Joinery firm sets up business on Mill Lane, Croydon

SHW has completed the letting of Unit 2 Mill Lane at Mill Lane Trading Estate in Croydon on behalf of fund clients.

Painted Ltd, has taken the 9,554 sq ft warehouse on a 5-year term. The industrial building also houses first floor offices, with covered loading and onsite parking.

Alex Bond of SHW comments: “I am delighted to have completed this transaction having worked closely with all parties to secure the perfect place for Painted Ltd to be able to grow their company. I hope to work with them again in the future. The transaction highlights the need for economically priced units of this size in the South London market.”

SHW secures strategic London office space for Taylor Woodrow

SHW has secured new office space for Taylor Woodrow in Southwark, London for its strategically placed new workspace.

Taylor Woodrow has signed a new lease on Units 2 and 3 on the ground floor of Latimer’s 90 Blackfriars Road, totalling 2,508 sq ft of EPC ‘A’ rated, self-contained office space with two private entrances.

Known as ‘The Boulevard’, 90 Blackfriars Street is a new, mixed-use development situated in a prominent location with frontage and entrances along both Blackfriars Road and Ufford Street, just to the South of Southward Tube Station, and just 5 minutes’ walk from Waterloo station.

Thomas Tarn, Associate at SHW, says: “Our client had a requirement for c.2,000 sq ft of office space and was looking to be located close to Southwark underground station and its key corporate client, to allow for easy collaboration and regular face-to-face meetings.

“We identified a number of options which were filtered to establish the most suitable properties and the best options were inspected. With Units 2 and 3 at 90 Blackfriars Road coming out on top, particularly in terms of location and quality of space for staff, terms were negotiated and agreed for an agreement for lease, subject to the Landlord undertaking Cat A works.”

In addition, SHW undertook a pre-acquisition survey to identify any issues and ensure these were rectified prior to occupation.

Thomas adds: “We are delighted to have worked closely with Taylor Woodrow to find the best possible space for their team to grow and thrive and look forward to continuing our work with our valued client.”

BLUELEAF CARE HOMES IN ON ARROW POINT, CRAWLEY

Arrow Capital Partners, the specialist investor, developer and manager of real estate in Europe and Asia-Pacific, advised by SHW, has signed a long-term lease with Blueleaf Care, the care home supplies and services provider, for Unit 1 at Arrow Point in Crawley.

Arrow Point is a sustainable development with an EPC Rating of ‘A’ and a BREEAM ‘Very Good’ certification. Developed for Arrow’s Strategic Industrial Real Estate (SIRE) joint venture with Cerberus, the asset includes dedicated parking with associated electric vehicle chargers, self-contained secure yards and photovoltaic panels on the roof, making it one of Crawley’s premium buildings.

The location in the established Manor Royal Business District, adjacent to the Manor Royal and Gatwick Roads, provides excellent connectivity to London, Brighton, Gatwick Airport and the M25 motorway.

Blueleaf Care has taken the entire 65,000 sq ft of warehouse space in Unit 1, leaving the remaining 19,000 sq ft of space in Unit 2 available to let.

Commenting on the letting, Rob Howe, Head of European Real Estate at Arrow Capital Partners, said: “When selecting a site to develop Arrow Point Crawley, one of the reasons we were attracted to Manor Royal Business District was the diversity of occupiers already established in the location. This letting to a care home supplies provider confirms that decision and is reflective of the interest we’ve received from a variety of businesses looking for the sort of modern, sustainable space that Arrow Point provides.”

Nick Frogbrook, CEO of Blueleaf Care, commented: “Arrow Point Crawley has all the features we require to support the growth of our business in the UK. We were looking for a light industrial unit that provided a combination of strong location and flexible space, together with the sustainability credentials key to the culture of our business.”

Arrow Capital Partners was advised on this letting by Knight Frank, DTRE and SHW.

A specialist investor, developer and manager of real estate, Arrow Capital Partners targets equity and debt opportunities, specialising in cross-border transactions where it can use its platform and balance sheet to invest with US and Asia-Pacific investors into Europe, as well as European and US investors into the Asia-Pacific region. Arrow has a team of 60, globally based out of 12 countries.

Charities Act changes

Changes affecting the way Charities have to go about disposing of the property assets have been introduced by the Charities Act 2022 (the Act), which amends the Charities Act 2011. The changes came into effect on 14 June 2023 and all charities need to be aware of how they will be affected and what they need to do when considering selling or letting any property assets.

Charities must comply with certain legal requirements before they dispose of charity land. Disposal can include selling, transferring or leasing charity land. The Act simplifies some of these legal requirements that applied previously.

The changes include widening the category of ‘designated advisers’ who can provide charities with advice on certain disposals. Whereas this could previously only be provided by an RICS qualified Chartered Surveyor, it can now also be provided by a Fellow of the Central Association of Agricultural Valuers or a Member of NAEA Propertymark (the professional membership scheme for estate agents). The advisor can also be a qualified (as above) charity trustee, officer or employee who has experience in the type of property and in the location concerned. However, in each case, the designated advisor has to confirm that they are acting exclusively for the charity and have no conflicts of interest. This can make such advice cheaper and more specific depending on the nature of the property, but depending on the complexity of the disposal, trustees would be well advised to continue to appoint RICS qualified surveyors to prepare the report on a risk management basis. Trustees will continue to have an obligation to select persons reasonably believed to have adequate experience and ability in providing such advice.

The designated advisor’s report is produced to confirm to the Trustees that the terms of the sale are the best for the charity at the time of the sale or transfer. While a valuation is part of that advice, the report also has to make recommendations on how the property should be marketed, whether it could be sold in separate lots to achieve a better result, and whether or not the Charity should undertake improvements or repairs prior to marketing. The report should therefore be commissioned as soon as a decision to sell is made and before any marketing commences. However, the charity is no longer legally obliged to adhere to the designated advisor’s marketing advice, although any departure from their recommendations must be justified and documented. If the advice is to conclude a sale without prior marketing, the report must state the reasons and why, in the advisor’s opinion, this would give a better result.

Other than the disposal of property by way of a lease for less than 7 years (unless for a premium), charities do not need to obtain an order or designated advisor’s report if the disposal is to another charity. However, this exception only applies where the acquiring charity has the same aims and objects as your charity.

As was previously the case, if no report is obtained or it is not sufficient in content, it is possible that a transaction is null and void and the contract unenforceable. This is a complex area of law and charities should check with their solicitor before making any decisions.

Office market amps up at AMP House, Croydon

SHW and BNP Paribas Real Estate are marketing up to c.35,000 sq ft of high-quality refurbished workspace available to let at Schroders Capital’s AMP House, Dingwall Road, Croydon.

AMP House is a landmark Croydon building, comprising approximately 100,000 sq ft of office space, in the core East Croydon office market.  Located on the junction of Dingwall Road and George Street, opposite Box Park, and above national food & beverage operators such as Pret a Manger, Caffe Nero and Nandos with new food and leisure occupiers to be announced soon, the building is ideally positioned for modern office occupiers by East Croydon Station, which provides regular services to London, Gatwick and the South Coast.

Thomas Tarn, Associate at SHW, says: “Being fully let from 2018 to 2023, AMP House has always been a popular offer for a variety of businesses looking to position themselves where their staff want to be. As lease events have occurred, the landlord has taken the opportunity to carry out a comprehensive refurbishment to continue to provide the top-quality office space that businesses demand in this fantastic location.”

As a further testament to the enduring appeal of the building, there have been a number of successful lease renewals throughout the course of this year, with tenants including WT Partnership and Isio. The c. 35,000 sq ft that is due to come back to the landlord will make up the newly available Grade A space.

The refurbished floors will offer a variety of workspace from 861 to 35,622 sq ft and will be available in a range of specifications to include open plan Cat A space and fully fitted and furnished ‘turnkey’ Cat A + solutions. The communal spaces are also undergoing comprehensive upgrades to provide a striking new reception, alongside new WCs with shower facilities. The building also offers bike storage and EV Charging points.

Thomas adds: “The 3rd Floor North, comprising 6,555 sq ft, which is due to PC in November, will boast new linear LED lighting, black window frames, and will be newly redecorated and recarpeted. Following this, a range of sizes will be offered from 861 sq ft to wings of 6,500 sq ft and whole floors of circa 10,000 sq ft. The space will be ready to occupy in Q2 2024.”

For further information, please contact SHW and BNP Paribas Real Estate.

SHW sells Hailsham warehouse to Sussex-based removals and storage firm

SHW, on behalf of private client, has sold Units G4-G5 at Ropemaker Park, South Road, Hailsham, to Britannia Beckwith, a removals and storage service company that specialises in both domestic and business removals.

The family-run company, established for over 90 years, operating across Sussex, has acquired the unit for its own occupation to house its range of removals and storage solutions for the local area.

Ropemaker Park is a purpose-built trade park on Hailsham’s principal industrial estate, with existing occupiers including Howdens, Tesco, KFC, Cablecraft and Marlow Ropes. Located on the A22, the main London to Eastbourne Road, within 2 miles of the A22/A27 junction, the park provides easy access to Brighton and Hastings.

Max Perkins, Surveyor at SHW comments “We were delighted to conclude this sale at Ropemaker Park. With its prime location and modern build, it is the perfect place for Britannia Beckwith to expand its services in the area.”

SHW’s graduates clock up two more APC passes

Following in the footsteps of the four graduates who passed their APC’s earlier this year, SHW’s Kieran Edwards and Matt Morris are celebrating the successful outcomes from sitting their RICS Assessment of Professional Competence at the end of October.

Kieran Edwards joined the firm’s Professional team in June 2021 as a graduate, focussing primarily on lease advisory and rating matters. Now a Surveyor, based in the SHW Crawley/Gatwick office, Kieran is also a member of the RICS Matrics Brighton Committee, responsible for overseeing support groups for graduates and arranging networking events for young surveying professionals.

Matt Morris now also holds the title of Surveyor. Matt joined SHW in 2018 as an apprentice and works within the Development Consultancy and Retail departments. Specialising in agency, valuation and consultancy instructions, Matt is based in SHW’s South London office.

Luke Longley, Associate, supervisor and support for SHW's graduate programme, says: “These passes are very well deserved and reflect the hard work and focus both Kieran and Matt have put into their studies alongside their day jobs. We have a few more graduates sitting their APC over the next month and hope to be able to announce many more successes by the end of the year.”

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.