SHW concludes Crawley’s largest letting in three years at Atrium Court - Record take-up for Crawley office market in Q1 2022

SHW has recorded a record level of take-up in the Crawley office market, with approximately 78,000 sq ft let so far this year, and an additional 70,000 sq ft under offer.

This brings the long-term, average take-up to 130,000 sq ft, compared with 57,000 sq ft let/sold each year in 2020 and 2021.

As part of these Q1 figures, SHW has just concluded Crawley’s largest single office letting in three years at Atrium Court. The whole 33,978 sq ft office building has been let to Bramble Energy on a new 10-year lease at a rent of £15 per sq ft.

Atrium Court is a newly refurbished and remodelled office building providing ground and first floor accommodation with exceptional on-site parking. The property has new raised floors, air conditioning, LED lighting and a feature atrium.

With Crawley in a strategic position served by the M23 which links to the M25 in the North and Brighton to the South, Atrium Court is situated conveniently adjacent to Junction 11 of the M23 in leafy surroundings.

Savills acted jointly with SHW on the letting at Atrium Court for the building owners, Tri7.

Adam Godfrey, Senior Partner at SHW, comments: “Vacancy rates in Crawley are now running at 14% down from 16.5% at the beginning of 2022. This resurgence in demand bodes well for the town’s latest office building – The Create Building – which is currently under construction ad due for completion in June this year, providing up to 77,000 sq ft of brand-new Grade A space in the heart of Crawley.”

Located in the centre of the Gatwick Diamond, The Create Building is a nine-storey, Grade A office headquarters. Newly built in Crawley’s town centre Regeneration Quarter, the development offers easy access to cafes, restaurants, gyms, and the green space of the Memorial Gardens. With excellent links via road and rail to London and Gatwick Airport, Crawley is already home to household names such as Irwin Mitchell, Chubb, Travelopia, Spirent and Grant Thornton.

With a targeted BREEAM rating of excellent and an EPC of B, and parking at 1:350, The Create Building will provide super-efficient workspace.

SHW and Savills are also Joint Agents for The Create Building.

Regenerated Retail/Leisure Space Available on Brighton Sea Front with Significant Local Heritage

SHW has been instructed by Brighton and Hove City Council to market Brighton's historic Reading Room and Temple on Madeira Drive.

There are few locations more breath‐taking than this one. The Black Rock area of Brighton sits directly below the Regency architecture of the Kemp Town Estate. The ‘Reading Room’ originally served as a place for the wealthy to take in the sea air. The Temple, close by, was a “folly” which also offers superb views and outdoor space, making the Reading Room and Temple perfectly situated to become the new ‘places to be’ with over 1000 sq ft of indoor space and 2700 sq ft of outdoor terrace space.

Richard Pyne, Partner for SHW comments: “We are delighted to be working with BHCC & Rose Consulting on these fantastic properties which make up part of the Black Rock Rejuvenation project, which include a new 800m boardwalk, cycle pump track, outdoor play and sports area, improved transport links and an outdoor festival space."

Joshua Aylott, Graduate Surveyor at SHW adds: “This is an exciting project to be involved in given the prominent seafront location and extensive history of the two properties. The Black Rock Rejuvenation project will breathe new life into this section of Brighton’s coast by providing an exciting new space for retail and leisure. We’re expecting a high level of interest from national and local food and beverage operators and will work closely with BHCC and Rose Consulting to ensure the new tenants are the right ‘fit’ by meeting certain criteria including place making, sustainability and community benefit.”

SHW announces this year’s team promotions

SHW has announced seven promotions within its UK team.

Robin Howland has been promoted to Partner. Having joined SHW in April 2019, Robin is Head of Commercial Property Management (CPM), based in the Brighton office, responsible for CPM across Brighton and the South Coast. A Member of the IT Committee, he also works on the ISO27001 implementation team, and is heavily involved in SHW’s ESG initiatives, working with Tarniah Thompson, Head of FM and & Sustainability, to encourage Property Management clients and their tenants to develop their sustainability and community engagement.

Nigel Duffy and Justin Dyer have been promoted to Director level. Nigel is Head of Residential Management South, based in the Brighton, Eastbourne and Worthing offices. He is responsible for the Block/Estate management across the whole of Sussex and into the bordering county of Surrey. Since joining four years ago, Nigel has increased SHW’s residential management portfolio from 450 to 1,400 units.

Justin joined SHW four years ago with the firm’s acquisition of George Trollope Chartered Surveyors, making a total of 19 years’ service. Working within the London Commercial Property Management team, Justin’s previous residential experience assists in his commercial role, applying his knowledge to mixed-use schemes.

SHW has made three promotions to Associate this year. Luke Longley, who joined the firm as a graduate in 2016, works across the London and Croydon offices on Business Rates and Lease Advisory. He is an active ambassador of the department’s business plans and has recently taken on the additional role as Head of Graduates. In addition, Luke sits on the Green Committee, IT committee, and is an RICS APC Assessor.

Matt Davies also joined as a graduate in 2016 and works within the London Building Consultancy team. An APC Supervisor, Matt has a great reputation for advice within the residential sector and has taken a lead on business/client development. Thomas Tarn who works in the Office Agency team has also been promoted to Associate, predominantly across South and Central London. Tom has recently taken on responsibility for Head of Croydon Office Agency.

And finally, Harry Speed has been promoted to Senior Surveyor. Based in SHW’s Crawley office, Harry works in Agency with a focus on Sussex and north towards Croydon. Harry chairs the firm’s regional business development meetings and takes a lead role in organising regional corporate social responsibility volunteering days.

Russell Markham, Managing Partner of SHW, says: “I am delighted to announce these promotions.  Robin, Nigel, Justin, Luke, Matt, Tom and Harry have worked really hard enabling progression with the firm. These promotions reflect the passion each of them embodies to go the extra mile for their team and for our clients.”

SHW supports Footprint+ as Partnership Sponsor

SHW has joined Footprint+ as Partnership Sponsor, supporting the new UK property event for a zero-carbon future.

Footprint+ is a three-day event, to be held on 7-9th June 2022 in Brighton, gathering representatives from every sector of the UK property market to discuss and discover how to action state of the art methods to achieve Net Zero in real estate.

The exhibition will enable stakeholders and experts to meet face-to-face, learn from each other and build the relationships required for putting sustainable solutions in place.

Adrian Dack, SHW’s Partner and Head of Property Management, comments: “We are delighted to announce our participation at Footprint+ in the month we are dedicating to ESG/Sustainability.  This will be an important, informative and long-lasting event for our industry, bringing together like-minded people and companies dedicated to working together to achieve carbon neutrality.”

Book your tickets for Footprint+ here

Bridge continues its UK expansion with the appointment of David Sayers as Associate Project Manager

Bridge Industrial (“Bridge”), the US-based industrial real estate operating company and investment manager, has appointed David Sayers as Associate Project Manager as part of its ongoing UK expansion.

David will be working alongside Senior Vice President, Development, Stephen Vickers, and the wider UK team, supporting the firm’s project delivery in the UK, with a current pipeline of 430,000 sq ft of last mile logistics space within the M25.

David has over 10 years’ experience in the property market, starting his career as a Building Surveyor working at Knight Frank, Lambert Smith Hampton, and Cushman & Wakefield, before joining The Howard de Walden Estate as Projects Surveyor.

David’s addition to Bridge’s UK team follows the swift growth of its UK operation. Established in November 2020, Bridge completed its first site acquisition in Southall in early May 2021, followed by two further acquisitions in Uxbridge and Barking in June, and Croydon in August 2021. Bridge acquired their largest site to date, 9 acres in Weybridge, in January 2022. 

Paul Hanley, Bridges’ Partner, London, comments: “We are continuing with our ongoing acquisition programme to source development opportunities across Greater London, the South East, and The West Midlands for the delivery of last mile logistics facilities. The addition of David and his wealth of experience will help facilitate our development programme as we bring more sites to fruition. We are delighted to have him join the Bridge team.”

The announcement comes after Bridge secured planning consent for its first UK industrial development, Bridge Point Uxbridge. Bridge is actively pursuing land and development opportunities throughout Greater London, the South East, and the West Midlands.

The role of planning and sustainability

Planning was one of the first government functions to fully embrace the principle of sustainable development, and it plays a vital role in delivering change and long-term visions for new and existing communities.

The National Planning Policy Framework clearly states that the purpose of the planning system is to achieve “sustainable development”, containing strong policies on climate change. This has, in turn, led to some local authorities introducing even clearer targets to ensure that new development facilitates environmental improvements and provides mitigation against climate change.

Recent examples of this have included the London Plan, adopted in 2021, introducing a new requirement for development to “calculate whole lifestyle carbon emissions through a recognised assessment and demonstrate actions taken to reduce them,” in Policy SI 1. Professionals have described this approach as an ‘exemplar’ which needs to be actioned around the rest of the country.

Zoe Brown, Senior Planner at SHW, says: “On the south-coast, for example, Brighton & Hove City Council have introduced a requirement for all buildings above five metres to provide bee boxes, along with providing bird nesting boxes suitable for swifts. The aim is to increase the opportunities for biodiversity and to support the natural ecosystem.

“A number of other local authorities have also produced climate specific supplementary planning documents which further emphasise the ambitions for reducing carbon emissions and tackling climate change.”

Speak to the planning team today to discuss the environmental requirements for your project.

SHW Announced as Managing Agents Partnerships Latest Member

SHW Announced as Managing Agents Partnerships Latest Member

Better Buildings Partnership’s Managing Agents Partnership (MAP) has announced the joining of SHW to its membership. Their joining takes the membership up to 14 members.

SHW is an independent, full-service property real estate advisory business. SHW operate eight offices across the UK, serving clients and ensuring property works to their benefit. A business wholly owned by its Equity Partners, SHW is well-known in the market for its expertise in Office, Industrial, and Retail property, supported by its specialists in Investment, Town Planning, Development, Healthcare & Medical, Roadside, Charities, LPA Receivership, Airports, Leisure and Leasehold Reform.

SHW’s commitment to sustainability spans across their corporate business, from operating a Green Committee embedding eco-friendly practices to their portfolio where they prioritise energy management, building efficiency and sustainable supply chains, through to social value where they support industry charities and hold volunteer days. Alongside this, SHW operate an invaluable training scheme and prioritise nurturing talent. The organisation currently has eight interns, five apprentices and 14 graduate/trainee surveyors.

Sarah Ratcliffe, CEO, Better Buildings Partnership said: “SHW are joining the Managing Agents Partnership at an exciting time as we look to amplify its impact in the industry. We’re delighted to welcome SHW to the partnership and we look forward to supporting their sustainability journey”

Adrian Dack, SHW’s Partner and Head of Property Management said: “The built environment contributes to around 40% of the UK’s total carbon footprint. Aided by the major property funds, the Sustainability agenda has now come to the fore, and while these funds are working to reduce the impact of their property portfolios, we mustn’t forget the large swathes of real estate held by others. Only by working all together, building better partnerships to implement sustainability measures and engage with landlords and occupiers, large and small, can we truly make a difference.”

SHW

SHW is an independent, full-service property real estate advisory business. From our eight offices we serve our clients across the UK, providing the right answers to their property needs and making property work for their benefit.

A business wholly owned by its Equity Partners, SHW is well-known in the market for its expertise in Office, Industrial, and Retail property, supported by its specialists in Investment, Town Planning, Development, Healthcare & Medical, Roadside, Charities, LPA Receivership, Airports, Leisure and Leasehold Reform.

Working in partnership runs through our business internally and externally with clients, contractors, and third-party advisors. We provide a bespoke and flexible service whilst achieving and exceeding regulatory compliance and best practice. It is this culture of collaboration that allows us to develop solutions that work for our clients and our employees.

SHW’s Property Management division undertakes Commercial, PRS and Block/Estate Management across the UK, delivering property management services on over 12,000 units.

-          ISO 14001 certified since 2012

-          Green Committee embeds sustainability within SHW Internally

-          All commercial supplies procured on behalf of clients 100% renewable

Adrian Dack, SHW’s Partner and Head of Property Management: “The built environment contributes to around 40% of the UK’s total carbon footprint. Aided by the major property funds, the Sustainability agenda has now come to the fore, and while these funds are working to reduce the impact of their property portfolios, we mustn’t forget the large swathes of real estate held by others. Only by working all together, building better partnerships to implement sustainability measures and engage with landlords and occupiers, large and small, can we truly make a difference.”

Pocket Living to further accelerate housing delivery with £19.3m funding deal secured from Pluto Finance

Affordable housing developer Pocket Living has secured a £19.3 million debt facility with Pluto Finance, a leading provider of finance for property developers and investors, against its recently completed Addiscombe Grove asset in Croydon.

This represents Pocket’s second funding partnership with Pluto Finance, which is a 12-month facility structured by LEXI Finance. This deal will accelerate the deployment of the funds to support the delivery of Pocket’s future schemes, providing homes specifically for those looking to get on the housing ladder.

The 153 homes at Addiscombe Grove are delivered as a ground-breaking joint venture between Pocket and housing association Optivo. The 112 one-bedroom Pocket apartments are available exclusively to first-time buyers who live or work in London and earn under the Mayor of London’s income threshold for affordable housing. The apartments are available from £260,000 - a minimum of a 20% discount to the local market, and purchasers own 100% of their property. The remaining 41 homes will be delivered as Shared Ownership by Optivo. The joint venture presented the opportunity to deliver a 100% affordable housing development near East Croydon Station.

The development, designed by award-winning architects Metropolitan Workshop, completed in March 2022, and Pocket has already welcomed its first residents. Each apartment has access to three landscaped roof gardens as well as amenities including a residents' lounge, co-working space, a wellness room, and cycle storage.

Paul Rickard, Chief Financial Officer at Pocket Living, comments: “This £19.3 million funding agreement marks Pocket’s second deal with Pluto Finance and demonstrates their confidence in us and our model, as well as the need to continue delivering homes for those who otherwise might not be able to get on the ladder in their local area.

“We recently completed our 1,000th home at Addiscombe Grove in Croydon and, with the support from providers such as Pluto Finance, we look forward to delivering many more much-needed homes across London and beyond.” 

Greg Dunne, Lending Director at Pluto Finance, added: “Pluto Finance are delighted to have completed a second Exit Bridge loan with Pocket Living, further showing our belief in their model and product but also strengthening our relationship with them. At Pluto we pride ourselves on repeat business with our clients, helping to deliver a flexible and efficient service for all their funding requirements.’’

Sam Le Pard, Director at LEXI Finance, added: “Pocket Living and Pluto were a great match, so we were glad to have structured the facility and brought these partners together. Greg and the Pluto team quickly understood Pocket’s unique model and presented incredibly competitive terms.

“LEXI are proud to have supported Pocket Living in their delivery of affordable houses for local people and are looking forward to working with both parties again in the near future.”

This deal follows Pocket obtaining a 12-month £6.6 million debt facility with Pluto Finance in September 2021, which was secured against its Harbard Close asset in Barking.

SHW APPOINTS TARNIAH THOMPSON TO HEAD OF FM & SUSTAINABILITY

SHW has appointed Tarniah Thompson as Head of FM & Sustainability.

With over 10 years’ experience working in facilities management for both investors, occupiers and managing agents, including two years at SHW, Tarniah has worked to implement ESG and key Facilities Management initiatives whilst engaging with occupiers and clients to reduce the impact of properties, while improving their performance.

Based in SHW’s London office, Tarniah will be responsible for the Facilities Management and Risk Management teams across the firm’s network of offices, along with the delivery of its Sustainability service across the Property Management division and supporting the wider business.

Adrian Dack, Partner and Head of Property Management at SHW, comments: “Tarniah has a true passion for ESG/Sustainability. With her background and ‘on-the-ground’ work in Facilities Management, she has a wealth of first-hand knowledge and success in implementing, managing, and driving forward ESG initiatives at a property level and is the perfect candidate to push forward our continuing work in this area.”

Tarniah says: “ESG/Sustainability continues to grow in importance for landlords and occupiers every day. Not purely from a legislative perspective, but also as part of attracting investors, employees, and customers.

“Our sustainability service is focused on helping our clients develop and achieve tangible, sustainable outcomes to fulfil environmental, social and corporate governance across their assets, as well as fostering a true moral belief in the benefits our collaborative efforts contribute to the built environment and beyond.”

April is ESG/Sustainability month at SHW.

Bridge secures planning consent for first UK industrial development

Bridge Industrial (“Bridge”), the US-based industrial real estate operating company and investment manager, has achieved planning consent for Bridge Point Uxbridge, its first UK development.

Planning approval has been given by the London Borough of Hillingdon for a single, detached, 50,315 sq ft prime last mile warehouse / industrial unit on Riverside Way, Uxbridge UB8. Work will start on site in Q2 this year to demolish the existing office building upon vacation of the current tenant to create a Class A, sustainable new building to serve the last mile sector.

The 2.30-acre (0.93 hectare) site, located in Riverside Way Industrial Estate, has two access points and fronts Riverside Way which is accessed from the A4007, providing good connections into Central London and to the UK motorway network.

Completion of the project is scheduled for Q1 2023 and Bridge Point Uxbridge has now been brought to the market, available to let through retained agents Savills and Cogent Real Estate.

Paul Hanley, Bridge’s London Partner, comments: “We are, of course, thrilled to secure our first planning consent in the UK. Thank you to Hillingdon Council and everyone involved for their hard work in getting to this point in the development process. We are all set to start on site upon the vacation of Starlight Designs at the end of their lease in May, with completion of this high-quality facility in Q1 2023, as planned.”

Bridge acquired the Uxbridge site in July 2021 - along with a site in Barking - following its launch in the UK in November 2020. These site acquisitions were preceded by the purchase of what will become Bridge Point Southall in May 2021 and followed by two further transactions in Croydon and Weybridge.

Paul adds: “We are continuing full steam ahead with the planning process for our four other current development projects within the M25 and look forward to announcing more good news on planning applications and further site acquisitions soon.”

Bridge is actively pursuing land and development opportunities throughout Greater London, the South East, and the West Midlands.

The Waterfront at Sovereign Harbour, Eastbourne is Now Fully Let

Premier Marinas, advised by SHW, has let the last available unit at The Waterfront, Sovereign Harbour, Eastbourne to Bella Sol, operating as a tanning salon.

This latest addition completes the line-up of tenants at The Waterfront, following lettings to: Goodlife, a men’s barbershop in May 2021; Waterfront Convenience Store in June 2021; Planet Golf in January 2022; and Marina Turkish Restaurant and Lounge, boasting an impressive outdoor dining area, in January 2022.

The Waterfront is located within Sovereign Harbour, northern Europe’s largest composite marina complex, in Eastbourne - the second largest town in East Sussex. Already boasting an impressive array of food and drink, pamper and retail outlets, as well as refurbished office suites, with ample free car parking, the recent lettings add to the variety of facilities and attractions on offer.

SHW’s Surveyor, Max Perkins, retained agent for The Waterfront, comments: “Since taking over responsibility of commercial lettings last year, we have since secured a total of 9 new tenants at The Waterfront, despite recent uncertainty effecting the retail and office sectors. With the whole estate now fully let, this destination will continue to be at the forefront of Eastbourne’s many leisure attractions.”

"It is fantastic to be at full occupancy at The Waterfront," Premier Marinas Estates Manager, Richard Saville says, "especially so in the context of challenging economic conditions. We're proud to support local businesses and are looking forward to seeing how much excitement these new attractions will generate in the community."

SHW COMPLETES LARGEST OFFICE LETTING IN BRIGHTON AT QUEEN SQUARE HOUSE

SHW has completed one of the largest office lettings in recent years in Brighton, with the letting of Queen Square House, Queen Square on behalf of the owner.

SHW negotiated the surrender of previous tenant Domestic & General’s lease and a new lease on the 37,000 sq ft office building to Instant Managed Offices Limited.

Paul Spruce of SHW commented: “This letting confirms the continuing strength of the office market and the attraction of Brighton as an office location.”

VIPS HEAD TO CRAWLEY FOR INVESTOR TOUR

The opportunities for investors and developers around Crawley were highlighted this month at the Invest Crawley Investor Tour.

Returning after a two-year absence, more than 50 VIP guests headed to SHW’s town centre office for a networking breakfast and opening speeches from SHW Senior Partner Adam Godfrey and Leader of Crawley Borough Council, Councillor Peter Lamb, who said the public sector was “doubling down on Crawley as being one of the best opportunities for growth” and expressed how the council was willing and wanting to work with businesses, and asked them to come and work with them.

Guests then boarded a special Metrobus service – after visiting nearby Global House, which has an excellent EPC B rating, and electric vehicle charging points which can be expanded depending on occupiers’ needs alongside other efficiency measures – for a tour around Manor Royal Business Park and towards Gatwick Airport, guided by Mr Godfrey and Manor Royal BID’s Executive Director Steve Sawyer. Gatwick’s Head of External Engagement and Policy, Alison Addy also gave an update on the Airport’s 2022 plans as the bus drove past the runway.

Delegates heard about the demand for high-quality office space that occupiers were looking for in Crawley – including the new, nine-storey, Create Building which is housing the council’s new Town Hall alongside 77,000 sq ft of Grade A, flexible, commercial space available later this year, as well as the benefits of its location being placed so close to Gatwick and only a short train ride from London.

While on Manor Royal – one of the largest business parks in the UK with 9 million sq ft of business space, 600 employers and 30,000 employees – the tour made a stop at leading radiation therapy solutions innovators Elekta’s global headquarters in Linac House, who showcased their cancer care facilities to guests, followed by refreshments and networking.

VIPs also passed Panattoni Park, the 202,000 sq ft Manor Royal development due to complete in 2023, being constructed by newest Invest Crawley partner Panattoni.

The VIPs then returned to Crawley town centre on the Metrobus, taking in some of the development taking place on the outskirts of the town, before taking a walk through the town centre, led by Crawley Borough Council’s Economic Regeneration Manager Lynn Hainge to explore the opportunities available to investors and developers.

The tour closed at Crawley College, where Paul Rolfe, Director of Commercial, Sales and Marketing, updated VIPs on the College’s plans for the future, and how partnership working with some of the area’s largest employers was creating opportunities for young people in the local area.

Clem Smith, Crawley Borough Council’s Head of Economic and Environmental Services thanked guests for their attendance and gave an update on the council’s economic recovery plan and the Crawley Growth Programme. A buffet lunch was then held at Fifty Eight Restaurant – the College’s on site restaurant, where all food was cooked and served by talented students.

Adam Godfrey, Senior Partner at SHW, said: “It was great to see the Crawley Investor Tour return and be able to showcase and highlight the impressive amount that has been going in the borough to so many VIPs. Hopefully this kick starts even more conversations as we all continue to work towards a brighter future with our partners.”

The Invest Crawley programme is a partnership between Crawley Borough Council and key stakeholders. Partners of the initiative include Kier, Gatwick Airport, Manor Royal BID, Panattoni and SHW.

Vengrove Announces Three Senior Promotions

Investment manager Vengrove has promoted three members of its London-based team to Partner.

Directors Tim Lucas, Karan Daswani and Will Hunting will become Partners of the firm as of 1st April.

Tim Lucas is Head of Asset Management at Vengrove. Having worked with the firm for over six years, Tim oversees the development and implementation of business plans, ensuring all investments are optimised. He is also Chair of the ESG Committee.

Karan Daswani has also worked with the Vengrove team for over six years and is Head of Investment Operations, leading structuring, third-party financing, investment execution and investor reporting.

Additionally, Will Hunting is responsible for Vengrove’s investment activities as Head of Investment, overseeing sourcing, analysis and execution, having joined the firm in July 2020.

Vengrove continues to be active across several sectors including industrial, social & affordable housing, life sciences, offices and operational real estate. As such, the team is growing with a number of further hires anticipated this year.

Ross Taylor, Vengrove’s Chief Executive, says: “We are delighted to announce Tim, Karan and Will’s well-deserved promotions, reflecting the hard work and dedication each has shown across the company. Vengrove’s team is growing from strength to strength and they have all played an important part in our success to date.”

John O’Donnell appointed as Lending Director at Pluto Finance

Pluto Finance has made its second senior hire this month, appointing John O’Donnell as Lending Director.

John joins the London-based team from Hampshire Trust where he was Lending Director for seven years. Prior to this, John was a lender at Investec for 14 years.

John O’Donnell says: “I am pleased to have joined an established team in Pluto Finance who have strong institutional backing, including a new partnership with the UK’s largest private pension fund (the universities Superannuation Scheme). Pluto have recently dropped their minimum development loan size to £5m – this will allow me to bring Pluto’s market-leading leverage and pricing to a much wider pool of borrowers.”

Justin Faiz, Partner of Pluto Finance, comments: “John brings with him exceptional experience in the residential market, spanning residential development, bridging, asset management and planning projects.

“We are delighted to have appointed two Lending Directors this month to add to our strong team and look forward to announcing further appointments as we continue our expansion programme, accelerating our development, bridging and investment lending over the next 12 months.”

Pluto Finance is backed by some of the world’s largest institutional investors and is currently funding the development of over 2,000 new homes in the UK.

SHW wins new contract with Arun District Council - SHW appointed to manage the Arcade, Bognor Regis

SHW has been appointed on a two-year contract, by Arun District Council, to manage the Arcade, Bognor Regis, along with associated services for the wider estate.

The Arcade, Bognor Regis is located at the southern end of the shopping precinct and comprises 19 ground floor units, of which 17 units are currently let, with vacant spaces on the first and second floors above. The predominantly retail and hospitality units range from 161 sq ft to 1,507 sq ft.

SHW will assume management of the service contracts at the Arcade, including security, fire safety, cleaning, waste services, and pest control, ensuring minimum disruption to the tenants and the premises. In addition, SHW will provide property management and professional advice relating to the Arcade and Arun District Council’s wider general fund asset portfolio, which includes approximately 1,000 assets varying from beach huts to sports pavilions and light industrial units.

Adrian Dack, SHW’s Head of Property Management, comments: “This significant instruction is testament of the strength of our property management team and the wider professional and agency services provided by SHW across the UK. We look forward to working with Arun District Council and building a strong relationship with them and with their stakeholders across the portfolio.”

The appointment was won in competition with a number of other firms and one of several new mandates awarded to SHW over the last six months.

Paul Broggi, Property, Estates and Facilities Manager at Arun District Council, says: “The arcade is an important asset for both the council and the town of Bognor Regis. We welcome the appointment of SHW as our managing agents. With their experience and expertise, we are very much looking forward to achieving significant improvements in the general management of the arcade”.

Toolstation opens first branch in Hailsham, East Sussex

Clipstone Investment Management, advised by SHW, has let 10 Diplocks Way in Hailsham, East Sussex to Toolstation, for its first local branch.

The 6,828 sq ft trade counter unit is located in a prime position on Diplocks Way, positioned between Screwfix and Topps Tiles, to the east of the A22 and west of South Road (A295). The site is approximately 0.5 miles to the southwest of Hailsham town centre and the nearest railway station is Polegate, approximately 2.7 miles away.

Marc Cowley, Chief Investment Officer at Clipstone Investment Management, says: “We are delighted with the off-market deal secured by Max Perkins at SHW to bolster our trade counter terrace in Hailsham. As well as welcoming a great new occupier to the area, this deal provides strong rental evidence for a town that we have believed in for many years.”

Philip MacLauchlan of Adept Consultancy, who advised Toolstation, comments: “We are pleased to secure our first outlet for Toolstation in Hailsham in a perfect, established trade counter location, and look forward to opening the doors to new customers on 28th March.”

Eastbourne’s Chantry House office building now fully let

Chantry House, 22 Upperton Rd in Eastbourne is fully let following the latest letting to Reeds Solicitors who have taken 1,000 sq ft of office space.

SHW relocated to Chantry House in the summer of 2021 and was subsequently retained by the private landlord to let the remaining vacant space. In November 2021, SHW let 1,000 sq ft to Sussex Community Association, and this latest letting to Reeds Solicitors completes the line-up.

The private landlord commented: “Chantry House is a fine example of office space in a lovely environment, overlooking green space with views extending to the South Downs. With ample parking at rear, the space is both aesthetically and spiritually appealing whilst being practical and ideally located being only a 3-minute walk to Eastbourne train station and town centre.

“With the professionalism and reach of SHW, and the help of Max Perkins in particular, we knew it wouldn’t be long before Chantry House was fully let.”

Enterprise Rent-a-Car arrives at Lottbridge Drove, Eastbourne

Forte Developments, advised by SHW, has let 26-28 Lottbridge Drove in Eastbourne to Enterprise Rent-a-Car.

Situated in a prime industrial retail park location, Lottbridge Drove is in walking distance to a Tesco Superstore, MacDonalds, Argos and Homebase, as well as many other major retailers, and trade operators. The premises are approximately 2 miles east of Eastbourne town centre and benefit from immediate dual carriageway access to Eastbourne and the A22 (north/A27 (west/east).

Max Perkins, Surveyor at SHW, comments: “This 7,000 sq ft represented the perfect relocation opportunity for Enterprise, offering a very prominent site will full motor trade usage.

“On the back on this relocation, PJE Automotive has also come to the site to supply its Bosch Car service, providing MOTs, servicing, and repairs, taking a 3,000 sq ft unit.  And in addition, Forte Developments recently achieved planning consent to convert and extend the upper floors to luxury apartments, including a penthouse with a terrace.”

Vengrove Partners with Leading Impact Advisory Firm

Vengrove has commenced working with The Good Economy, who will act as the social impact advisor on its UK social housing strategy, VRE Social Housing Partners. The Good Economy’s role will enable Vengrove to measure, manage and report on the social impact of its investments.

The Good Economy is currently designing an Impact Measurement and Management System for Vengrove. This process involves defining strategic impact objectives and developing processes to assess impact in all parts of the investment process, including the design of an in-house social impact screening tool.

The Good Economy will also carry out field-based social due diligence on all Vengrove’s investments and potential partners to ensure they work with organisations who have proven experience in delivering high quality housing and support services. The Good Economy will also help with Vengrove’s quarterly impact reporting. Such reporting will ensure the strategy is assessed against its key impact objectives together with an appraisal of any impact-related risks.

Ross Taylor, CEO at Vengrove, commented ‘Our investments in social housing are made with the intention of generating positive social impact alongside a financial return. As such, it’s important to us that The Good Economy’s services will ensure that VRE Social Housing Partners has a high level of transparency and accountability to its tenants and investors’.

Andy Smith, Head of Housing Impact Services at The Good Economy added ‘We are looking forward to working with Vengrove as they integrate impact into each stage of their investment process.’