Newly refurbished warehouse to let in Newhaven

SHW has been instructed by Petchey Holdings to market one of the only available warehouses to let in Newhaven.

Unit 8 Newhaven Industrial Park, offers a purpose built, and newly refurbished, factory/warehouse premises totalling 6,021 sq ft, situated on Beach Road in Newhaven, East Sussex.

Including a two-storey integral office section, with an open plan factory/warehouse space the property has been overclad with LED lighting fitted throughout. Located to the south east of Newhaven town centre, in an established commercial area, access to beach Road is via the A259 south coast road, which in turn links to the A26 (New Road). The A26 provides the main north-south access between Newhaven and the A27 with onward connections to Lewes, Brighton and the national road network.

David Martin, Partner and Head of Sussex Coast at SHW, says: “This unit is of ideal size for a local business or companies in Brighton looking to reduce their overheads. Close to the Newhaven Ferry Terminal and railway station, with the residential area expanding, the space may also suit trade counter use. And with this being the only available industrial space in the area we already have some good interest.”

SHW is the sole letting agent for Unit 8 Newhaven Industrial Park.

SHW appointed to manage The Urban Building, Slough

SHW has been appointed as Commercial Property Manager for The Urban Building, 3-9 Albert Street in Slough.

Recently acquired by a private family office from India, the seven-storey building comprises 97,517 sq ft of multi-let, grade A office space, complete with a new modern café and reception

With flexible sized suites from 1,364 to 13,725 sq ft The Urban Building offers an agile, flexible and collaborative, modern style of workplace, designed to provide a vibrant home to a mixed office community.

The building was conceived with maximum flexibility in mind. Therefore, each of its floors is divisible by three, creating high quality suites for all sizes of business, from as little as 1,364 sq ft for smaller companies, to full floors of 13,725 sq ft for larger occupiers.

Adrian Dack, Partner and Head of Property Management at SHW said: "This is a great opportunity for SHW to be working with the new owner.  Our property management and facilities management teams bring a wealth of experience and since our appointment we have hit the ground running looking at building efficiencies and bench-marking fundamental services.  With its well-presented, bright, and airy reception and neighbouring ground floor café, we look forward to spending time at The Urban Building and working closely with the new owner to support and achieve their ambitions.”

SHW ties up twin letting at Twin Bridges

SHW has simultaneously let Unit 2 at Twin Bridges Business Park in South Croydon, along with an open storage yard to fulfil the business needs of a national removals company.

The clients of Glenny LLP have taken a new lease from Warehut Ltd for the 7,000 sq ft warehouse, along with a lease from Capital Space for 21,5000 sq ft of open storage space within the business park.

Twin Bridges Business Park is located just off the B275 Selsdon Road, which connects to the A235, providing access to Central London 12 miles to the north and the M23/M25 motorways 6 miles to the South. South Croydon and Sanderstead train stations are within a short walking distance.

Charlie McKechnie, Surveyor at SHW, says: “Twin Bridges Business Park provided a great solution for the tenant’s requirements for a high specification warehouse and additional storage yard for vehicle parking. Working closely with all parties, we were able to agree simultaneous leases with each landlord and secure occupation for the tenant within their timescale.”

Glenny advised the tenant. 

J2 Aerospace flies into Swallow Enterprise Park, Hailsham

SHW, on behalf of landlord Westcott Leach, has let Unit B1-B5, Swallow Enterprise Park in Hailsham to J2 Aerospace.

The leading aviation component supplier, has taken the 12,261 sq ft industrial unit, prominently located of the Golden Cross A22, on a new lease at a rent of £11 per sq ft.

This letting of the new workspace follows the pre-let of a larger unit to I-Ride (Martlett Group) earlier this year at Swallow Enterprise Park, taking advantage of the strategic location 1.5 miles west of Hailsham, with the A22 providing a direct link to the M23 at Crawley (26 miles to the north) and Eastbourne (8 miles to the south).

The latest phase of development will provide a total of 105,000 sq ft over seven separate blocks, capable of division from 1,600 sq ft upwards. The terraces have the ability to combine multiple units and are also available on a design and build basis from 10,000 sq ft upwards.

Max Perkins of SHW, letting agents for the scheme, comments: “Following the successful lettings this year, with more units being built I am excited to be able to offer such flexibility of top-quality space to a variety of occupiers in this great location.” 

For further information on Swallow Enterprise Park and the units available please contact Max Perkins at mperkins@shw.co.uk

Planning granted for a 93,000 sq ft urban logistics development in Croydon

Planning has been granted for a 93,000 sq ft, Grade A urban logistics development to be speculatively built on Croydon’s Factory Lane which could create 150 jobs.

A joint venture (JV) between developer Chancerygate and SGN Place, the property development subsidiary of gas distribution company SGN, will deliver a scheme comprising 15 units ranging from 2,000 sq ft to 16,000 sq ft.

Called The Works, units on the four-acre site will be available on a leasehold basis. Construction work is expected to commence in December 2023.

All properties at the development will target minimum EPC rating of A and BREEAM Excellent rating. They will feature electric vehicle charging points along with solar cells which provide green energy on an affordable basis to occupiers.

In addition, the units will be constructed from high-performance building materials to reduce CO2 emissions.

Located on the outskirts of Croydon town centre, the Factory Lane site is 10 miles south of central London and benefits from excellent access to the A23, A232 and M25. Neighbouring occupiers include a Tesco distribution centre, Sainsbury’s, Royal Mail and Decathlon.

Chancerygate development director, Tom Faulkner, said: “We are very pleased to now be able to bring forward The Works in partnership with SGN Place.

“Our development will deliver the first multi-unit urban logistics scheme in Croydon for more than 10 years, meeting the latent demand that there is for this type of accommodation in the area.

“The Works has been designed with sustainability at its heart and will provide a long-term asset for the town, which we anticipate will create more than 150 jobs.

“The development’s excellent strategic location means occupiers will be best placed to serve Croydon, as well as London and the wider South East region.”

SGN Place development manager, Kathleen Hutchinson, added: “This is a great opportunity to redevelop unused brownfield land and turn what was a redundant gas holder site into a first-class industrial scheme”.

Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide.

The company currently has around 2.65m sq ft of urban logistics space under construction or ready for development across 19 sites ranging from Edinburgh to Chichester. Chancerygate offers units to occupiers on both a freehold and leasehold basis.

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

Letting agents appointed for the scheme are SHW and Cushman & Wakefield.

Horley Police Station acquired with development potential

SHW has acquired the Freehold of the former Horley Police Station on behalf of a private client.

Our client already has an existing ownership on the adjoining land, and the next step is to explore town planning opportunities to add value.

Commenting on the purchase, our client said: “Harry Speed had been keeping a close eye on the availability of this site for several years on our behalf and it was his persistence and negotiation skills that enabled us to eventually secure the site at the right price. We look forward to continuing to work with Harry and the SHW team as we explore the future planning use for the site.”

Codex Commits to Royal Leamington Spa

Codex has renewed its commitment to digital video and gaming hotspot, Royal Leamington Spa, signing a lease renewal for a further six years at Boundary Real Estate Partners’ (Boundary) Regent Square House.

The TV, film and video production company, which employs high-performance digital production workflow tools for independent films, Hollywood motion pictures, commercial and TV productions worldwide, has extended its original five-year lease for a further six years at the landmark Regent Square House, prominently situated fronting Regent Street and the Parade in Leamington Spa’s town centre.

The building’s central location set’s its occupiers in a vibrant, mixed-use environment, with access to a range of business, retail and leisure facilities including the Royal Priors Shopping Centre. Centrally located, Leamington Spa is easily accessible by road, rail and air.

Acquired by Boundary in Q3 2021, Regent Square House offers 20,000 sq ft of high-quality office space over three floors above the ground floor retail space. The team has invested further in the building, refurbishing the common parts to add to the attraction of the office space, which provides a large, open layout, with excellent natural light to inspire creativity and teamwork.

Among its occupiers is Pixel Toys which has spent almost a decade pushing the capabilities of mobile and VR gaming. The award-winning company has developed games such Warhammer, Drop Dead and Gunfinger, and chose Regent Square House’s open-plan, contemporary office space to allow their team to easily collaborate across all disciplines, calling it a ‘cool, creative space.’

Charlie Walker, Founding Partner at Boundary says: “Royal Leamington Spa has become one of the UK’s largest digital production and gaming industry hubs, historically starting with Codemasters (now owned by EA) who moved to the outskirts of Leamington as their business grew and are still headquartered here today. More recently, Facebook owner Meta and Sumo Group have taken space in the town centre. 

“What these companies are looking for is quality offices, with large floorplates in the centre of town, which is quite hard to come by, and we are delighted to be able to offer this space at Regent Square House and invest in a place where companies and their staff want to be.”

SHW lets second floor of Newplan House, Epsom

On behalf of clients of Barings Real Estate, SHW has let the second floor of Newplan House at 41 East Street in Epsom.

The fully fitted and furnished Grade A office space is located in a prominent, prime location within the town centre, adjoining the Rainbow Leisure Centre and just a few minutes’ walk from The Ashley Shopping Centre and train station. Boasting a prestigious entrance, raised floors and metal suspended ceilings, the second floor, totalling 6,034 sq ft has 54 workstations.

Mark Skelton, Partner at SHW comments “The landlord speculatively fitted it out the space with high quality meeting rooms, break out/kitchen communal areas, data cabling and furnished ready for any tenant to occupy, making this building stand out.

“This move saved the tenant substantial capital cost on fit out - which often discourages moving - reducing the aggravation of procuring the fit out, along with licensing, and saving time when doing the transaction. The whole process is simplified which is important in a difficult market and helped result in a premium rent being obtained.”

Stag Trade Park, Tunbridge Wells, now fully let

SHW, on behalf of Schroders Capital, has let Unit 6 Stag Trade Park on Longfield Road, Tunbridge to an established trade counter occupier.

The newly refurbished, 2,560 sq ft, end of terrace trade counter/warehouse unit is prominently situated in one of Tunbridge Well’s premier trade parks. Let on a new 15-year lease, the unit includes seven car parking spaces with an EV charging point.

Other occupiers at Stag Trade Park include Johnstone’s Decorating Centre, The Lighting Centre, The Giant, Topps Tiles, Kwik-Fit and Copytech.

James Clement, of SHW, letting agent for Stag Trade Park, says: “We are delighted to have secured this latest letting to an established trade counter operator. The scheme is now fully let.”

SHW completes prime retail let to Magnet in Reigate

SHW, has completed the letting of a prominent Class E retail unit to Magnet in Reigate, on behalf of a private landlord.

Formerly occupied by a bank, the 3,335 sq ft property comprises a wide frontage with period features, making it a prominent building in Reigate High Street. The unit benefits from a large open plan ground floor retail space with ancillary storage/office space and air conditioning throughout.

The property is in the heart of Reigate’s High Street and surrounded by retail and leisure occupiers including Corzo Lounge, Toni&Guy, M&S Simply Food, Crew Clothing, Mountain Warehouse and numerous independent retailers.

Richard Pyne Partner at SHW commented “the interest we had for the property was competitive and delighted that we could finalise terms with an operator such as Magnate and am sure they will be a great fit.”

Reigate town centre benefits from ample parking, including Bancroft car park, Morrisons supermarket and Upper West Street car park. The property is also located a short walk to Reigate station.

Last unit let at Sussex Junction

SHW, on behalf of Abrdn, has secured a new tenant for Unt 1, Sussex Junction, the last remaining unit in this premier, newly-built logistics scheme.

The new warehouse / distribution unit, boasting an EPC A and BREEAM Very Good rating, comprises 46,500 sq ft located on Cowfold Road in Bolney. Units 2 and 3 were previously let to CGG Veritas.

Strategically situated on the A23 / A272 Junction, close to Gatwick Airport, Sussex Junction provides good access to London, the South East and South Coast.

Tim Hardwicke, Partner at SHW, says: “This latest letting, completing the line up at Sussex Junction, demonstrates that if units have a great specification with high ESG credentials, in the right location for storage and distribution users, with the bonus of unrestricted hours of use, developers will build speculatively, and tenants will come.

“With this in mind, we envisage a similar success for the nearby Panattoni Park in Burgess Hill which is currently under construction and offers units from 10,000 sq ft up to 140,000 sq ft.”

SHW and DTRE acted for Abrdn. Graves Jenkins acted for the tenant.

Reserved Matters Planning Secured for First Unit at Greenbox Thirsk

Citivale, the UK specialist logistics developer and operator, has secured Reserved Matters planning approval for the first unit to be built at its Greenbox Thirsk site.

Unit 1 at Greenbox Thirsk will comprise 365,000 sq ft of manufacturing and logistics space with market-leading sustainability credentials, marking the first phase of development which will provide up to 825,000 sq ft across three units in Thirsk, North Yorkshire. Enhanced specifications will include 15m haunch heights, 55m yard depths, 50Kn / m2 floor loading, a mix of ground level and dock loading doors and high-quality office space.

Greenbox Thirsk is the first development for Greenbox, launched earlier this year.  Located in an established distribution and manufacturing hub, less than 5 minutes from both J49 of the A1(M) and the A19 at Thirsk, Greenbox Thirsk provides access to the North East, Teesside and Tyneside. Neighbouring occupiers include Cargill, Inspired Pet Nutrition (IPN), Severfield PLC, Cleveland Steel & Tubes, Wetherby Group and I’Anson.

In line with Greenbox’s ESG commitments, Unit 1 at Greenbox Thirsk will target net-zero carbon in construction, BREEAM Excellent and EPC A ratings. The roofs will be 100% photovoltaic panel ready, 10% of parking spaces will be for electric cars (future-proofed for all spaces), and CAT-A fitted office space is proposed with LED lighting and air-source heat pumps. Bespoke build, to individual occupiers’ specific requirements, can also be accommodated.

James Appleton-Metcalfe, Founder of Citivale, says: “We have been working closely with North Yorkshire Council to bring forward this Grade A space at Greenbox Thirsk. We now have an oven ready site and are in discussions with multiple occupiers, and we will shortly commence works, starting with the access into the site.”

Colliers and Carter Towler are retained as letting agents for Greenbox Thirsk, and more information on the scheme can be found at https://greenbox-thirsk.co.uk

New tenant signs for HQ Building at Watermead Business Park, Leicester

Boundary Real Estate Partners (BREP) has secured a new letting at Granite House, the HQ building at Watermead Business Park, Leicester, marking the largest office letting in the City this year.

The new tenant, who will be relocating within the area, has taken the entire 25,000 sq ft first floor of the newly refurbished HQ building, to support its customer service operation.

Granite House has undergone a substantial transformation following its acquisition by Boundary in December 2021, as part of a wider portfolio in the area.  Over £1million has been invested into the property, delivering a new double height reception with feature staircase, full refurbishment of the welfare facilities and installation of shower facilities, plus other substantial upgrades to improve the EPC rating to B.

Granite House has one of the highest parking provisions provided in the East Midlands. As part of this provision, Boundary has installed 20 EV Charging points, with the infrastructure for 40, far higher than the average across the UK. The team has also been working closely with Choose How You Move Leicester County Council to provide a grant for E-bikes to serve occupiers at Watermead Business Park.

Totalling 50,000 sq ft over two floors, the ground floor of Granite House is also occupied by Global Payments, housing its UK HQ, employing many people in the area. The building is set on a large plot in the established business park which is located just off the A46 and A607 in between Thurmaston and Syston.

Rebecca Gregory of Boundary Real Estate Partners comments: “The team have been working closely with our tenants at Watermead Business Park and wider stakeholders as part of our ongoing repositioning of the park and our plans for the wider area. The high-quality refurbishment of Granite House is part of our strategy to provide ‘best in class’ business space to meet occupier demand in the area, which carry over to our plans for Phase 2 of Watermead Business Park.”

Earlier this year, Boundary submitted plans to develop the land adjacent to Watermead Business Park, across the A406, allocated within the local plan, to provide a high-quality employment park. The proposals for this former gravel sorting plant will bring the disused land back to life, providing further employment for the region.

Mark Tomlinson, Director at FHP who acted on behalf of Landlords BREP at Watermead Business Park, comments: “We have seen a drive towards quality among occupiers with a particular focus on lifestyle and wellbeing alongside the continued focus on energy efficiency, and it is important that the regional office market delivers office buildings to cater for these requirements. 

“The Landlords BREP were quick to recognise the repositioning potential of Granite House to meet occupier demand and we are delighted to have delivered this letting to the new occupier who will have a real standout office space here.”

FHP and CBRE are joint letting agents for Granite House.

City of London Corporation to seek green investment at Expo Real 2023 as part of sustainable development drive

The City of London Corporation will send its first ever delegation to Expo Real in Munich, this October, as part of a strategy to attract new investment into the City, by showcasing the Square Mile’s sustainable development opportunities.

In pursuit of a number of key strategic goals, including a net zero Square Mile by 2040 and securing funding for a range of infrastructure projects, the City Corporation will attend as part of a UK-wide delegation with UK Cities & Partners, sponsored by ‘Opportunity London.’

Expo Real is an international trade fair for real estate and investment, which has been held in Munich every year since 1998. Over three days, the industry meets in one place for the largest trade fair for real estate and investment in Europe and the City Corporation’s delegation will be among some 40,000 attendees, from over 70 countries.

This year will see the introduction of a new theme to the conference that closely aligns with the City’s own sustainable development policies, known as ‘Expo Real Decarb.’ The theme focuses on the decarbonisation of the property portfolio within urban development, through innovative and practical solutions to implement future projects in a climate-neutral manner, as well as climate-optimising existing buildings.

Chairman of the City of London’s Planning and Transport Committee, Shravan Joshi, said:

“The City delegation will be working hard at Real Expo to ensure that London is recognised across the globe as the best place for sustainable real estate and infrastructure investment.

“The built environment is critical in supporting London’s transition to a more sustainable economy and the City Corporation is already well on its way to minimising emissions in this sector. I will be looking forward to sharing how we are doing this at Real Expo.

UK Cities & Partners to showcase UK investment opportunities at EXPO REAL

UK Cities & Partners (UKCAP) have announced their new UK Investment Pavilion showcasing a multi-billion-pound pipeline of opportunities at EXPO REAL 2023.

Widely recognised as Europe’s largest real estate investment driven trade show, the event from 4-6 October in Munich will be a platform for the UK delegation to engage with and be represented alongside leading global cities and investors. With significant numbers of investors and advisors exhibiting at EXPO REAL, previous events have shown demonstrable returns on the relationships built.

The UKCAP Investment Pavilion is the first time that UK City Regions and the private sector will collectively present the size and scale of opportunity across the UK, whilst increasing its strategic influence and visibility at EXPO REAL and delivering a compelling inward investment narrative.

Manchester, London, West Midlands, Newcastle and Bristol & Bath are six of the first UK City Regions to announce their involvement and will be bringing with them a variety of oven-ready investment opportunities to showcase.

The private sector has also partnered with the delegation to facilitate introductions and provide critical advice and expertise, with supporters including Avison Young, Legal and General Investment Management, Aviva Investors, Moore Kingston Smith, Trowers & Hamlins, Shoosmiths and Vectos part of SLR, with more to be announced in the run up to the conference.

During the three-day trade event, UKCAP will deliver a high-impact speaker programme highlighting the best of the UK’s investment propositions, from innovation ecosystems, real assets, net zero, social sustainability and investor-ready large-scale regeneration, transport and infrastructure projects. A key aim is to curate and coordinate meetings between project and city leads with investors to ensure maximum value is achieved during the week.

With the support of the UK Government, Lord Johnson, Minister for Investment, Department for Business and Trade said: “Real estate is the bedrock of the UK economy, and it plays a huge part in encouraging investment so we can drive growth and job creation throughout the UK.

"I'm very pleased to be supporting the UK Cities & Partners Pavilion at EXPO REAL, which will play a key part in showcasing the very best of what the UK has to offer for investors alongside representatives from the UK City Regions and our partners in the private sector.

Bill Hughes, Global Head of Real Assets, Legal and General Investment Management said: “It’s critical that institutional investors’ capital is directed in supporting growth across the UK in a sustainable and meaningful way, and that’s why we’re excited to be part of EXPO REAL.”

Sheona Southern, Managing Director at Marketing Manchester, Greater Manchester’s national and international promotional agency, said: “Manchester is thrilled to be attending EXPO REAL for the first time with the UK Cities & Partners group. As Europe’s largest real estate investment and transaction-driven expo, EXPO REAL will open the doors for collaboration with other UK Cities and our European counterparts, strengthening relationships, sharing ideas, and promoting why Greater Manchester is a leading region for investment.

“This year will be the largest UK showcase at EXPO REAL to date and with newly devolved powers and a strong vision for the future, 2023 also marks a crucial turning point for our city-region, so having a prominent place on the UKCAP Investment Pavilion will position Manchester as a leader in placemaking across Europe and shine the spotlight on exciting development opportunities our public and private sector partners have in the works. Manchester’s presence will draw global attention to our ambitions for innovation, our work towards net zero and the large-scale projects that will transform not only the future of Greater Manchester but the future of the UK.”

Neil Rami, Chief Executive of the West Midlands Growth Company, said: “The West Midlands has a proud history of innovation. Now, the region’s status as the UK’s fastest growing technology cluster is driving a revolution in innovation-led development, with internationally significant schemes like the Birmingham Knowledge Quarter, Phase one of Arden Cross and Wolverhampton’s Green Innovation Corridor leading the charge. We’re excited to showcase the strength of that offering at EXPO REAL, armed with a small number of highly valuable and mature investment opportunities that demonstrate the breadth of the region’s talent and ambition.”

Laura Citron, CEO of London & Partners, said: "London is one of the leading cities globally for attracting sustainable investment and we are determined to maintain this position through the attraction of long-term capital in priority sectors and opportunity sites by participating at EXPO REAL.

“This event plays an important role in positioning London as a national and international hub, recognising the importance of the built environment to the strength of the wider economy.

“We are ready to engage with the international investor community at EXPO REAL, fostering meaningful conversations and driving tangible outcomes for London's future success."

Jason Sibthorpe, EMEA President, Avison Young said: “EXPO REAL provides Avison Young with a platform to engage with international investor clients, as well as public and private partners to strengthen cross-border relationships. Being part of the UK Cities & Partners pavilion gives us an opportunity to put a spotlight onto our UK expertise, while showcasing our global capabilities to deliver exceptional service and develop leading-edge best practice for multi-regional clients. Together, we can seize international opportunities, collaboratively driving growth and success for our clients and communities in an ever-evolving global landscape.”

Jennifer Hartley, Director of Invest Newcastle, said: “We are delighted to be attending EXPO Real in Munich this October as part of the UK Cities & Partners delegation. The event provides a unique opportunity for us to present Newcastle’s distinctive investment proposition to European investors – a proposition that is rooted in innovation that drives inclusion.

“It’s an incredibly exciting time for us to be promoting our city on the international stage, with a number of ambitious development sites beginning to take shape and a clear strategy around people-centered placemaking that our partners across the public and private sector are committed to delivering.”

Ben Sanderson, Managing Director, Real Estate at Aviva Investors, added: “As one of the largest investors in UK real estate, we are acutely aware of the wealth of opportunities that exist across different sectors and geographies up and down the country, as well as the long-term value these assets can have for investment portfolios and the benefits to communities in which they are located. It is hugely important that investment capital is channelled into activities that not only support these investment objectives, but can also contribute to long-term sustainability ambitions and the transition towards a low carbon future. We are therefore pleased to be supporting the UK Cities & Partners pavilion at EXPO REAL, and look forward to helping drive conversations and collaborative action through our activities at this year’s event and beyond.”

Katharine Glass, Director, White Label Creative, the organisation behind UKCAP and supporting delegation said: “We believe that EXPO REAL is a critical place to be for the UK to unlock and develop important investment partnerships and to ensure that the UK is a key part of an international dialogue as our leaders from the public and private sectors look to set us on a better, more sustainable path for the future.”

For more information on how to get involved in the UK Pavilion at EXPO REAL please visit the website: https://ukcitiesinvestment.co.uk/

South East Office Market occupiers continue to relocate in the quest to improve office space

Take-up has cooled slightly in 2023 after a dramatic improvement in 2022 following several large transactions. However most key locations have a number of transactions brewing as many occupiers continue to relocate in their quest to improve the quality of their office space, according to SHW’s South East Office Focus Q3 2023.

Tim Hardwicke, a Partner at SHW and Head of Agency, comments: “As companies continue to work on providing staff with the best working environments they can afford, relocations have mainly been driven by changing size requirements, and often acted on when convenient lease events arise.  There have also been a number of notable deals as a result of companies expanding or relocating as office attendance increases, with the new norm being back up to a minimum of 3 or 4 days per week in the office, and in many cases back to pre-pandemic occupancy levels.”

ESG continues to be a serious consideration for both landlords and tenants, with occupiers prepared to pay higher rents for top quality and wanting to benefit from the lower running costs that a modern, green building will offer.

In Croydon, availability has increased marginally and currently stands at 563,000 sq ft. Although rents remain at £36 per sq ft, quoting rents are reaching £40 per sq ft and take up has already almost doubled the whole 2022 figure at 26,585 sq ft let so far this year. Vacancy rate remains quite high at 11.9%, with a logged demand of 410,000 sq ft, schemes such as Bernard Weatherall House, offering up to 58,000 sq ft of BREEAM Excellent space will go some way to filling the gap for high-quality space.

In Crawley and Gatwick, take up is relatively healthy, up already on 2021 figures to 83,000 sq ft (57,500 sq ft for whole of 2021), but with a little way to go to reach the 2022 take up which totalled 203,000 sq ft. Rental levels have increased slightly to £28 per sq ft achieved in the first half of the year and in the last week have hit £36 per sq ft with the highest quoting rent at £38 per sq ft. Availability is about level with logged demand at 430,000/440,000 sq ft. At Park House in Crawley, 48,000 sq ft of the total 63,000 sq ft is now available to let.

Brighton & Hove has this year seen rental levels rise to £36 per sq ft, up from around £32.50 per sq ft where they have sat for the last three years. However, take up so far this year is relatively low at 37,500 sq ft, so far, but further deals are expected which should see the £40 per sq ft barrier smashed. Brighton take up in 2022 was a very healthy 220,000 sq ft, which cut availability significantly.

SHW’s South East Office Focus provide analysis on further regions including Redhill, Eastbourne, Horsham, Worthing and Chichester, a copy of which is available upon request.

Knights and NatWest commit to Brighton at Edward Street Quarter

SHW, on behalf of Socius and Patron Capital, has secured two new tenants in the office element of Edward Street Quarter, the new mixed-use development in Brighton.

NatWest Group has taken 2,700 sq ft of office space on a new 10-year lease and legal and professional services group Knights has also signed a 10-year lease for 7,500 sq ft. They join Octopus Energy who took 82,000 sq ft across three buildings earlier this year.

The scheme’s 110,000 sq ft of workspace has just reached completion and is now 90% let. Located in the beating heart of Brighton’s creative and commercial centre, Edward Street Quarter is delivering a new community space for the area. In addition to the office element, there is 20,000 sq ft of food, beverage, retail and leisure units, 168 new residential homes and three public spaces.

James Bryant, Director of SHW, retained letting agents for Edward Street Quarter, says: “We are delighted to have secured these two new lettings, taking the office space to 90% let. Socius and Patron Capital have delivered a marketing-leading new development here in Brighton, achieving the highest possible benchmarks for sustainability and wellbeing, supporting agile working and creating a vibrant community space for all.”

Knights are set to move to Edward Street Quarter in September 2023, with NatWest following towards the end of this year.

Cushman & Wakefield is joint letting agent for the office space at Edward Street Quarter. SHW is also letting agent for the Retail and Leisure space.

Blue Coast Capital Secures Planning Approval for Pulse London

Blue Coast Capital has secured planning approval for a high specification, detached, last-mile logistics warehouse in Park Royal and has appointed CBRE as letting agents for the new scheme.

The new development, which will be known as Pulse London, will offer 92,031 sq ft of high bay warehouse / industrial space, with three-storey offices and the potential for mezzanine floors offering 77,500 to 232,500 sq ft of additional warehouse space on a secure self-contained site.

To be built on the site of the former West World office building, adjacent to Hanger Lane, Pulse London is strategically located to the West of Park Royal, London’s primary industrial area. With immediate access onto West Gate, the site is easily linked to the A405 (North Circular) and the A40. Hanger Lane tube station is within walking distance.

Park Royal is a prime business location serving central London, neighbouring occupiers include the Selco Builders merchants, Wickes, Halfords, The Kantar office building, and Big Yellow self-storage.

John Stacey, Blue Coast Capital’s Managing Director – UK Real Estate, comments: “Pulse London will provide best-in-class logistics accommodation in a strategic central London location. The building has been carefully planned and designed with a focus on ESG and will target both a BREEAM Outstanding and EPC A rating. I believe that our design approach will maximise appeal for a range of potential occupiers at a time when demand for well-located, highly sustainable buildings is rapidly increasing.”

Work on the site has now commenced, with Squibb Demolition instructed to begin the strip out of the existing building. The structure will then be disassembled with a significant proportion of the existing building material either recycled or used within the new development’s construction. Pulse London will provide B2/B8 warehouse space with 18m clear internal heights, with associated car, HGV and cycle parking.

Pulse London will be available to occupy from Q4 2024.

Citivale Appoints New Development Director

Citivale, the UK specialist logistics developer and operator, has appointed Alex Reynolds as Development Director.

The development and strategic land specialist will be leading Greenbox - the firm’s JV with Partners Group - focused on speculative logistics developments across the UK.

Prior to Citivale, Alex spent the last three years at Tritax Symmetry as lead Development Director on their largest flagship logistics scheme, the 9 million sq ft, 450-acre Hinckley National Rail Freight Interchange.

Having initially started his career in architecture, Alex went on to qualify as a chartered surveyor while at CBRE. He then subsequently held positions at Advantage West Midlands regenerating brownfield land sites; spent seven years at specialist industrial and logistics REIT, SEGRO Plc, and was head of commercial property at FTSE100 Severn Trent Plc. 

James Appleton-Metcalfe, the Founder of Citivale, comments: " It’s great to have someone of Alex’s experience and calibre on board to drive forward our growth plans under the Greenbox JV and across our wider portfolio.  Over his career, Alex has worked in both the public and private sector, acting as consultant, developer, as well as landowner, and therefore brings a well-balanced and focused view on how best to deliver commercial development.  His expertise, especially in industrial and logistics, along with his extensive involvement in key UK sites, makes him an invaluable addition."

Alex adds: “I am delighted to be joining Citivale at this pivotal time and see the Greenbox venture as a really exciting opportunity for us to supply best-in-class industrial and logistics development with outstanding ESG credentials to occupiers who increasingly see this as essential.”

Greenbox Thirsk in North Yorkshire is the first development for Greenbox.  Launched earlier this year, Greenbox Thirsk offers 825,000 square feet of space dedicated to manufacturing and logistics across three new planned units and demonstrates the JV Partnership's unwavering commitment to exceptional sustainability practices, establishing a new benchmark in the industry. 

SHW collaborates with valuation platform Valos

SHW is pleased to announce its collaboration with Valos to use its cutting-edge valuation automation platform that provides enhanced and streamlined data gathering with automated valuation template creation.

Howard Cox, Head of Valuation at SHW, says: “We are delighted to have signed up to the platform and to be working with Valos. Its early days but we can already see improvements in the creation of our reports as well as significant efficiencies on the background research. This frees up our valuers time to allow them to focus on getting the valuations right and providing the best possible service to our clients.”

Richard Bull, Head of Professional at SHW, adds: “We have been really impressed with the Valos platform so far and look forward to continuing to improve and evolve our valuation offering with them going forward. This is just part of our drive to continue modernising our processes throughout the company to ensure we are making use of the best technology to benefit our clients.”

Alex Kountourides, Co-Founder and CEO of Valos, says: “We are delighted to be working with SHW, who brilliantly showcases the valuation industry's commitment to improving current processes through the incorporation of technology, for the betterment of both clients and employees.”