Bridge Industrial Announces Portfolio-Wide Commitment to Green Building Certification

This initiative will demonstrate the industrial firm’s strong sustainable performance across assets

CHICAGO, IL. (October 27, 2022) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, has furthered its dedication to sustainability by committing to pursue green building certifications for all future industrial developments.

Bridge will pursue LEED® Core & Shell certification for all buildings within its U.S. portfolio, while U.K.-based assets will seek certification under the BREEAM program. The firm chose these platforms based on their global recognition as leading standards for sustainable design and construction. The commitment to green building certifications signifies Bridge’s dedication to designing and building high-performance, sustainable properties, as assessed via each program’s requirements for location and transportation, site selection and management, water and energy efficiency, materials selection and waste disposition, indoor environmental quality and occupant well-being, and more.

For its U.S. assets, Bridge has engaged the green building consultancy firm BranchPattern to develop its prototype for the USGBC’s LEED Volume Program. The LEED Volume Program streamlines the certification process and maximizes the outcome of sustainable efforts by focusing on implementing uniformity across projects and procedures and by incorporating LEED prerequisites and credits into the delivery process. Bridge will utilize this prototype as a standardized approach to design and development nationwide.  

In addition to consulting on the LEED Volume Program, BranchPattern will act as Bridge’s advisor across green building initiatives and portfolio-wide decarbonization efforts, including net zero energy studies and embodied carbon calculations.

“Bridge’s commitment to the measurement and validation of sustainable design, as demonstrated by our green building certification pledge, highlights our understanding of the importance of integrating sustainability into all stages of design and development,” said Francesca De Amicis, Vice President of Operations and Sustainability at Bridge. “We are determined to drive sustainable value in real estate, and we are eager for our tenants, investors, partners, and the communities in which we develop to join us in our dedication to sustainability.”

The firm’s holistic strategy for advancing sustainable operations — across all stages of design, development, and management for all assets — is described in the company’s published 2021 ESG Report.

LOGICOR MARKETS STAFFORD WAREHOUSE FOLLOWING FULL REFURBISHMENT

Logicor, a leading owner and manager of logistics real estate in Europe, has announced that its Stafford 128 warehouse is available to let following a full refurbishment programme.

Situated on Mustang Drive, within an established Logistics Park in Stafford, Stafford 128 offers c.128,000 sq ft of immediately available, EPC A rated, modern industrial and logistics space.

The fully fitted warehouse, which features LED lighting, sprinkler system, frost protection and warehouse WCs and changing rooms, is prominently located next to J14 of the M6 motorway, connecting to the national motorway network.

With ancillary offices on the first floor, the warehouse also benefits from 12m minimum eaves height 11 dock loading and 2 level access doors and a large service yard, with 123 car parking spaces.

Anthony McCluskie Logicor’s Director, Asset Management, comments: “Stafford 128 benefits from being located in a prime logistics location and this is demonstrated by the presence of household name occupiers in the area including Screwfix, Culina, Iron Mountain and Altecnic, to name a few. One of the main factors which attracted these existing occupiers is the wealth of trained and skilled workers in the region and we look forward to welcoming more customers who will enjoy the same benefits the warehouse and its location offer.”

M1 and Knight Frank are retained as letting agents for Stafford 128.

https://stafford128.co.uk/

Valuation Office releases draft values

The Valuation Office has now released the draft values that will come into effect from 01 April 2023. In summary the total Rateable Value for England across all sectors increased by 7.3%. Regions also saw average increases with the largest being in the East at 14.4%, almost double the national average.

Looking at each sector individually, the picture is much more varied.

In England, the average Rateable Value for Retail has decreased by 10%. Yorkshire and the Humber saw the largest decrease at 14.%.

Whilst London only saw an average decrease of 8.9%, decreases were much more concentrated in Inner London with an average decrease of 12.2%. Boroughs such as Kensington, Chelsea, Hammersmith, and Fulham saw the largest decreases at 23.3% and 20% respectively. Outer London only saw an average decrease of 2.9%.

Industrial properties nationally have increased on average by 27.8%. In London and the Southeast, the average increase has been approximately 33% with the highest increase being seen in Southwark with an average increase of 65.4%. Merton has seen the highest increase in outer London with an average increase of 48.6% coming in slightly higher than Croydon at 41.8%

Offices in England have seen an average increase of 10.3% with the largest Region increase being in the East at 26.3% followed by the Southeast at 20%.

London has seen an average increase of 6.1%, below the national average but some boroughs, such as, Islington and Tower Hamlets saw decreases of 3.4% and 1.7% respectively, whereas Kingston Upon Thames and Sutton saw increases of 27.2% and 24.5%. The largest increase in Inner London was Hackney at 21.7%.

Get in touch with Daud Sadiq, Director, SHW, to discuss how this affects you.

SHW LAUNCHES 10 NEW WAREHOUSE UNITS TO THE CHICHESTER MARKET

SHW, on behalf of Chichester District Council, has brought 10 newly constructed industrial and warehouse units to the market, offering high-quality, energy efficient business space from 2,293 to 23,510 sq ft.

St James Industrial Estate, located on Westhampnett Road in Chichester, is currently nearing construction completion, ready for availability in January 2023, offering the perfect opportunity for local businesses looking to expand, or downsize, into brand-new, Grade A warehouse space.

St James Industrial Estate is located approximately 1 mile to the north east of Chichester city centre on the southside of Westhampnett Road, which joins to A285, linking to the A27 (Chichester bypass). Nearby occupiers include Lidl, Sainsburys, McDonalds and Aldi.

Offering a variety of sizes, the units benefit from 8.1m eaves height, 3 phase electricity and access to Ultra-Fast Broadband network. Built to a high energy efficiency standard, the estate also offers active electric car charging points.

Duncan Marsh, Partner at SHW, comments: “St James Industrial Estate offers a superb opportunity for an enterprise seeking high quality premises in the heart of Chichester. With there being a lack of industrial development currently in West Sussex, St James stands to ease the burden on the demand, and lead the way in innovative design with its excellent ESG credentials.”

SHW is retained as letting agent for St James Industrial Estate.

BREAKING GROUND AT SALTWHISTLE BUSINESS PARK

Vamos Invest has broken ground at Saltwhistle Business Park, Redhill, in an event hosted by Wilten Construction.

Located at 42-44 Holmethorpe Avenue, Saltwhistle Business Park will provide five, brand new, high-quality industrial warehouse units, offering business space from 5,310 sq ft to 31,546 sq ft, available to let in Q1 2023.

The development will be constructed with the latest environmental requirements in mind and will aim to be best in class, with an EPC A Rating and BREEAM “Very Good”.

Alex Gale, Partner of SHW, retained letting agent for Saltwhistle Business Park, says: “This new development will provide much needed, high quality industrial/warehouse space to suit the requirements of a number of occupiers.

“Located just one mile from Redhill Train Station, with great connections to Gatwick Airport and the UK motorway network via the A23, this area is a well-established industrial and warehouse location, with nearby occupiers including Screwfix, Howdens and Toolstation.”

Naim Basha, Managing Director at Wilten, says: “We are pleased to be on site for Vamos Invest, a key client for Wilten Construction. Aligned to our future ambitions, we are looking forward to setting the standard with our fully managed design service and best in class delivery, building our successful mutual future and developing our relationship as a preferred supply chain partner.”

David Morris of Vamos Invest, comments: “We are delighted to be working with Wilten Construction to deliver this best in class, last mile logistics building on a speculative basis. This is our first project with Wilten and we have been thoroughly impressed with their professionalism and straightforward approach. We look forward to developing our relationship further with them in the future.”

Vengrove secures third acquisition for VRE Industrial Partners fund

Vengrove has completed the acquisition of Unit 6 Westpoint Enterprise Park, Trafford Park, Manchester for VRE Industrial Partners, its UK industrial and logistics strategy.

The property comprises a 63,500 sq ft logistics unit let to Sadaqat Global Limited., a manufacturer and distributor of textiles and home furnishings.

It was acquired by way of a sale and leaseback for a term of 10 years with no break and is the tenant’s key UK distribution location.

Will Hunting, Partner & Head of Investment at Vengrove, commented, “This marks VREIP’s third acquisition in the North West and second in Manchester within the M60. The JV actively seeks exposure to locations with strong fundamentals and favourable supply and demand dynamics and, as one of the UK’s core industrial and logistics locations, Trafford Park typifies this.”

Vengrove was advised on the transaction by BNP Paribas Real Estate, Greenberg Traurig, LLP, Watts Group Limited, and Nova Ambiente (part of Nova Group, GBC)

GXO DEVELOPS PARTNERSHIP WITH LOGICOR AT WELLINGBOROUGH170

October 31st: Logicor, a leading European owner and manager of logistics real estate, has let its 170,598 sq ft Wellingborough distribution / production facility to GXO Logistics, on a new long-term lease.

Wellingborough170 will be used by the leading supply chain partner to help their customers fulfil increasing orders. 

Located on Park Farm Industrial Estate to the West of Wellingborough, a strategic logistics location in the East Midlands, with access to the M1 and A14 East Coast ports, Wellingborough159 is positioned in an established industrial and logistics park. Nearby occupiers including TNT, DHL and Co-Op.

Jack Garrett, Senior Asset Manager - UK, Logicor comments: “Increasing numbers of occupiers are being attracted to the connectivity credentials offered by this location, along with its strong population growth and highly skilled local workforce.

“GXO Logistics already have a presence nearby and know the area well, making this refurbished, high-quality distribution facility the ideal choice for them.”

Burbage Realty and DTRE advised Logicor.

SHW continues to grow it’s South East presence

(Managing Partner update – Russell Markham)

What an exciting year it has been for the whole property industry and especially for us here at SHW.

Perhaps the most exciting news for our growing team has been the completion of our definitive merger agreement with WSW Consultancy Limited. Listening to the requirements of our client base for Architectural and supporting services, this merger secures - for our team and our clients - exceptional Architectural experience and resource, along with an alignment of Building Surveying expertise that complement each other perfectly, enabling both firms to extend their property services both regionally and sectorally for existing, valued customers and future clients too.

Established in 1994, WSW is an independent consultancy of Chartered Building Surveyors and Architectural Designers, registered and professional members of the RICS. A successful, award-winning practice, WSW works primarily in the Homes Counties and London in both the private and public sectors, along with a number of national, corporate clients throughout the UK.

Based in Fleet, Hampshire, the company was formed by three founding partners who have worked together in providing quality professional service for over thirty years. Taking a holistic approach to architecture, the firm provides full design and project management services, along with a wider scope of services for its clients.

We are delighted to report that, since our initial discussions with the founders and the wider team, we have together, already, explored new business prospects, resulting in confirmed instructions and some other very exciting opportunities and look forward to our future growth together.

In the last couple of months, we have also launched our new website, as part of a rebranding exercise to show our strength as a South East-based company operating UK wide. The regions from which we operate have been rebranded, with new Heads appointed for each. Leading London, South London, SE M25 and SW M25 is Partner Alex Gale, with Partner Peter Coldbreath appointed as Head of  Crawley/Gatwick and fellow Partner David Martin as Head of Sussex Coast.

Across these regions and across service lines, we have secured many new instructions including winning a four-year Property Professional Services Framework agreement with the London Borough of Bromley, to support the efficient management and running of its estate. This framework includes advice and services ranging from rent reviews, business rates advisory, lease renewals, covenant releases, valuations and building surveys in addition to agency services covering all property sectors.

We have also been busy growing the team organically, this month appointing new Head of Planning Brett Moore, and last month welcoming our new Rating Team Director Daud Sadiq who has hit the ground running focusing on working with landlord and developer clients to mitigate and delete the rates liability on all types of vacant property, including those undergoing development.

As well as welcoming many more new joiners across all regions and service lines, this year’s intake of graduate appointments include: two in our Planning team helping to deliver planning services to the Building Consultancy and Development teams; two joining BCD; two Professional Services graduates; and two ‘Real Estate’ graduates working within agency and Commercial Property Management.

In other news, our whole team has taken part in a number of sporting events, including sailing, softball, volleyball, kayaking and our Great Walk in June to raise funds for our nominated charities this year: Calm and Sport in Mind, as well as dedicating time to help local communities with initiatives such as clearing an overgrown area at Bears Wood Scout Campsite in Croydon to use for pioneering and a tour of One Brighton for GCSE students at Patcham High School.

As part of our ongoing expansion, including the merger with WSW, we look forward to announcing further new joiners and client instructions, as well our ongoing work with our valued clients across our full line of professional and agency services, and keeping you updated with news and events in a busy fourth quarter for 2022.

LOGICOR MAKES NEW HOME FOR LOCAL PRINTING COMPANY IN STOCKPORT

Logicor has agreed a new 15-year lease with local printing business, Deanprint Ltd at its 22,023 sq ft warehouse in Stockport.

Unit 16, Lawnhurst Trading Estate has undergone extensive refurbishment to improve the efficiency of the building and improve its levels of sustainability. New LED lighting has been installed throughout, in addition to replacement cladding and insulation and a new level access door. 

James Carney, Logicor’s Senior Asset Manager, said: “Unit 16 has undergone a full refurbishment to bring the property back to life, providing high-quality, sustainable business space in this established industrial location. We are very pleased to provide a new home, on a long-term lease, for this local business and welcome them as a new customer to our UK portfolio.”

Deanprint was founded in 1890 in Stockport and moved into its first, purpose-built facility in 1920. It has since established itself as one of the most well-respected printing and bookbinding companies in the north-west of England.

David Thurrold, Managing Director of Deanprint Ltd, comments: “We are very proud of our Stockport roots and, while our previous premises served us well for over 100 years, we are excited to be starting a new chapter in this modern, sustainable building that perfectly suits our business space needs, enabling us to best serve our local and UK-wide customers.”

 JLL and Sanderson Weatherall advised Logicor as joint letting agents.

CROYDON INVESTOR TOUR HIGHLIGHTS BOROUGH’S EXPONENTIAL GROWTH AND FUTURE POTENTIAL

Last week, attendees on Develop Croydon’s Investor Tour were given an exclusive look at Croydon’s vibrant mix of businesses and the development opportunities available to those who see the borough’s potential.

Starting at BoxPark Croydon, this popular fixture in the Develop Croydon events calendar commenced with introductions from Chair of the Develop Croydon Forum and Partner at SHW Richard Plant; Heather Cheesbrough from Croydon Council; Develop Croydon’s Bonnie Stephensmith and Vanessa Clark of Chase Sinclair Clark. 

“The new mayor is committed to the town centre regeneration” commented Heather Cheesbrough, Director of Planning and Sustainable Regeneration at Croydon Council. “The opportunities are there, but we need to feed the pipeline. We want to help you.” 

In what is truly an unprecedented period of economic regeneration for the borough, guests were welcomed at several landmark developments, with a walking tour of the new 1,250,000 sq ft Ruskin Square site – home to HMRC – commencing the tour.  

A coach tour followed, highlighting Croydon’s exponential growth through a number of residential and commercial developments starting at No. 5 Sydenham Road and Canterbury House/Criterion Capital which were both completed under the Permitted Development Scheme; Superdrug’s HQ and 10 Sydenham Road, home to Mott McDonald, the largest private occupier in Croydon. 

The tour continued along Wellesley Road where the scale of opportunity is very evident, before heading up towards Croydon College, which, following extensive refurbishment, now offers huge opportunities to over 13,000 students.  

Croydon’s cultural and creative scenes have also been the linchpin in the borough’s approach to regeneration, demonstrated last week when the tour took guests by the newly refurbished Fairfield Halls. The Fairfield masterplan will also see some 421 homes, shops, new open public space and improved pedestrian access come to fruition, cementing the town’s commitment to better local connectivity. And, Croydon was recently awarded the London borough of culture 2023 – a significant milestone in the borough’s recovery, offering investors a huge amount of potential to capitalise on.  

The tour then looped back towards East Croydon, taking in several residential and commercial offerings, including the affordable Pocket Living development, the iconic One Croydon – known locally as the ‘50p building’ – the extensive Morello Quarter on Cherry Orchard Road and The Island by Regency Homes.  

The tour continued through West Croydon – one of the most interesting investment sites in Croydon. With a unique transport interchange that sees the Overground tube, tram, train and bus station all come together – there’s little wonder London Square’s exciting contemporary development of residential apartments and homes call this vibrant corner of Croydon home when it launches next week.   

Not to be forgotten is Croydon’s industrial and logistics economy, based in and around the Purley Way, which is a big focus for Croydon’s economic renewal. Investors were given the opportunity to visit the new Prologis Park site on Beddington Lane, spanning an impressive 220,000 sq ft across six units.  

The market for industrial space has never been greater – fuelled by the growing need for last mile logistics brought on by the growth in e-commerce delivery. Retailers including Amazon, Argos, Fruitful and Tropic skincare are just some of the big names occupying space in the region.  

 The coach brought attendees back towards the town centre, where Vanessa and Richard highlighted more of the town’s rich mix of new and potential developments opportunities from the Queen’s Quarter and Delta Point, through to UK Border Agency occupied Lunar and Apollo House and the iconic Saffron Square development.   

After a quick stop for coffee at popular West Croydon community spot Matthew’s Yard, the group headed on foot along Croydon’s town centre, where Croydon BID CEO Matthew Sims discussed the high street’s need for regeneration and the “lasting legacy” he hoped the London Borough of Culture 2023 would leave on Croydon.  

“I love Croydon” remarked Mr Sims. “The opportunities here are endless. We are open and ready to work with landlords and developers to make it happen”.  

Recently acquired by Secret Cinema founder Fabien Riggall to become an arts and entertainment space, the group passed the now vacant site of the iconic Allders department store, before being invited into the historic Whitgift Almshouses on the corner of George Street. Built in 1596 by Archbishop John Whitgift as a hospital and school, (with permission from Queen Elizabeth I) the building today serves as residential care. The John Whitgift foundation also use land and assets set aside by their founder to generate income that is put back into the community.    

The tour continued back up towards East Croydon station, passing Tide Construction’s Ten Degrees development, the world’s tallest modular building, and their second (still taller!) scheme behind, before concluding for lunch at one of Croydon’s newly refurbished, Grade A office spaces, Corinthian House.   

Croydon has long presented itself as an attractive prospect for investment, thanks to its connectivity to London and the availability of affordable home and office spaces. With the shift in business practices and the desire for a better work life balance since the pandemic, Croydon has never been a more attractive prospect for living and working. 

If you would like to join the next guided investor tour, please get in touch to register your interest at: https://developcroydon.com/events/  

LOGICOR EXPANDS UK MULTI-LET PORTFOLIO WITH LONDON ACQUSITION

October 13th 2022: Logicor, a leading owner and manager of logistics real estate in Europe, has acquired a strategic development site in West Molesey which will form part of its wider development plans in this established, South West London industrial area.

Occupying a prominent corner location on West Molesey Trading Estate, 29 Central Avenue - totalling 1.35-acres - has been purchased with vacant possession from Marchmont Investment Managers and NW1 Partners.

The plot sits adjacent to Signal House, also recently acquired by Logicor, which along with its 1.68-acre site at Armfield Close will be combined to redevelop the total 4-acre site into a new, multi-unit industrial and logistics scheme. Plans are currently being drawn up to create a best-in-class, sustainable development to fulfil the demand for new, high-quality business space to suit occupier requirements in this last-mile logistics location, with a start on site expected in 2023.

Charlie Howard, Logicor’s Managing Director, UK, comments: “As we continue to grow our UK portfolio we have a number of exciting development opportunities across our multi-let, mid-box and big-box schemes, including here at West Molesey. This latest site is part of our company-wide, active asset management strategy to facilitate our customers’ growth objectives, providing the right business space for our whole customer base.”

David Boyle, Director at NW1 Partner, comments: “We are pleased to report another successful outcome with our long-standing partners Marchmont Investment Management, yet again illustrating the ongoing strength of the last mile logistics market in greater London.”

Cameron Fraser, Director at Marchmont, comments: “The opportunity to trade the asset with vacant possession highlights the continued strength of the London urban logistics market and offers Logicor an opportunity to strengthen their foothold within the estate”.

In addition to this combined site, Logicor recently commenced the extensive refurbishment of Unit 3 Central Avenue, its existing 18,000 sq ft detached warehouse in West Molesey which will be available to occupy in Q4 2022.

SHW APPOINTED TO LET CHANCERYGATE & SGN’S NEW 95,000 SQ FT CROYDON URBAN LOGISTICS DEVELOPMENT

SHW and Cushman & Wakefield have been appointed as joint letting agents for Chancerygate and SGN Place’s new 95,000 sq ft, Grade A urban logistics development on Factory Lane in Croydon, South London.

The proposed scheme, on the four-acre former gas works site, will provide 14 units ranging from 1,000 to 14,000 sq ft which will be available on a leasehold basis.

Located on the outskirts of Croydon town centre, the Factory Lane scheme is 10 miles south of central London. Subject to planning approval, work on the proposed development is expected to start in January 2023, ready for occupation in Q4 2023.

Chancerygate’s Development Director Jonathan Lee says: There is very strong demand for high-specification, new-build urban logistics space in the town and the development has been designed to provide best-in-class, last mile facilities with the highest ESG credentials.”

Alex Gale, Partner at SHW, comments: “With neighbouring occupiers including Tesco, Sainsbury’s, Royal Mail and Decathlon, Factory Lane is a well-established and popular industrial location. This new development will provide much needed Grade A, last mile industrial space for the area and we expect a great deal of interest in the properties which are designed to suit a wide range of occupiers.”

Chancerygate is a multi-unit industrial developer and asset manager operating across the UK with more than 3.5 million sq ft of industrial space under construction or ready for development across 32 sites.

SGN Place is a property development subsidiary of SGN, focused on regenerating brownfield land such as gasholders and former industrial sites into prosperous, sustainable residential and commercial developments.

Pluto Finance provides £130m of Low-Cost Development Finance in last 2 months

Pluto Finance closed £130 million of senior development finance in August, at an average margin of 4.1% and an average Loan to Cost of 65%.

For developments located in Kent, Essex, North London and Central London, Pluto concluded four senior development loans in this summer month, ranging from £7m to £51m.  The schemes were a mixture of build-to-sell and build-to-rent.

Justin Faiz, co-founder, and CEO of Pluto Finance, says: “Whilst our team have been busy working across all our lending products, we have been particularly active recently providing Senior Development facilities. At an average margin of 4% for up to 70% LTC, we are now cheaper than the high street banks and able to provide the same, quick turnaround and flexibility that we have historically delivered for our Stretched Development borrowers.”

Backed by some of the world’s largest institutional investors, Pluto Finance provides stretched and senior development loans as well as bridging finance. Pluto Finance is currently funding the development of over 2,000 new homes in the UK.

SHW expands with South East property firm acquisition

SHW has today entered into a definitive merger agreement with South East-based Building Surveying and Architecture firm WSW Consultancy Limited (WSW).  SHW will take over the day-to-day management of WSW, and WSW Consultancy Limited will be rebranded as “Part of SHW LLP.”

Stiles Harold Williams Partnership LLP, trading as SHW, is an independent full-service property real estate advisory business employing c. 200 staff, with eight offices across London and the South East, serving clients across the UK. A wholly owned business with 27 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, Rating, Healthcare & Medical, Roadside, Charities, LPA Receivership, Airports, Leisure and Leasehold Reform.

Established in 1994, WSW is an independent consultancy of Chartered Building Surveyors and Architectural Designers, registered and professional members of the RICS. A successful, award-winning practice, WSW works primarily in the Homes Counties and London in both the private and public sectors, along with a number of national, corporate clients throughout the UK.

Based in Fleet, Hampshire, the company was formed by three founding partners who have worked together in providing quality professional service for over thirty years. Taking a holistic approach to architecture, the firm provides full design and project management services, along with a wider scope of services for its clients.

Russell Markham, Managing Partner at SHW, says: “There is a strong demand from our client base for Architectural and its supporting services. This merger with WSW secures - for our team and our clients - exceptional Architectural experience and resource, along with an alignment of Building Surveying expertise that complement each other perfectly, enabling both firms to extend their property services both regionally and sectorally for existing, valued customers and future clients too.”

“Since our initial discussions with the founders and the wider team we have together, already, explored new business prospects, resulting in confirmed instructions and some other very exciting opportunities and look forward to our future growth together.”

Richard Woods od WSW comments: “WSW Consultancy are delighted to be joining forces with SHW and are excited about the opportunities this will bring.  Having created a successful, award- winning Building Surveying & Architectural Design Practice over the past 28 years, the synergy between both companies was the natural step in strengthening the brand under the SHW banner.  

“We have established a proud history of successfully working with a wide range of high-profile businesses, educational establishments, organisations, retail operations and private clients, and the merging of the two companies allows us to further expand a multi-disciplined approach, providing our expertise to meet and deliver Client projects in a highly effective and professional way.” 

The newly merged company will now commence a 3–6-month transition phase and amalgamation of the businesses, planning for future growth within its team and client base.

SHW BOLSTERS BUILDING CONSULTANCY TEAM

SHW has appointed Ashley Reuby as Senior Chartered Building Surveyor within its Building Consultancy Team.

Based in SHW’s Brighton Office, Ashley will be working alongside Partner Ryan Carson and the wider BCD team, bringing his vast experience in building surveying across all service areas to this expanding team, with a particular focus on contract administration, project management and dilapidations.

Ashley joins from Adur and Worthing Councils, a valued client of SHW, where he worked as a Chartered Building Surveyor for two years. Prior to this, he worked within the commercial private sector for Hollis.

Ryan Carson, Partner and Head of Building Consultancy says: “We are delighted to have Ashley joining our expanding BCD team. His experience both in the private and public sectors will be an asset in supporting our clients across the UK.”

Pluto Finance appoints Harley Allen as Senior Associate

Pluto Finance has appointed Harley Allen as Senior Associate, joining Pluto’s eight-strong credit operations team, working with the firm’s originators on underwriting, deal execution and asset management of development and bridging loans.

Harley joins Pluto Finance after spending three years at LT Land as VP of UK and European Real Estate Financing & Investment where he was responsible for UK financing and Investment across multiple asset classes.

Justin Faiz, CEO of Pluto Finance comments: “I am thrilled that Harley has joined the Pluto team.  Harley will make a fantastic addition to our best-in-class credit operations team, delivering quick turnaround and excellent customer service.”

Harley adds: “I am excited to have joined Pluto Finance at what is the start of its next phase of growth. Pluto Finance has a fantastic proposition which is continuously evolving and improving, and I look forward to growing with the firm.”

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. In 2021, the specialist lender announced a strategic investment partnership with the Universities Superannuation Scheme (USS), the UK’s largest private pension fund, to provide financing to SME’s developers, delivering new housing across the UK.

Bridge secures planning consent for Bridge Point Croydon

Bridge Industrial (“Bridge”), the US-based industrial real estate operating company and investment manager, has achieved planning consent for Bridge Point Croydon

Planning approval has been granted by Croydon Council for a new, modern industrial building totalling 62,000 sq ft to serve the last mile industrial and logistics sector.

Located on Factory Lane, the new development will target a BREEAM Excellent rating. Built to a Net Zero Carbon design, the building will be developed using the most sustainable materials and will include solar thermal and solar panels and LED lighting with EV charging infrastructure, cycle storage and new landscaping to improve biodiversity.

Paul Hanley, Bridge’s London Partner, comments: “At Bridge, we create buildings where people want to work. Bridge Point Croydon will deliver high-quality, modern business space, creating a welcoming working environment for employees in a strategic industrial and logistics location to serve the last mile sector.”

Construction is expected to start on site in Spring 2023, with completion scheduled for Q4 2023. CBRE, Colliers and DTRE have been retained as letting agents for Bridge Point Croydon

Bridge acquired the factory Lane site in August 2021. Following the launch if its UK operations in November 2020, the firm now has six development sites within the M25 totalling more than 734,000 sq ft - in Chadwell Heath, Southall, Barking, Uxbridge, Croydon and Weybridge. Bridge Point Barking, Bridge Point Uxbridge and Bridge Point Southall also achieved planning consent this year.

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

Key Worthing Town Centre office let to HSBC

SHW, on behalf of Adur and Worthing Council, has let Cannon House, a key town centre office block on Chatsworth Road in Worthing, to HSBC.

The major bank will be moving from its existing Farncombe Road administration centre into the newly refurbished, detached, three-storey office building.

The Council bought Cannon House, the former office of the Worthing Herald newspaper, as it moved to accelerate proposals to develop the adjacent Union Place location, fully refurbishing the office block to attract employees and jobs to the area, and in this case to enable HSBC to remain in the Borough.

Part of an ongoing programme to bring new homes, businesses and retail into the town centre as an attractive place to live, work and play, Worthing Borough Council’s Cabinet Member for Regeneration, Cllr Martin McCabe, said: "I’m delighted we have been able to provide an excellent workspace for HSBC and keep them and their staff in the town. It’s a great example of partnership working to support the local economy.
Melanie Bayliss, HSBC’s workspace manager said: “We’re pleased to be moving to a new home in the town centre and to maintain our long-time link with Worthing. Our new office space provides an excellent modern workplace for our colleagues and gives us the flexibility and space we need to continue to serve our customers.”

CBRE worked with SHW to secure the letting.

SHW sells two South East sites on behalf of Marshall Motor Group

SHW has sold two sites housing a former Audi showroom and a repair garage in Bromley and Beckenham on behalf of Marshall Motor Group who have relocated to a new, combined facility in Elmers End.

The Bromley repair garage, totalling 7,644 sq ft, at 2-14 Tylney Road has been sold to Stephen James Automotive Ltd. And the car showroom at 237 Croydon Road in Beckenham has been purchased by an investor who will lease the 10,681 sq ft space to another car sales operator.

David Marcelline, Partner at SHW, says: We are delighted to have concluded the sales to an owner occupier and an investor, both of which will use the existing building and site layout going forward.

“The successful disposals have enabled our valued client Marshall Motor Group to move into its new, combined facility in Elmers End to continue its client service in automotive sales and repair in a one-stop-shop.”

SHW APPOINTS NEW DIRECTOR TO RATING TEAM

Daud Sadiq has joined SHW’s Rating team as Director, based in the firm’s Crawley / Gatwick office.

Joining from Colliers International where he spent seven years as Associate and Director, Daud has over 10 years’ experience as a Rating Surveyor having previously worked for the Valuation Office Agency.

Specialising in the valuation of car showrooms, office, retail and industrial properties, Daud has worked with many landlord and developer clients to mitigate and delete the rates liability on all types of vacant property, including those undergoing development.

Daud comments: “I’m pleased to be joining SHW’s rating team and the wider agency and professional specialists to assist the company’s valued clients in their ratings matters. My initial focus will be on working with landlords to claim back business rates paid on empty properties and those undergoing refurbishment. We have a window of six months to appeal for rebates and there are many substantial sums to be reclaimed across property types.”

Richard Bull, Partner and Head of Professional Services at SHW, says: “We are delighted to welcome Daud to our 200-strong team based in the South East and working across the UK. His wealth of experience, particularly in the reclaiming of rates on empty properties, will be invaluable in making savings for our existing and future clients.”