News SOG Announce Collaboration With HyNet North West as Heath Park
Feasibility Study Gets Underway SOG Group has recently announced a collaboration with HyNet North West to explore how the hydrogen and carbon capture initiative can help to power Heath Park.
SOG, owner and operator of The Heath Business and Technical Park, last year unveiled plans to transform its site in Runcorn, Cheshire into Heath Park, a sustainable and futuristic environment where people can work, live and play. The scheme has been adopted as a ‘Beacon Project’ by Liverpool City Region.
John Lewis MBE, SOG’s Managing Director, said: “We aim to create a visionary ‘formula for life’ at Heath Park that can show the whole world how we can live in a carbon-neutral eco- community for generations to come. Clean energy is vital to our plans and I am therefore delighted that HyNet North West are now working with us to determine how hydrogen energy can influence the future development and power resources on the site.”
SOG MD John Lewis MBE
David Parkin, Net North West Project Director said: “HyNet North West will play a big part in tackling climate change across the region from 2025 by reducing the region’s carbon emissions by 25% within just five years. It will ensure the region remains an attractive location for investment and for companies to grow through the establishment of a clean economy, protection of skilled jobs and creation of thousands of new long- term employment opportunities.
David Parkin
“Our partnership with Heath Park will show HyNet in action – decarbonising homes, workplaces, travel and industry. We are proud to be part of a Liverpool City Region Beacon Project to create a carbon neutral eco-community as a blue- print for the future.”
M7 Real Estate Sells Wednesbury Trading Estate for £34 Million
M7 Real Estate (“M7”) has sold Wednesbury Trading
Estate (“Wednesbury” or the
“Estate”) to PATRIZIA for £34m on behalf of Tristan Capital Partners’ core-plus fund, Curzon Capital Partners V Long-Life LP.
Wednesbury Trading Estate, which is located approximately 10 miles to the north west of Birmingham, comprises c. 440,000 sq ft of multi- tenanted industrial space across 50 units. M7 was appointed as asset manager by Tristan Capital Partners following their acquisition of the property in 2019.
M7 has undertaken a proactive asset management strategy, deploying selective capex to improve the property as well as growing the rent roll and diversifying the occupier mix e.g. trade counter uses were also introduced as part of recent lettings to Toolstation and Howdens. The Estate is 96% let with a WALT to break of 3.12 years.
Sadie Fitzpatrick, Senior Asset Manager at M7 Real Estate, commented: “Completion of the various asset management strategies, in record time, enabled an early disposal which took advantage of the current levels of exceptionally strong demand for high quality, well located multi-tenanted industrial estates such as Wednesbury”.
8 Eric Wright Acquires Medical Centres For Portfolio
Lancashire-based property and construction company, the Eric Wright Group has acquired two medical centres to bolster its growing property investment portfolio.
The 7,500 sq ft Beech Hill Medical Practice on Gidlow Lane in Wigan was acquired from the GP practice on a 20 year sale and leaseback agreement. The second acquisition, also a sale and leaseback agreement over 21 years, is of the 4,500 sq ft Fulwood Green Medical Centre on Jericho Lane, Liverpool, again acquired from the GP practice. Both medical centres are around 20 years old and each has an integrated pharmacy.
The acquisitions are a further advancement of Eric Wright Group’s ambition to grow its property portfolio to £100m over the next 3 years. Speaking about the deals, Group Portfolio Manager for Eric Wright Group, Patrick Naylor, said: “These two medical centres are solid additions to our growing portfolio which is currently valued at £77m. We have invested in 42 properties across the region and our portfolio has a growing focus on the health and care sector which shows resilience and a great deal of potential for future growth. These acquisitions represent good long-term income producing investments for the Group.”
COMMERCIAL PROPERTY MONTHLY 2021
HyNet North West will produce clean hydrogen at Essar Stanlow. This will then be transported by Cadent Gas in purpose-built underground pipelines to provide clean fuel to industry, homes and transport.
SOG’s project involved a global competition, organised by the Royal Institute of British Architects’ (RIBA), to glean ideas on the ‘Vision of Future Living’ that can be incorporated into the Heath Park vision. It attracted entries from designers, architects and forward thinkers from around the world with fascinating propositions on future trends in employment, housing, leisure, community, energy consumption and much more.
Competition winners EcoResponsive Environments, an emerging design and architectural practice based in London, have now been appointed by SOG to carry out an in-depth Feasibility Study to assess the pioneering and futuristic options.
Says Mr Lewis: “An important part of our Feasibility Study is to look at how we can maximise the opportunities to introduce hydrogen energy into our programme. Local food production and Vertical Farming have been identified as potentially important elements for Heath Park. Through utilisation of clean energy resources, futuristic building designs and operational practices, Vertical Farming has the potential to provide cutting-edge food production through a ‘net negative’ CO2 operation. This is something that so far has not been achieved globally.
“We’re also looking at the power required for future modes of transport and how we can reduce traffic congestion. These are all areas where HyNet’s hydrogen and carbon capture technology aligns with our own scheme.”
For more information on ‘Heath Park’ visit:
www.heathpark-uk.com
For more on SOG and The Heath Business and Technical Park visit:
www.theheath.com
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