office complex has been designed and will be operated to make a positive impact on employees’ health and wellbeing. Currently there are 34 WELL Precertified office buildings worldwide.
