the north east |
and 81 Fountain Street, which have a combined value of £65m, both located in the central business district of the city. 81 Fountain Street was sold to Aprirose and provides space to the Kier Financial Shared Service Centre, which relocated in May 2017. Eleven York Street was purchased from Aberdeen Asset Management in November 2016 and will consist of 85,000 sq.ft of office space. The team is working on the new design and is preparing for demolition to commence in October. Once complete, the junction of Fountain Street and York Street will be transformed into a vibrant and contemporary space in the heart of the city. The team has also expanded its
activities in Newcastle and Glasgow, purchasing a 26,000 sq.ft office known as Percy House and Strawberry Place in Newcastle. The development contains several incumbent tenants and the team has a vision to refurbish vacant space and develop newoffice, hotel and retail space alongside. The northern team purchased a further
office block with incumbent tenants known as Bothwell House in Glasgow in 2016. This is the second development Kier Property has undertaken with FORE, following the successful completion of a 46,512 sq.ft office block in London. The retail and leisure market has also
proved fruitful for Kier Property, with schemes in Hull, Wakefield, Durham and Thornton Cleveleys. Earlier this year, Kier Property
purchased the six acre site at Thornton Cleveleys from Telereal Trillium for £3.4m and plans to construct a 70,000 sq.ft retail park. The company has secured tenants including Aldi, Iceland, McDonalds, Poundland, Costa, Greggs, Subway and Barnardo’s. The team is also working to bring
forward schemes in Hull and Durham. Kingswood Retail Park in Hull is being developed in joint venture with Kingswood Parks. The retail park proposals, which are currently in the planning process, will see Kingswood Retail Park offering 83,500 sq.ft of retail units housing homewares, fashion and restaurants. The retail scheme in Durham is also
3 Sovereign Square, Leeds
currently in the planning process. Kier Property’s application will see a scheme comprising 60,000 sq.ft of bulky goods retail development space. Kier Property’s most recent completion
in the North is the Snowhill Retail Park in Wakefield. This retail park comprises 10 new units totalling 48,613 sq.ft. Occupiers include Aldi, Iceland, Poundworld, McDonalds, Costa, Barnardo’s, Greggs and Subway. The park opened in May 2017 and is already proving a success. The student
Snow Hill, Wakefield COMMERCIAL PROPERTY MONTHLY 2017
market has provided great returns and represents Kier Property’s desire to continue to find well located sites in key cities where there is a strong requirement. With a proven track record in delivering student accommodation-led schemes, and having successfully delivered more than 1,600 units in Glasgow and
Salford combined, the team plans to continue to expand the pipeline with over 1,000 student rooms planned over the next five years. The team is developing a new student
scheme in Newcastle known as Oxford House. This completed scheme will be managed by Sodexo and the 329 rooms will be available for occupation in September 2017, in time for the new student year. Other key schemes the division has also
completed includes a hotel with Motel One in Newcastle and the recently sold Travelodge development in Sunderland. Overall, Kier Property is making its mark
and has been shortlisted for several regional and national industry awards. These accolades, coupled with Kier Property’s expansion strategy, has enabled the team to positively reshape the property landscape through their strong financial partnerships, and partnerships with the public and private sector, ensuring they remain well placed to continue to drive change and opportunity forward in the North of England. w:
www.kier.co.uk/property e:
tom.gilman@
kier.co.uk t: @KierProperty
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