Canmoor extends its support for Cambridge City Football Club

This year, Cambridge City Football Club recognised the need for Dugouts on its 3G pitch, as well as the use of a VEO Camera to assist with the development of its players. The players were set a challenge of approaching local businesses to sponsor them, with a target of £30 each.

Alice Dewey, General Manager of Cambridge City FC said: “The boys responded well, with on excelling and gaining 10 sponsors and another managing to secure Canmoor – the developer of the adjoining Accelerator Park – to sponsor the dugouts in their entirety!”

Having already supported Cambridge City FC with the sponsorship of the away shirts, Canmoor was only too willing to extend its support to the local club. Sam Walker, Director of Canmoor said: “We are delighted to support Cambridge City FC and their provision of grassroots football through their youth/community football programme, so sponsoring the Dugouts on the 3G pitch was an easy decision. We look forward to seeing the Club thriving now they have a new home.”

Canmoor has now also committed to sponsoring the club’s away shirts for the next season.

Alice added: “A hug thanks to Canmoor/Accelerator Park for gracefully sponsoring the Dugouts for the 3G. Canmoor and its partner Tristan Capital wished for a local charity to benefit from some of the sponsorship too, which is is SSYI) Shelford Stepleford Sawston Youth Initiative) was chosen to be advertised.”

Zac Britton, Manager of SSYI said: "Our young people are absolutely loving using the new 3G Pitch at Cambridge City Stadium, we are so grateful for the opportunity to have our charity represented and on display in the dugout, helping to raise awareness of the work that we do in the community!"

Phase 1 of Accelerator Park (formerly known as South Cambridge Business Park) comprises a modern campus of 13 highly specified units built in 2018/19, suitable for a variety of R&D and production uses, with Echion Technologies now occupying five adjacent units and Pulpex in the largest unit of 20,000 sq ft. Other occupiers in the ownership include Biocair and Cambridge University Hospital NHS.

Canmoor and Tristan Capital Partners recently secured planning consent from South Cambridgeshire District Council for the second phase of development at Accelerator Park in Sawston. Which will provide three, GMP ready, R&D / life sciences buildings, totalling 86,000 sq ft, ranging from 23,000 to 35,000 sq ft. The new, high-tech buildings will provide warehouse space with 10m eaves height, along with high percentage Cat A offices on ground and first floors, with ample car parking spaces and 136 total cycle spaces.

With ESG high on the agenda, the development will target sustainability credentials including BREEAM ‘Excellent’ and an EPC A rating, with EV charging, PV panels, enhanced site-wide biodiversity, zero waste to landfill and a rich, landscaped environment for occupiers to enjoy. Community benefits also include an onsite café, opening in Q4 24, a private gym and a regular food truck on site.

Alice adds: “A big thank you goes out also to all the individuals and other fabulous businesses who have helped sponsor the VEO Camera. The VEO has an ongoing monthly subscription, therefore if any other businesses would like to come forward and get involved and have their business details promoted feel free to contact us.”

SHW appointed as Commercial Property Manager for The Portland Building

SHW has been appointed by MRP as Commercial Property Manager for The Portland Building, the new 30,000 sq ft, Grade A office development located in the heart of Brighton.

Recently completed, the best in class, sustainable office building is already 50% let to FTSE 250 company Close Brothers, who have moved into the first floor, and leading law firm DMH Stallard, who has taken 6,200 sq ft on the ground.

Situated on the corner of Church Street and Portland Street, the fully electric office has exemplary sustainability and technological features. The operationally net zero carbon scheme has achieved an EPC ‘A’, BREEAM Excellent and a WiredScore Gold rating, making it one of Brighton’s most attractive new offices for environmentally conscious businesses. It features photovoltaic roof panels, secure cycle spaces accessed via a dedicated cycle ramp, shower facilities, a private courtyard and a communal roof terrace offering panoramic sea views.

Robin Howland, Partner and Head of Commercial Property Management at SHW, says: “As a firm, we have been involved with this best-in-class development from the outset, with our agency team retained as letting agents, and we are now delighted to extend this appointment to the property management of the scheme.  We have already welcomed Close Brothers, our first occupier to the building and are looking forward to DMH Stallard moving in during the summer.”

Ben MacPhee, Development Manager at MRP, says: “We are delighted to welcome SHW on board as Commercial Property Manager at The Portland Building. Their knowledge and experience of the building and of the area will be invaluable in the day to day running of the scheme and their track record of occupier relations will be an asset to our tenants.”

Partners Group and Citivale underway with their ESG-led industrial development, Greenbox Darlington

Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, and Citivale, a UK specialist logistics developer and operator, are progressing at pace with the construction of Greenbox Darlington, with established real estate agencies Savills and HTA Real Estate leading on the leasing efforts.

Greenbox Darlington, an ESG-led development will provide three state-of-the-art, Grade A industrial and warehouse units spanning 402,150 sq ft (37,361 sq m) on a 24-acre site, delivered ready for occupation in December 2024.

The three units offer market leading specifications, including 12.5 - 15m haunch heights, 50m yard depths, 50Kn / sq m floor loading, 3.5MVA power capacity, a mix of ground level and dock loading doors and high-quality office space.

The development is being delivered under the Greenbox brand, which combines Partners Group’s extensive, international experience in the industrial and supply chain sectors with Citivale’s deep UK logistics expertise to deliver sustainable assets in strategic locations.

In line with Greenbox’s ESG commitments, Greenbox Darlington will target an EPC ‘A’ and BREEAM ‘Excellent’ rating, and will also aim to achieve units that are Net Carbon Zero in Operation, setting new standards in eco-friendly development.

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 units, built to individual occupiers’ specific requirements, can also be accommodated.

Greenbox Darlington is located close to the A66, close to three junctions on the A1(M) and offers unparalleled last-mile access to the major urban hubs of the North East, as well as key transport links including Teesport, Hartlepool Port, Port of Sunderland and Port of Tyne and Teeside International Airport. The area’s industrial and manufacturing prowess is exemplified by local giants such as British Steel, Cummins Engines, and Nobia (Magnet Kitchens), with e-commerce giants Amazon also situated adjacent to the site.

Construction of all three units is well advanced and is on schedule for completion in December 2024. Winvic, the UK’s leading industrial and Net Zero specialist in the sector is the main contractor for the scheme.  An onsite camera streams live progress of the build, and can be accessed by visiting www.greenbox-darlington.co.uk, where there is also more information on Greenbox Darlington and its commitment to sustainable logistics development for the North East.

Agents from across the region were recently invited to site to see the progress for themselves and were briefed on the scheme by Alex Reynolds, Citivale’s Development Director, saying: “We are thrilled to have launched Greenbox Darlington and be progressing with the build so well. This strategic and visible location is perfect for nationwide distribution as well as last-mile delivery.  We’re providing top-tier, sustainable space in a market that desperately needs it. Partnering with Winvic for construction and Savills and HTA Real Estate for leasing ensures we’re set up for success.”

Richard Scott, Savills’ Director of North East Industrial & Logistics, echoes this sentiment: “Savills are delighted to have been appointed as joint agents on this best in class scheme. Speculative development has been scarce in the North East recently and we look forward to working with Citivale and Partners Group to deliver occupiers.”

Nick Atkinson, Director of HTA Real Estate, adds: “Darlington and Tees Valley is desperately in need of new high specification industrial development to compete with other regions and attract high quality employment to the North East. HTA Real Estate is looking forward to working with these potential occupiers as joint agent on this exciting development.”

Greenbox Darlington follows on from the platform’s debut acquisition, Greenbox Thirsk (www.greenbox-thirsk.co.uk); a development in North Yorkshire  with outline consent for the whole, proposing three new industrial / warehouse units delivering to the same sustainability standards and totalling 825,000 sq ft (76,645 sq m). 

Vengrove Expands into Germany

Real Estate Investment Manager Vengrove has taken the first step in its pan-European expansion, with the opening of its first permanent European office, located in Munich, Germany. The office will be headed by Korbinian Kirchner, who joins as Partner & Head of Germany.

Korbinian is a highly experienced leader with an excellent track record in the German investment market with previous roles as a Director at CapitaLand, as well as Senior Vice President at Valor Real Estate Partners.

Vengrove’s initial primary focus in Germany will be industrial and logistics, with plans to expand its other existing operationally-driven real estate investment strategies in the coming years. 

Germany was the preferred first location given its long-held position as Europe’s largest economy and the maturity of the real estate investment market, but also the recent lowering of the barriers to entry and re-pricing of assets as a result of the wider Eurozone slowdown, along with more acute local economic factors. Coupled with this is the prior German experience of the Vengrove investment team, led by Partner & Head of Investment, Will Hunting.   

Vengrove's vision for its growth in Europe is to build a fully-integrated operator with local teams in each European jurisdiction, which is a differentiated approach to many Pan-European managers, which adopt an allocator model of working with local operating partners. All acquisitions, asset management and development will be carried out by the local team, with the London office taking responsibility for middle and back office.

Ross Taylor, CEO, comments: “It's an exciting time for the business as we enter the European market for the first time since being founded in 2013. Having experienced how hard it is to build a vertically-integrated investment manager in the UK, we don't underestimate the challenge of opening our first office in Germany, but we are looking forward to it. We are really pleased to welcome Korbinian as a Partner & Head of Germany who will be responsible for the German business and lead on our value-add industrial and logistics strategy.”

Korbinian adds: “I am delighted to join Vengrove as I wanted to be part of an organisation that was proactively trying to grow its footprint and is willing to invest the time and the resources to do so. Having experienced a meaningful correction across Europe over the last couple of years, the market now enters the next phase offering untapped potential across a range of German markets.”

Bridge Industrial Launches Bridge Point Enterprise East

Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, has today announced the completion of Bridge Point Enterprise East, the firm's largest UK development to date. DTRE, Glenny and Savills have been appointed to bring this prime, last-mile distribution, logistics and trade development to the market.

Bridge Point Enterprise East offers 343,789 sq ft of best-in-class industrial accommodation with units ranging from 8,618 to 66,862 sq ft. Delivering remarkable specification, the Class A development has been designed with a sustainable future in mind, incorporating the highest ESG credentials: Net Zero Carbon in operation, BREEAM Excellent and EPC 'A+' which includes PV coverage, EV charging points, air source heat pumps, cycle parking, and exceptional thermal performance.

Located on Selinas Lane, Chadwell Heath, opportunely positioned between the A12 and A13 - the two principal arterial roads of East London – Bridge Point Enterprise East provides convenient connectivity into Central London and beyond. Situated in East London's thriving industrial heartland, the distribution, logistics and trade development is well placed to access a substantial employment hub, supporting immediate labour requirements and future business growth.

Mike Best, Partner, UK, Bridge Industrial, said: "This is another significant milestone in our UK development pipeline. We are thrilled to bring to market our largest last mile facility to date, delivering on our commitment to supply state-of-the-art, sustainable, and futureproofed real estate, that continues to drive economic growth and job creation in the local community."

Leigh Robinson, VP, UK Investments at Bridge Industrial, commented: "We are delighted to appoint DTRE, Glenny and Savills as letting agents to bring forward our flagship development in the Southeast, which offers unit flexibility to accommodate a wide range of occupiers. Capitalising on its connectivity to the A12 and the new Elizabeth Line station at Chadwell Heath, the scheme is well placed to capture a broad user base.”

“Working alongside the London Borough of Barking and Dagenham, Bridge Point Enterprise East is a key site within the local masterplan. Through delivery of the Enterprise Zone, we are honoured to be a frontrunner in revitalizing the local area”, added Robinson.

Bridge Point Enterprise East is available for immediate occupation.

Following its UK inception in 2020, Bridge has amassed and developed a portfolio of in-fill industrial estates within established M25 markets. Bridge remains focused on adding to its existing quantum within these core geographies whilst also expanding its footprint into broader Southeast and Northwest markets. 

OfficeRnD Partners with technologywithin to Provide Enhanced Flexible Workspace Solutions

technologywithin, a specialist in flexible workspace technology, announced today a strategic partnership with OfficeRnD, a leading flex space management and workspace engagement software solutions provider. Currently, the OfficeRnD workspace management platform empowers office operators to streamline their operations, from automating billing and payments to enhancing member experience and making data-driven decisions.      

The new integration will allow flexible and coworking workspace operators to seamlessly manage their connectivity and WiFi service infrastructure directly through the OfficeRnD platform utilising technologywithin’s twiindata solution – an industry leading internet bandwidth management product trusted in over 600 locations in the UK and Europe.

This collaboration offers flexible and coworking office operators worldwide to enhance their revenue streams by delivering secure and reliable WiFi and internet services to all their clients. Operators can easily set up new accounts, create and revoke user access and adjust bandwidth - all with just a few clicks.

“twiindata stands out in the flex space market for its ability to empower front-of-house teams to effortlessly manage secure internet performance and connectivity, eliminating the need for costly and time-consuming engineering resources” said Jon Seal, Managing Director of technologywithin. “The partnership with OfficeRnD, makes the process even easier for operators enabling this through the existing OfficeRnD interface. Our vision is to break down the barriers of technical integration within the flex space sector, which means that we will both continue to broaden our portfolio of in-house developed products and build native integrations with technology partners to enhance end user experience for our customers. We’re incredibly excited about the potential of this partnership which allows the flex space market to select top-tier solutions that work together in harmony.”

“This partnership is a significant milestone for the entire flex space industry,” said Miro Miroslavov, CEO of OfficeRnD. "As the demand for flexible spaces continues to increase, flex space operators need to focus on operational efficiency. We are deeply committed to our clients' success and we recognised that to better serve our mission and reach more businesses, we needed to partner with a leading flex space connectivity provider like technologywithin. With their proven track record in delivering secure and high-performing internet and WiFi solutions to operators across Europe, we’re excited to leverage their expertise to build the best solution possible for our customers."

Long-term Life Science Investment Partner Announced for Norwich Research Park

Norwich Research Park is delighted to announce a major new investment partnership with real estate investment manager, Vengrove, to construct new laboratory and office accommodation at the internationally renowned research park, a top-tier global research and innovation campus.

Norwich Research Park hosts a community of more than 30,000 members. Underpinning this thriving ecosystem are six internationally renowned institutions, all within close proximity, creating an unparalleled environment for collaboration and innovation.

Within walking distance are the Earlham Institute, John Innes Centre, Quadram Institute Bioscience and The Sainsbury Laboratory, four of the UK's most prestigious bioscience research institutes in the UK.

Also on campus is the University of East Anglia (UEA), a UK top 20 university hailed for delivering high quality, high impact research, and the Norfolk and Norwich University Hospital, a teaching hospital undertaking high value research that seeks to improve patient care and outcomes worldwide.

This cluster of world-class facilities and expertise on a single, integrated, site means Norwich Research Park’s offer is both compelling and unique, making it an appealing proposition for prospective tenants and collaborators from around the globe.

Driving growth and innovation

Over the past two years, UK Research and Innovation (UKRI), the John Innes Foundation (JIF) and UEA (the Norwich Research Park landowners) along with members and the Board of Anglia Innovation Partnership LLP (Norwich Research Park's campus management company) have actively sought the ideal partner to spearhead an ambitious growth agenda.

This new investment partnership will cater to the evolving needs of both current and prospective tenants, fostering the conversion of research breakthroughs into successful ventures across key market sectors, including:

• Agribiotech

• Food biotech

• Industrial biotech

• MedTech

With a clear ambition to connect industry, startups and high-growth companies with Norwich Research Park's world-class research expertise and facilities, Vengrove's partnership is set to secure the research park’s position as the premier location for research and innovation, both in the UK and on the international stage.

Bolstering the UK’s long-term bioscience prowess

As one of five research and innovation campuses supported by the UKRI Biotechnology and Biological Sciences Research Council (BBSRC), Norwich Research Park also benefits from BBSRC's strategic investments in the Earlham Institute, John Innes Centre and Quadram Institute Bioscience.

Totalling £163.9 million through to 2028, this funding aims to bolster the UK’s national research capabilities in key areas such as crop resilience, food safety and security, sustainable agriculture, nutrition and health.

Looking ahead, UKRI has also committed to a significant £317 million investment in Norwich Research Park to establish a pioneering plant and microbial research hub by 2030. This venture, backed by UKRI's infrastructure fund, promises to revolutionise JIC and TSL’s existing capacity and capability, ensuring the long-term success of UK bioscience.

Voices of support

Professor Anne Ferguson-Smith, BBSRC Executive Chair, said: “As well as marking a crucial phase in Norwich Research Park’s ambitious growth plans, this exciting new partnership represents a significant milestone for BBSRC in bolstering the UK’s bioscience research and innovation capabilities. This deal underscores the vital contributions of our strategically supported institutes and research and innovation campuses to the UK's economic growth through bioscience innovation.”

Professor Nick Talbot FRS, Executive Director of The Sainsbury Laboratory, said: “We are very excited by the new partnership being embarked on between Norwich Research Park and Vengrove Real Estate Management. It is great to see the park developing as a vibrant centre for innovation, capitalising on the amazing discovery science going on in each of the partner institutions. At The Sainsbury Laboratory we are absolutely committed to translating our science into innovative biotechnology applications, for agriculture, healthcare and sustainable industries.  Norwich Research Park can be world-leading in these areas and this investment clearly demonstrates that potential.”

Professor David Maguire, Vice-Chancellor of the University of East Anglia, said: “This is a really exciting partnership that will aid the expansion of Norwich Research Park at a crucial time when growth and innovation have never been more important.  This is a very positive development to take forward the research park into a new era and I warmly welcome it.

“We very much take a long-term view across our portfolios which means our clients get our full commitment and a stable environment in which to work. Norwich Research Park is undoubtedly world-class in its fields of science and now, with the support of Roz and the team and Board at Anglia Innovation Partnership, we are going to build world-class facilities that will attract further exciting high growth companies to the campus.”

From bench to boardroom

Andrew McLean, Partner and Head of Development at Vengrove, added: “We are very excited to be embarking on this new partnership with the research community at Norwich Research Park. With the potential to deliver 75,000 sqm of market-leading accommodation, we are looking forward to supporting the brilliant science that takes place by providing facilities that will help the transition from bench to boardroom and playing our part to unlock positive economic and social impact for the regional economy and tackling the big global challenges.”

From vision to reality

Roz Bird, CEO of Anglia Innovation Partnership, said: “This is a really significant milestone for the research campus. It will enable us to activate existing planning consent and supply new, flexible laboratory and office accommodation to meet market demand.

“With the park full of exciting high-growth companies, the time is right to create new accommodation that will be needed to meet the demands of growing companies and help attract and retain companies that want to benefit from being located at Norwich Research Park.

With national asset status in engineering biology, and now with access to the necessary real estate investment, Norwich Research Park’s growth trajectory is ensured.

Business Rates: Government Autumn 2024 Budget - Retail, Hospitality and Leisure Scheme

The importance of reviewing your business rate accounts prior to April 2025 cannot be understated.

The Transforming Business Rates Discussion Paper published on 30 October 2024 indicates the Government’s intention to effectively phase out the Retail, Hospitality and Leisure (RHL) Relief Scheme in due course, which has otherwise been continued year on year since Covid.

During the Autumn Budget, the Government announced the RHL scheme has been extended for April 2025-26, however, relief for eligible occupiers under the RHL scheme will see relief reduce from 75% to 40%, with the cash cap remaining at £110,000 per business.

This is seen by the Government as an interim measure, as from April 2026-27, the Government’s intention is to introduce permanently lower rates multipliers for retail, hospitality and leisure properties with a Rateable Value of £500,000 or under.

The Government’s proposal is to fund this by introducing permanently higher rates multipliers for properties with a Rateable Value of £500,000 or above from April 2026-27 further stating that this “includes the majority of large distribution warehouses including those used by online giants”.

The reduction in RHL relief from 75% to 40% will impact eligible occupiers from April 2025-26. A proactive approach should be taken ensure business rate accounts are efficiently managed and eligible reliefs are reviewed in line with the Governments proposed changes. In particular, eligible rate payers with portfolios across multiple sites should take the time to review how these changes will impact them prior to April 2025.

Occupiers with Rateable Values in excess of £500,000 should also take the time to review and understand how these changes will impact them in the longer term.

SHW’s Rating specialists are on hand and can assist in reviewing your business rates accounts and take recommended actions on your behalf in light of the Governments recently announced changes to ensure the impacts are minimised.

For more information, please contact;

Harry Pleece

hpleece@shw.co.uk

01293 441 323

07714 690 429

CPP acquires Moriarty & Co

Leading commercial real estate advisor CPP has announced the strategic acquisition of Moriarty & Co in a major move by CPP to strengthen its well-established industrial and logistics platform across Yorkshire and the Midlands and launch the firm into the North West and other regional markets.

Moriarty will bring an 6.0 million sq ft ‘order book’ to CPP, comprising existing buildings and immediate development pipeline, creating a combined UK-wide platform of 25.0m+ sq ft.

Steve Moriarty, founder of Moriarty & Co, will join CPP as Director with a national role, working alongside CPP co-founders and Directors Roger Haworth and Toby Vernon and forming part of the 20 members of the team.

CPP is a cross-sector real estate advisory business specialising in leasing, development, capital markets and property/asset management. Founded in September 2013, the team currently operates from four offices in Leeds, Sheffield, Nottingham and London.

Toby Vernon says: “The acquisition of Moriarty & Co is the first stage of a strategic growth plan for the business to build on our solid reputation and market-leading track record and to grow the team further.

“We are thrilled to welcome Steve on board, having known and worked with him for many years. As one of the best-known figures in the UK industrial and logistics leasing market, and a super talented operator, not only does Steve bring a huge order book of prime instructions, he also brings an exemplary reputation in the market and a wealth of experience, knowledge and contacts.”

Moriarty & Co was established in 2010 by Steve Moriarty, and over the last 14 years has built an enviable client base with schemes across the UK, with a focus on Big Box developments.

Steve Moriarty says: “I’m delighted to be working with Toby and Roger again and joining the excellent CPP team. We will be looking to quickly make a number of key hires, growing the business nationally and building on the established brand.”

Two new tenants secured for The Tate Offices, Hove

SHW and joint agent Graves Jenkins have completed two new office transactions at the prestigious, newly constructed Tate offices at the entrance to the Sussex County Cricket Ground on Eaton Road, Hove, East Sussex

The three-story office building totals 9,900 sq ft, with two floors now let, totalling approx. 6,500 sq ft. Act iii, a computer game development studio, has taken the second floor and Damira Dental will occupy the ground-floor space. Each suite offers secure car parking and modern office facilities. Just 3,433 sq ft remains available on the first floor.

James Bryant, Director of SHW, says: “The lettings reflect a record rent achieved for new offices in the Hove area, understandably due to the sought after location and high specification on offer. We have some further interest in the remaining suite, but still encourage inspections for anyone seeking modern accommodation away from the from Brighton city centre, yet still located in an established commercial area.”

Cube strengthens team and rebrands as part of growth plan

Cube Real Estate has rebranded to Cube RE (Cube) and has made three new appointments to expand its team as it kickstarts its growth plans.

Nic Lowry has joined Cube as Investment Director; Jonathan Butcher as Senior Asset Manager and Nick Robinson as Investment Analyst.

Nic joins Cube from Revenue + Capital, previously working at Moorfield Group where he was a Senior Investment Manager in the origination team. Prior to this, he worked with Invista Real Estate as a Fund Manager and has investment experience across the traditional and alternative real estate sectors. At Cube, Nic will be lead on the origination, analysis, and execution of new investment opportunities as well as corporate strategy.

Jonathan Butcher joins Cube from Palace Capital PLC, where he was an Asset Manager, responsible for formulating and implementing business plans as well as coordinating the disposal of number of assets. Prior to Palace Capital, Jonathan worked as an Associate at Allsop in the National Investment Team.  At Cube, Jonathan will be working within the Asset Management team to drive the income profile of the current portfolio and identify value add opportunities.

As Investment Analyst, working alongside Nic Lowry, Nick Robinson is responsible for sourcing, evaluating, and executing new opportunities at Cube, as well as helping the Asset Management team to evaluate strategies for the existing portfolio. Prior to joining Cube, Nick worked in the Investment team at DTRE, providing advice to investors and developers in the industrial and office sectors.

These new appointments follow on from the arrival of Jeff Pym as CFO. Jeff has over 30 years’ experience in real estate at an executive level and has been CFO and Financial Director for businesses covering investment and development in the private residential, social housing, commercial, retail and logistics sectors, both in the UK and Internationally. Previously as GROUP CFO for Tritax, Jeff was part of the management team that listed Tritax Big Box REIT in 2013.

Stuart Loggie, Founder and CEO of Cube, says: “Cube is in a great place to build on its 20-year plus history and we are delighted to add more energy to our team. All of our new professionals bring skillsets predominantly in “beds and sheds”, complementing our hands-on development and added value mindsets across property sector.

“Jeff’s wide and high-level experience in his management roles in finance have already been instrumental in shaping the company as it moves forward. His appointment, and that of Nic Lowry, Nick Robinson and Jonathan Butcher, as well as our rebrand, externally marks the start of a new growth chapter for Cube.

“The last four years have been challenging for the market, but during this period we have been focusing on active asset management across our existing portfolio and have achieved notable success.  We feel 2024 is the year to expand and be ready for the next few years of working hard to uncover opportunity and generate value. We are ready to push forward on growing our existing mandates, as well working with new investment partners, and we are looking forward to a very busy future.”

Find out more about CUBE RE here.

Chubb signs for The Create Building, Crawley

SHW, on behalf of Crawley Borough Council, has completed the latest letting at The Create Building in Crawley.

Chubb Ltd. has signed a lease for the seventh floor and will move into the building, located on The Boulevard in Crawley town centre, in the coming months.

The Create Building is a nine-storey building with 5.5 floors of Grade A commercial office space. Owned by Crawley Borough Council, the rental income achieved will go towards maintain services within the borough.

This signing follows the announcements that:

• Varian Medical Systems Ltd has agreed a lease for half of the sixth floor

• British Airways Holidays has agreed a lease for all of the eighth (top) floor

Adam Godfrey, a Partner of SHW and in the letting team for The Create Building, said: “This is really great news to secure another letting in Crawley’s newest office building again endorsing the’ flight to quality’ that we have been seeing from office occupiers. There is still space available in Create if you would like to join the impressive occupiers already in Create.’’

SHW and Savills are retained as letting agents for The Create Building. Chubb was represented by JLL.

https://property.shw.co.uk/property/details/18539/The-Create-Building-The-Boulevard-Crawley-RH10-1UZ-Office-

Prime Box and Cedar Invest acquire Hampshire warehouse for redevelopment

Prime Box, in a Joint Venture with Cedar Invest, has completed the purchase of Denmark House in Petersfield from Vestey Holdings.

The industrial/warehouse property is strategically located on Bedford Road, just off the A3, providing access North to London and South to the Coast.

The existing building totals c. 112,000 sq ft and will be repositioned to provide c. 80,000 sq ft of refurbished and modernised logistics warehouse space. 

Richard Lord, a Director of Prime Box, comments: “Once complete the property will benefit from new M&E, a large (60m depth) yard, new CAT A offices with modern M&E. The building will be PV ready and will be targeting an EPC A rating.”

SHW advised Prime Box and Cedar Invest on the acquisition, with Avison Young acting for Vestey Holdings.

Tim Hardwicke, partner at SHW, who advised Prime Box, added: ‘’The refurbishment is just what the occupier market wants and the location on the A3 provides quick and easy access to the south coast and London regions, with Portsmouth drive time only 20 minutes and the M25 (junction 10) only 36 minutes.”

Refurbishment works will start in May 2024, led by Faircloth Construction, with Total Project Integration as Project Manager and Quantity Surveyor.  The completed unit will be ready for occupation in Q4 2024.

SHW and Avison Young will be letting agents for the new logistics space.

Boundary buys Thruxton Motor Racing Circuit

Boundary Real Estate Partners (Boundary) has acquired the freehold interest the Thruxton Motor Racing Circuit in Hampshire, on behalf of one of its private investors.

Owned by a private individual since the 1950s, the site comprises over 440 acres of land including Thruxton Circuit; c.150,000 sq ft of industrial warehouses and hardstanding, a CAA licenced Aerodrome and c. 95,000 sq ft of hangars.

The British Amateur Racing Club (BARC) has been headquartered at Thruxton for over 50 years, with the circuit hosting motorsport events including British Touring Cars and Formula 3 racing. Thruxton Circuit is often referred to as the “Fastest Circuit in the UK” where drivers can reach speeds of over 190 mph (300km/h).  Complementing the racetrack, the site boasts a Skid Pan; a 4 x 4 Centre and a 1,100-metre purpose built outdoor karting facility capable of reaching speeds of 60mph. The Aerodrome is home to a range of rotary and fixed wing aircraft businesses, utilising the onsite amenities including, aircraft hangars, rescue & firefighting, fuelling and café facilities.

Charlie Walker, Founding Partner at Boundary comments: “We are thrilled to have completed this off-market acquisition on behalf of one of our private investors. Thruxton is a unique project and a fantastic opportunity to create a lasting legacy for the new owner.”

Simon Bowder of XLB comments “Having completed the business plan objectives for the vendor we are delighted to have disposed of the asset to an investor looking to build on Thruxton’s great reputation.”

Allsop LLP and Lintott & Co acted on behalf of the purchaser and Bidwells LLP advised the vendor.

MRP Achieves 50% Pre Lettings Success At The Portland Building

The Portland Building, a best in class 30,000 sq. ft Grade A sustainable office development in the heart of Brighton has secured leading law firm DMH Stallard for the 6,100 sq ft ground floor of the building ahead of completion later this month.

Developer, MRP has agreed a 10-year lease with the award-winning law firm, which will see the business consolidate a number of its Brighton offices in the one site at The Portland Building.

This latest signing means the building is now 50% pre let following the announcement that the FTSE250 company, Close Brothers, agreed a deal to lease the first floor last year.

Situated on the corner of Church Street and Portland Street, the fully-electric office will have exemplary sustainability and technological features when completed. The operationally net zero carbon scheme is designed to achieve EPC ‘A’, BREEAM Excellent and a WiredScore Gold rating, making it one of Brighton’s most attractive new offices for environmentally conscious businesses. Once complete, it will also feature photovoltaic roof panels, secure cycle spaces accessed via a dedicated cycle ramp, shower facilities, a private courtyard and a communal roof terrace offering panoramic sea views.

With many businesses in the area seeking to upgrade the quality of their working environment, MRP is confident the remaining two floors will be let in the weeks ahead as demand for this prime office space remains strong.

Commenting Ben MacPhee, Development Manager at MRP said: “We are thrilled to welcome DMH Stallard to The Portland Building and it’s a sign of the positivity in the Brighton office market and the quality of the building that we have agreed a second pre-let for this scheme.

“We are confident this strong interest in The Portland Building will continue, and as our tenants begin to move in over the Summer, they’ll be able to enjoy the panoramic sea views from the rooftop terrace.

“We are extremely proud of the role that our team has played in re-energising the immediate area, transforming what was a vacant run-down site for over 20 years, into a modern office that’s helping Brighton businesses grow and expand.”

Richard Pollins, Managing Partner, at DMH Stallard said: “We’re proud to be building upon our presence in the City of Brighton, which will be home to over 100 employees, in a sustainable and prestigious office building which will create a dynamic, modern space for our teams in this thriving City.

“Our presence in the City of Brighton dates right back to the 1970s. Our position as Sussex’s leading, unrivalled law firm enables us to attract the very best lawyers and talent to serve our clients now and for the future.”

Acting on behalf of the landlord MRP as letting agent, James Bryant, Director at SHW adds:

“We’re thrilled to witness esteemed tenants like DMH Stallard choosing The Portland Building, showcasing their commitment to Brighton. The success in securing such levels of pre lets in this development reflects the city’s allure for businesses and the rising demand for premium eco-conscious well-designed workspaces. The building’s unrivalled location in the immediate North Laine area, combined with its sustainable features, underscores its appeal in Brighton’s thriving market of which there is limited stock of Grade A accommodation providing large floorplates.”

Designed by TODD Architects, the building is being constructed to achieve a BREEAM Excellent rating and the RIBA2030 target for embodied carbon making it one of Brighton’s most attractive new offices for environmentally conscious businesses. Once complete, it will also feature photovoltaic roof panels, secure cycle spaces accessed via a dedicated cycle ramp, shower facilities, a private courtyard and a communal roof terrace.

Bridge Industrial Hires Head of Europe

Bridge Industrial (“BRIDGE”), a privately-owned, vertically integrated real estate operating company and investment manager, has announced the appointment of Charles Baigler to lead its pan-European operations.

Baigler joins from Pictet Alternative Advisers, part of the Pictet Group, where he worked for five years as Head of Direct Real Estate managing the firm’s pan-European private equity real estate funds. Prior to this, he founded CBRE Investment Management’s flagship, value add fund series - Europe Value Partners - establishing, raising, and deploying two pan-European real estate funds.

Over his 25-year real estate career, Baigler has invested in excess of $10 bn across all real estate asset classes in over 15 countries, with a primary focus on the industrial and logistics sector. He has previously held senior roles at Rockspring, Catalyst Capital and RBS.

As of 1st April 2024, Baigler is appointed as Head of Europe and will be responsible for leading BRIDGE’s acquisition and development activities throughout Europe. Based in BRIDGE’s London office, Baigler will also lead the growth of the corporate and future regional teams, with an initial focus on the core industrial markets in France, Germany and the Netherlands.

BRIDGE was formed in 2000. Headquartered in Chicago, Illinois, the firm focuses on the development of Class A industrial real estate in the supply-constrained core industrial markets of Chicago, Miami, New Jersey, New York, Los Angles/San Fransico, Seattle and London. Since its inception, BRIDGE has successfully acquired and developed more than 74 million sq ft (6.9 million sq m) of industrial buildings/projects valued at more than $15.8 billion.

The firm launched its UK operations in November 2020 and has since built a 750,000 sq ft (70,00 sq m) portfolio within the M25 across six sites, currently at various stages of development. In the UK, BRIDGE continues to actively pursue land and development opportunities throughout Greater London, the South East and selected supply constrained markets.

Steve Poulos, Founder, CEO and Partner at Bridge Industrial, says: “Having experienced a meaningful market correction across Europe over the last couple of years, now is the right time to invest in both standing assets and development sites in the core markets of France, Germany, the UK, and the Netherlands, acquiring high quality assets below replacement cost and starting the development process ready for a new cycle.”

Charles Baigler adds: “Our strategy, as with all BRIDGE’s assets, is to create core assets in irreplaceable locations which can be held on a long-term basis. I’m delighted to be bringing my experience to this strong, international, entrepreneurial team which has a fantastic track record.”

SHW completes off-market sale of Croydon’s Melrose House

SHW, on behalf of private clients, has sold the freehold interest in Melrose House on Dingwall Road in Croydon to South London based property investment and management specialist, Ganco Assets.

The office building, built in the early 1980s, is located close to East Croydon Station. Comprising circa. 22,500 sq ft, over six-storeys, with basement storage and rear and front parking, the multi-let building was sold part let - offering asset management / development potential for the new owners.

Thomas Tarn, Associate of SHW, says: “Melrose House is a longstanding instruction for SHW, with our agency, lease advisory, management and building surveying teams all having worked with the client. Having reported on the future strategy options for the building, with a focus on current day office occupier requirements and MEES, examining the option to refurbish/reposition the building with both commercial and residential options explored, ultimately, the decision was made by the owners to sell Melrose House off-market and allow a new owner to take the building forwards.

“We set about discreetly sourcing a selection of reputable and active buyers, obtaining offers and achieving a sale price which met with the client’s expectations.”

Richard Plant, Partner of SHW, adds: “This is the latest in a number of freeholds we have sold on behalf of our clients in the Croydon area, including 252-254 High Street and Alhambra House. The changes in permitted development rules in March this year alters the complexion for many buildings and we would be happy to advise other building owners on their options for their existing portfolios.”

SHW adds Facilities Management contract for Norfolk House, Croydon

SHW has been appointed to oversee the Facilities Management for Norfolk House in Croydon, marking a significant step in the management of the property following its recent acquisition by a private investor.

The mixed-use complex, comprising shopping, hotel and office spaces, benefits from its proximity to East Croydon Station, enhancing its accessibility and appeal. The involvement of SHW, which extends from Commercial Property Management to acting as letting agent, forms a strategic approach to optimising the scheme’s potential, leveraging its substantial square footage to attract a diverse range of tenants and visitors.

Situated on a 1.84-acre site, Norfolk House totals 160,672 sq ft, including a 149-bed, 60,000 sq ft Travelodge Hotel, 40,228 sq ft of offices space and 60,444 sq ft of retail. The property is multi-let to tenants including McDonalds, Clydesdale Bank, Moss Bros and Greggs.

Tarniah Thompson of SHW says: “We're thrilled to share that Norfolk House has officially joined our property portfolio and we look forward to working in collaboration with our Property Management team to deliver an exceptional property and facilities service at Norfolk House. We understand that each property has unique needs and challenges. Our dedicated FM team is committed to leveraging their expertise and innovative solutions to optimise the performance of Norfolk House and exceed the expectations of our client and tenants.

“As we welcome this new addition, I want to highlight the crucial role of FM mobilisation and facilities management in ensuring a seamless transition and optimal operational efficiency. Effective FM mobilisation is the cornerstone of a successful onboarding process. It sets the stage for smooth operations, streamlined processes, and a positive tenant experience. From conducting thorough site assessments to implementing tailored facility management strategies, every step is crucial in maximising the potential of our new property.

“Facilities management plays a pivotal role in maintaining and enhancing the functionality of spaces. By prioritising proactive maintenance, efficient resource allocation, and responsive service delivery, we strive to create environments that foster productivity, safety, and satisfaction for all stakeholders.”

Excellent BREEAM rating achieved for The Create Building

The Create Building, Crawley, has been awarded a rating of Excellent for its design, construction and impact on the environment after going through one of leading globally-recognised appraisal processes, placing the scheme in the top 10 percent of new commercial buildings in the UK.

The Building Research Establishment has reviewed the nine-storey building, owned by Crawley Borough Council - hosting the new Town Hall and commercial offices - and given it the ‘Excellent’ certification as measured on its Environmental Assessment Methodology (BREEAM).

The Create Building was officially opened in opened in March 2023 and was designed to minimise overheating in summer and excessive heat loss in winter, to keep running costs down and limit its impact on the environment.

Councillor Michael Jones, Leader of Crawley Borough Council, says: “We selected a design for the Create Building which we hoped would achieve an Excellent rating under the BREEAM scheme, I’m pleased to see that has been confirmed. A building like this helps us to achieve the reduction in carbon emissions we are aiming for as well as providing a good working environment for council staff and our commercial tenants.”

Adam Godfrey, Partner of SHW, joint letting agent for The Create Building, along with Savills, says: “With Varian Medical Systems and British Airways already signed up as occupiers, and a further floor under offer, the excellent environmental credentials, along with its town centre location and outstanding road and rail links to the wider region are providing strong demand for the space.”

SHW completes letting to Autoglass at Centenary Industrial Estate, Brighton

SHW has let Unit 4 Centenary Industrial Estate in Brighton, on behalf of Private Landlord Clients, to Belron - trading as Autoglass.

The 4,862 Sq Ft unit forms part of a terrace of modern industrial and warehouse units, with its own yard/parking area to the front for 9 to 10 cars.

Following the departure of the previous tenant, SHW Building Consultancy team was instructed to prepare, negotiate and agree the dilapidations claim and oversee the tenant’s works to ensure completed to a satisfactory standard.  The Landlord also elected to undertake some additional improvement works which SHW’s Building Consultancy team project managed. 

The Centenary Industrial Estate is an established estate off Hollingdean Road, just to the west of Lewes Gyratory and approximately 1 mile northeast of Brighton City centre. Other occupiers on the estate include Electric Center, Shaws Glass, Brighton Tools & Fixings, Brighton Sun Blinds and AJ Taylor.

David Martin, Partner at SHW reported “There was good interest in the unit from a number of national trade operations and local occupiers, demonstrating the demand for trade units in Brighton where there is a continued limited supply.

“This transaction a great example of our multi-disciplinary range of services, as SHW provided not only one stop agency, building consultancy and earlier lease advisory work, but also annual management inspections thrown in, for good measure.”

Alps Group advised Belron.