PROPERTY
New Government hub completed in Nottingham
Warehouse deal to create local jobs
Industrial landlord Urban Logistics Reit (ULR) has agreed to buy 10 warehouses totalling 375,000 sq ft – mostly based in the East Midlands – in a £40m deal, providing opportunities to create about 400 jobs. The AIM-listed company, whose
tenants are mostly in the supply chain for distribution networks, agreed a two-phase acquisition from Wilson Bowden Developments, which was represented by Chamber member FHP Property Consultants, ahead of the buildings being completed. Detailed planning applications
have been submitted to build the 10 warehouses on four sites – Blenheim Park in Nottingham, Willow Farm in Castle Donington, Optimus Point in Leicester, and Kingsway Business Park in Rochdale. Richard Moffitt, chief executive at
ULR, which was advised by M1 Agency, said the development programme “will add further high- quality new assets to the portfolio at a time when smaller urban logistics warehouses are in short supply”. He added: “Given the strength of
demand for space from occupiers seeking representation in the East Midlands market, which has been undersupplied for some time now, we expect to demand to be strong.” The first phase of the transaction
commits to building four units ranging in size from 18,090 sq ft to 81,100 sq ft at Blenheim Park and a single detached warehouse of 43,850 sq ft at Optimus Point. These are expected to be ready
for occupation by summer 2022 and it’s anticipated could create up to 250 jobs. Another 150 jobs could then be
created during the second package of a further five warehouses, which ULR has the option to purchase, ranging from 20,000 sq ft to 44,608 sq ft later in the year. John Proctor, director at FHP
Property Consultants’ Nottingham office, added: “The growth of e- commerce has been one of the driving factors behind the continued strengthening within the logistics supply chain sectors of the market. “We have seen major large-scale
units of between 100,000 sq ft to one million sq ft being increasingly delivered to satisfy the larger-scale demand.”
74 business network June 2021
Property developer Clowes Developments has agreed a £100m deal with insurance giant NFU Mutual to deliver new logistics facilities throughout the UK – including several in the East Midlands. The deal, which involved law firm Geldards and FHP
Property Consultants, will lead to Clowes delivering six logistics sites – five of which will be speculatively built. Totalling in excess of one million sq ft, the three sites are at East Midlands Distribution Centre (EMDC) in
Castle Donington, Castlewood Business Park in South Normanton, and Centrix Park in Northamptonshire. The size of the new units will range from 58,586 sq ft
at Centrix Park to a unit of close to 250,000 sq ft at EMDC. At Castlewood Business Park, two units will be
delivered measuring 134,192 sq ft and 176,817 sq ft, while EMDC will accommodate buildings totalling 189,573 sq ft and 249,418 sq ft.
Described as one of the most transformational developments delivered in the East Midlands in more than a decade, Unity Square – the new UK Government Hub in Nottingham – has now completed construction. The Grade A office scheme in Queensbridge Road, opposite Nottingham railway station, will be home to HM Revenue and Customs (HMRC) and other Government departments after signing a 25-year pre-let agreement on the scheme with joint venture partners Sladen Estates and Peveril Securities.
‘Unity Square will have a positive impact on job creation and the economic growth of the area’
It’s hoped the modern 10-
storey office block, built at the site of a former multi-storey car park and with capacity for 4,000 workers, will serve as a catalyst for regeneration in the southside area of the city that also features the Broadmarsh site. Nick Sladen, chief executive of Chamber member Sladen Estates, said: “Unity Square will have a positive impact on job creation and the economic growth of the area. It should prove to be a spark for significant regeneration in the
Unity Square in Nottingham is a modern 10-storey office block
southside of Nottingham and provides a striking addition to the city skyline. “We are really pleased that
despite the coronavirus pandemic, and all the labour and material sourcing issues this caused, that the scheme continued on track for its original target completion date.” Peveril Securities and Sladen
Estates purchased the 1.14- hectare site in 2015 and demolished the existing derelict car parks before embarking on the scheme, with the Government hub being forward funded by LGIM Real Assets, part of Legal & General. It was designed by Manchester- based architecture firm 5 Plus and
constructed by Derbyshire-based Bowmer + Kirkland, with the contractors having to contend with the coronavirus pandemic during the final stages of the build. The development is now set to
be one of the largest regional offices for HMRC, whose Nottingham office is currently based at the Castle Meadow campus, when it begins moving employees in from early 2022. Colin Casse, locations
programme director at HMRC, said: “A stunning building, right in the heart of the city, 1 Unity Square will provide a flexible modern working environment that can be adapted as our ways of working develop in the future.”
Deal to deliver logistics facilities
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80
