Property Development

St Francis announces the purchase of former Eggborough Power Station.

The site which extends to around 130-acres is situated off junction 34 of the M62 motorway and was purchased for an undisclosed sum. St Francis Group, a leading UK-based property development and investment group and an expert in brownfield development and regeneration has announced the purchase of the former Eggborough

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GODWIN OPENS LONDON OFFICE IN LINE WITH UK EXPANSION

GODWIN Group, the UK-based property development and investment company, has continued its growth, recently opening a London office to add to its existing bases in Nottingham and Birmingham. The new London outpost, based in the heart of the capital in prestigious Mayfair, provides a new base of operations for both

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Positive Outlook Across UK Real Estate

The real estate sector is collectively upbeat for the next year but remains guarded beyond that. Indeed, while 88% of respondents to a survey carried out by the British Property Federation (BPF) said they were confident the market could bloom for the next 12 months, their confidence was less certain

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Latest Issue
Issue 325 : Feb 2025

Property Development

St Francis announces the purchase of former Eggborough Power Station.

The site which extends to around 130-acres is situated off junction 34 of the M62 motorway and was purchased for an undisclosed sum. St Francis Group, a leading UK-based property development and investment group and an expert in brownfield development and regeneration has announced the purchase of the former Eggborough Power Station just off junction 34 of the M62 motorway in Yorkshire for an undisclosed sum. Built between 1962 and 1970 the coal fired power station closed in 2018 and has been sold by Eggborough Power Limited, a subsidiary of Czech utility Energetický a Průmyslový Holding (EPH).   The site extends to around 130 acres gross and St Francis Group intend to promote the site for a number of industrial and logistics units in a range of sizes to take advantage of its key strategic location fronting the A19, only 1 mile north of junction 34. Occupiers with build to suit requirements will also be targeted. Eggborough Power Limited have retained adjacent land to construct a new gas-fired power station. Speaking about the acquisition Gareth Williams, Development Director at St Francis Group said; “Having worked to consolidate our land bank over the last 24 months or so, we targeted this strategic acquisition to complement our remaining land holdings, giving the business additional focus and national coverage within the industrial sector. St Francis Group own several large sites across the UK at varying stages of planning and development. With over 1M sq ft of industrial warehouse space on site and another 4M sq ft in the planning process we are well placed to capture regional demand from the ever-expanding logistics market with continued rapid growth in e-commerce driving occupier requirements”. Also commenting Rob Braid, Group Chief Executive at DSM SFG Group Holdings added; “As a Group we are uniquely positioned to deal with the challenges of former heavy industrial facilities such as this. The underlying development potential must be strong to justify such a purchase but the decommissioning, demolition and remediation capability we have within DSM is also a key driver for us. This is a challenging but very exciting project”. Speaking about the sale Adam Booth, Managing Director for Eggborough Power Limited, also said “The sale of the station to St Francis Group represents a new and exciting chapter for this site, which has played a critical role in the UK’s infrastructure for over 50 years.  Eggborough Power will continue to maintain an active interest in the site as we pursue our plans to develop a new, high efficiency gas-fired power station on the former stock yard of the old coal station”. Cushman & Wakefield acted for Eggborough Power Limited.

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GODWIN OPENS LONDON OFFICE IN LINE WITH UK EXPANSION

GODWIN Group, the UK-based property development and investment company, has continued its growth, recently opening a London office to add to its existing bases in Nottingham and Birmingham. The new London outpost, based in the heart of the capital in prestigious Mayfair, provides a new base of operations for both arms of the business, Godwin Developments and Godwin Capital. Godwin is already creating links to Greater London, the South East and South West of the UK and further expanding the geographical scope of Godwin Developments’ commercial and residential portfolios. The new location will also provide important access to London’s financial network and wealth-raising opportunities for Godwin Capital, the investment arm of the business. Andrew Mitchell, group investment director of Godwin Group, said: “As a leading international financial centre, London is a key location for Godwin Capital to enhance its corporate profile, provide expansion opportunities and access to one of the world’s deepest pools of capital.  “The build-to-rent (BTR) sector continues to grow apace; operators are looking to take advantage of improved yields and a wider selection of sites across the UK as infrastructures improve and lower land prices make development lucrative. “Many of the key players in this market are based out of head offices in London. Godwin Group’s new London office is strategically located to provide this vital link, local contact and expertise for its regional businesses.” The London office launch comes after a number of high-profile new hires at Godwin Group. Staff numbers have increased by 60% as the firm’s growing number of regional projects has expanded. Recent successes include planning approval for Godwin’s proposed new BTR scheme of 201 apartments at The Landmark development in Derby, Godwin Capital’s launch of innovative new investment products and the launch of the group’s BTR brand called Core Living – which plans to build up to 2,500 new homes over the next four years. Stephen Pratt, group land director of Godwin Group, said: “Godwin Group has seen huge growth over the past months. Our new London office will allow us to accommodate further expansion plans and look to reach new markets in our key sectors. “These are exciting times for Godwin Group and we are looking forward to expanding our network even further with the opening of our London office.” Visit Godwin Group on https://www.godwingroup.co.uk/

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Which Houses Offer the Best Opportunities for Property Development?

Property development can be a worthwhile undertaking, houses are in constant demand and prices are rising so there are definitely opportunities for profit to be made. There are a lot of variables which add to the success of a development project, such as location and type of property, so it is important to do your research before getting started. Try a reliable letting agent in Sudbury, for expert local knowledge. Historic Houses Victorian houses offer fantastic property development opportunities because of their iconic features. If you are able to purchase a Victorian house, it is essential that you keep or restore the highly desirable period features, such as sash windows and stone columns. Keeping statement fireplaces and tiles inside the house, perhaps with a modern twist, adds to the appeal for many potential buyers. It is a good idea to ensure that the interior is bright and well ventilated. Victorian houses can often be dark inside which is one feature that is not so attractive. Victorian houses usually have a small garden which should be easy to maintain. The only risk is potential problems due to the age of the property, such as structural issues. These issues can be costly but, with the right research undertaken, are avoidable. Large Houses This seems obvious but larger properties offer several opportunities for property developers. One option for developing large houses is to convert them into flats. Once the property has been divided into flats, each unit can be rented or sold which generates more income for the developer. The ideal property is one which receives a good amount of sunlight. A high quality finish inside and a welcoming exterior will add value to any property. Alternatively, large houses could simply be renovated into a highly sought after family home. A property with a garden is always a good investment as this is a high priority for many people when buying a new home. How much work is required will depend on the condition of the property when it is purchased, so this is something to consider when buying a property for development. Smaller, City Houses Whether a smaller house near the city will be the best opportunity depends on your location. If you live somewhere with excellent transport links or in a city, there is usually a high demand for one or two bedroom houses. Commuters or first time buyers tend to prefer a smaller property to get them started on the property ladder. Houses which can provide off-street parking are ideal. Undertaking a property development project in a smaller house will usually take less time as there are fewer rooms to renovate. For this reason, smaller houses are ideal for someone who is working on their first property development project, or who has a limited amount of time and resources to commit. If finished to a high standard, the property is not likely to be on the market for long due to the increasing demand.

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Construction Students Build up Skills Working on Major Enfield Housing Scheme

Construction students have been gaining a solid foundation in the skills needed to work in the industry on a major housing project in Enfield. Groups of learners from The College of Haringey, Enfield and North East London (CONEL) have been undertaking work experience at the Dujardin Mews site since June 2016. CONEL offers a wide range of construction apprenticeships and courses from Level 1 to Level 3 in areas including bricklaying, carpentry and joinery, dry lining, electrical installation and plumbing. Dujardin Mews is the first phase of the Ponders End Regeneration programme and is the first social housing to be built in the London borough for 40 years. The development includes a mixture of town houses, flats and maisonettes and is due to be completed in February 2017. The latest work placement saw seven students from the College work on all aspects of construction at the site, including plumbing, electrical installation and painting and decorating. The work placements were arranged in partnership with construction firm Durkan, Joe Brennan Training (JBT), property developer Countryside and Enfield Council. “Growing up I was surrounded by family who worked in construction, and I thought I might have a natural talent for it,” said Level 1 Carpentry student Ben Newton,19. “I’ve learnt a lot at the College and on work placement from learning how to work better as a team to situational awareness and other skills you need on site.” Level 2 Plumbing student Anthony Tsangaris, 20, said: “I’ve always wanted to be a plumber. I am very practical and like using my hands, and I now have a much better knowledge of the job and the tools you need to use. The teaching at the College has been very good and the tutors are very supportive. I’ve enjoyed my time at CONEL” A number of students who have worked on the Dujardin Mews site are expected to be chosen for trainee positions or apprenticeships with JBT and Countryside on a much larger project to build nearly 1,000 new homes on the Alma Estate. “Dujardin Mews has not only provided a platform for training in construction, it has also presented a clear progression for CONEL students to move on to accredited apprenticeships on the Alma Estate over the next three years,” said Kevin O’Connor, Head of Social Responsibility and Inclusion at Durkan. “The quality of students from the College has been excellent, and we were delighted to offer the opportunity for them to gain experience on a working construction site.” The Construction Skills Network’s Industrial Insights 2016-2020 report expects the industry to grow by 2.5% each year – 3.5% in Greater London. Cllr Alan Sitkin, Cabinet Member for Economic Regeneration and Business at Enfield Council, said: “The large number of massive development schemes planned in Enfield means it is a hugely exciting time for the construction industry in this borough. It is vital that schemes such as these seek to raise awareness of the opportunities that exist for young people in the construction and other industries.” Read more at https://www.fenews.co.uk/sector-news/construction-students-build-up-skills-working-on-major-enfield-housing-scheme-13036

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Grandhome Trust to Build Over 600 Homes in Aberdeen Thanks to £7.9m Loan

The Grandhome Trust is set to build more than 600 houses in Aberdeen after a £7.9 million housing loan provided by the Scottish Government. This is phase one of the Grandhome site which has been given planning permission in principle for a 4,700 home community that will include leisure, retail, commercial and public space. For 2016-17, the Scottish Government’s Housing Infrastructure Fund has up to £50 million of loan and grant funding available to help unlock strategically important housing sites throughout Scotland. This year, Aberdeen City has already had their Affordable Housing Programme allocation pushed up to £10.9 million, which is an increase of 70% on last year. The Housing Infrastructure Fund is also considering other projects from throughout Scotland. Housing Minister Kevin Stewart paid a visit to the Grandhome site and he commented: “I am really pleased the first loan from this important Scottish Government fund is being used to unlock a key housing site. The first phase of 600 homes will include at least 90 affordable homes. “Today’s announcement underlines this Government’s determination to increase the pace and scale of development to deliver more homes. I look forward to further loans and grants being granted to projects across Scotland. “We have listened to our partners and are putting in place measures to support the increase in the supply of homes across all tenures, support jobs in the construction industry, and encourage inclusive growth in the wider economy. “We have committed to deliver 50,000 more affordable homes, with 35,000 available for social rent, over the next five years, backed up with investment of more than £3 billion. Projects such as this one today marks another step on road to delivering that pledge.” Meanwhile, Grandhome Trust trustee, Bruce Smith, said that the new community of Grandhome has been in the planning for over 10 years and the delivery of phase one infrastructure is a key milestone for them.

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Park Valley Mills Commercial Development Huddersfield Third Phase Complete and Fully Let

The third phase of the regeneration of the Park Valley Mills commercial development in Huddersfield is now complete and fully let. The site, owned by Holmfirth Dyers, is being transformed into a business park that features 18 brand new industrial units with office and storage space. The mills were formerly derelict for a number of years, with many buildings falling into disrepair. The revamped site off Meltham Road, Lockwood, will create new jobs and regenerate the area. In total, over 100 new jobs have been created on site. Phase Three of the commercial development is now fully occupied thanks to two significant new lettings. The new occupiers are Boge Compressors and The Gift Oasis. Boge Compressors will occupy Units 10, 11 and 12, which total 12,750 sq ft, while The Gift Oasis will occupy Units 13 and 14, a total of 5,000 sq ft. The Gift Oasis’ Lisa Benfield said: “By 2012, we were outgrowing our old premises in the Canal Works in Huddersfield and we were shoulder to shoulder with our quirky gifts. So the quest began for a new home. “Mountains of research and establishments later, Park Valley Mills was found. It was the shining light in the distance with its new buildings, which had more room, and an accommodating site manager, who agreed to our request to have an office attached to our warehouse. “Of course the large size, the security and the secluded location were also selling points when researching our new home. Park Valley Mills was perfect. Our staff has now increased for 10 to 20 and there is so much more room for stock, which is just as well with Christmas just around the corner.“ Work on the fourth phase of the 14,000 sq ft development will be finished next month with three units already under offer. Mike Haigh, partner with leading Leeds property consultancy Dove Haigh Phillips, commented: “This is a superb development for Huddersfield, which is already creating jobs and regenerating the area.”

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Positive Outlook Across UK Real Estate

The real estate sector is collectively upbeat for the next year but remains guarded beyond that. Indeed, while 88% of respondents to a survey carried out by the British Property Federation (BPF) said they were confident the market could bloom for the next 12 months, their confidence was less certain going into 2017 and beyond. More than half of those surveyed said that 2016 would be a year where development activity would rise but 46% noted concerns as we move into 2017. The surveyed has highlighted barriers to development, namely developable land being made available in London. Respondents encouraged local government to do more to help the property sector grow while calls in London for the assembly and sale of developable land continued. Investment was encouraged in the blossoming “build to rent” market (a sector which allows developers to keep ownership of those houses newly built). London remains, unsurprisingly, the favoured location for planned investment. 53% said their business plans to grow investment levels while 23% planned to maintain levels over the next year. Elsewhere, in the Midlands for example, 60% expect to add to their investment portfolio while 23% would keep levels the same. The North West of England saw respondents less eager to increase investment with only 25% saying they would do so. It was even lower in Scotland with just 16% revealing they would be happy to increase investment. BPF chief executive Melanie Leech acknowledged the important contribution the real estate sector makes to the UK economy and said it was crucial that it remains buoyant because of what it can do for “regeneration” and “growth” across the country. The positivity across the sector was therefore “welcome”. She said there was a number of things that can be done to see that positivity continue into 2017 and beyond. While she admitted some things are out of their hands, the government should set out a clear mandate to “assemble and sell” public sector land. She also noted her enthusiasm at data revealing that investment and a positive outlook was not solely based in the capital city but across the UK.

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