rula.shoplus.net

Mamhilad Park Estate boosted with major letting deal

2025-03-23 15:42:59 By

Mamhilad Park Estate near Pontypool has been boosted with a major office letting deal.

NHS Wales Shared Services Partnership has taken a lease on 72,000 sq ft of refurbished warehouse space that will be used for the archiving of medical records. It includes 3,500 sq ft of new office space which is in addition to the existing 14,000 sq ft office that NHS Wales Shared Services Partnership already has at Mamhilad.

Moreover, South Wales Fire & Rescue Service has acquired 4,400 sq ft of office and garage space on a two-year lease while their existing local Fire Station is refurbished.

The 140-acre park, which provides 180,000 sq ft of office space and more than one million sq ft of industrial space, is more than 95% let. It is home to more than 150 businesses and organsations.

Peter Downes, operations manager for Johnsey Estates UK, owner-managers of Mamhilad Park Estate, said: “Demand for commercial property can fluctuate, but we continue to enjoy occupancy rates in excess of 95% thanks to our unique offering. Mamhilad is a popular choice with those looking for flexible and affordable space.

“The commitments by NHS Wales Shared Services Partnership and South Wales Fire Service are testament to this, whilst several of our private sector occupiers are also looking to expand significantly in 2025.”

Top-rated Choice

Commercial Property2025-03-23 15:42:59

Big box market could get ‘competitive’ as industrial market returns to growth while development pipeline is limited

The North West’s industrial and logistics market has returned to growth – and a new report suggests a limited big box development pipeline means there will be “competitive tensions” and rising rents. The North West Logic report from Knight Frank showed the market was positive again in 2024 after two years of decline. Occupier take-up reached 4.8million sq ft, up 7.5% on 2023 and surpassing the five-year pre-pandemic average. The study showed manufacturing had a strong year, with a 71% year-on-year increase in take-up from the sector meaning manufacturing made up 39% of total take-up. Meanwhile, retail and distribution sectors accounted for 26% and 28% of take-up respectively. Prime rents hit £11.50 per sq ft, with prime annual rental growth of 15%. Knight Frank is expecting more growth this year, with prime rents forecast to rise by 4.5% across the North West and 5.7% in Manchester. Key deals included the letting of Oldham 369, a 369,251 speculative new build, to food firm Inspired Global Cuisine. Sam Royle, partner, Manchester logistics & industrial for Knight Frank, said: “ The big box development pipeline is limited for the region with only seven units over 100,000sq ft currently under construction and scheduled for completion in the next 12 months. Quoting rents on these new builds are averaging £9.00-£10.00 per sq ft. “With a slow down in the big box development and a lack of Grade A units in the market we anticipate further competitive tensions from occupiers trying to secure best-in-class units. This is likely to lead to upward pressure on quoting rents as the year progresses.” Knight Frank capital markets partner Matt Stretton said investment activity also turned a corner towards the end of the year . He said: “Investment volumes in Q4 were held up by the off-market sale of a cluster of five logistics units and an office next to Manchester airport all of which were let to The Hut Group. “Prime industrial yields in Manchester sharpened by 25 bps to 5.25%during Q4 following six consecutive quarters in which Manchester’s prime yields had bottomed out at 5.5% “The adjustment signals the beginning of a new prime pricing cycle and a transition towards what is anticipated to be a more active market in 2025. At 5.25% Manchester’s prime yields maintain a 25-bps discount compared with prime London & South East industrial. “Most of the activity has been in the multi-let sector, as opposed to logistics where there are a number of estates that have either traded or are under offer. This demonstrates the depth of buyers, particularly for prime locations. “Premier Park at Trafford Park saw competition from most of the traditional UK funds, which drove pricing from a quote of £37.5m to the price paid by M&G reflecting £46.9m. The 20-unit 197,000 sq ft multi-let industrial complex is fully let with 65% of the income subject to a lease event within the next 24 months.”

Commercial Property2025-03-23 15:42:59

Empty office block could be demolished for 140 new homes

An unused office block in Oldham that council officials fear could be a magnet for 'vandalism and anti-social behaviour' is set for demolition to make way for 140 new homes. The demolition of the Southlink building, near Oldham Mumps, was reconfirmed at a cabinet meeting this week. The land, acquired by Vistry Partnership from both the council and Transport for Greater Manchester in the previous October, will be transformed into a residential area featuring 146 affordable houses. This includes 32 for social rent and 77 priced at 80% of market value, reports the Manchester Evening News. Although demolition had been previously approved, progress had paused following an unsuccessful sale attempt to Tilia Homes. Oldham's cabinet member for 'decent homes', Elaine Taylor, commented: "The demolition will enable the site to be readied for construction and remove a vacant building which is likely to attract vandalism and anti-social behaviour, especially at night and weekends which will inevitably cost the council additional money to keep the building safe and secure." The council has stated that the development plan focuses on '100 per cent low carbon homes', equipping them with heat pumps and insulation aimed at preventing heat loss and energy saving, ultimately reducing household bills for occupants. Council leader Arooj Shah hailed the upcoming development as a significant victory amid Oldham Council's housing crisis, with over 7,000 locals on the social housing waitlist. Cllr Shah said: "The green element is also really significant, but when you bring that down to people, that also means they'll have cheaper energy bills. It's a win-win. I'm hoping this will just be the start of so many other developments that are economically viable [for our residents]." A planning application is anticipated by spring, at which point the public will be invited to provide their feedback on the proposals.

Commercial Property2025-03-23 15:42:59

JD Sports updates plans for new 'campus' HQ that will 'rival Facebook and Google'

JD Sports, the fashion retail behemoth, has unveiled revised plans for a campus headquarters in Bury, which company leaders claim will 'rival Facebook, Google and Nike'. The proposed development at Pilsworth, near the M66, includes an all-weather sports pitch, running track and padel court for employees and guests. Preliminary plans for the campus were approved in 2023, and new road access and car parking off Pilsworth Way and Hollins Brook Road have been completed. JD Sports previously stated that they needed to invest millions into the working environment in Bury to 'attract talent' and compete with the facilities offered by global brands and tech firms. Bury Council's planning committee will review detailed plans for 'phase two' of the project next week. The new hub would be a three-storey building serving as a 'central office', featuring offices, a gym, restaurant, cafe, meeting rooms, training facilities and a presentation theatre with outdoor terraces. The building, designed with two wings connected by a central atrium and linked on the first and second floors by a bridge, could accommodate around 2,000 workers. Nearby, multi-purpose all-weather pitch and circular running track would be constructed. The latest plans have scaled down the building from four storeys to three, and previously approved plans for an employee crèche have now been scrapped, reports the Manchester Evening News. JD Sports, currently operating out of three buildings on Pilsworth Road and employing around 1,300 people, is one of the largest employers in Bury. The sports and leisure firm referred to the creation of the campus as 'a pinnacle moment in our company's history' when the outline plans were approved. A design and access report supporting the latest plans stated: "The business is seeking to work with their employees to improve staff retention." It further added, "JD recognise the need to update and improve on the benefits that the business provides for employees. The requirements include an improved food and beverage offer on site, gym and recreation facilities, training environments and collaborative working spaces." The planning committee meeting will decide on the application on Tuesday, January 28.

Commercial Property2025-03-23 15:42:59

Plans revealed for 33-storey co-living scheme in the centre of Cardiff

Plans for a 33-storey co-living scheme in the centre of Cardiff can be revealed. Bangor-based and Alternative Investment Market listed developer Watkin Jones will next week launch a pre-planning public consultation exercise for its 400 build-to-rent bedroom scheme on a brownfield site at Custom House Street. Co-living is a type of communal housing in which residents have private bedrooms and bathrooms, but share other facilities required to meet everyday needs, such as communal kitchens and living spaces. Other shared facilities in the scheme, designed by Cardiff-based Rio Architects, include a gym, gardens and co-working space. The co-living concept has grown in popularity in other core UK cities, including London and Bristol. The statutory consultation will run to the end of March with a planning application expected to be submitted to Cardiff Council in the spring. Watkin Jones, which specialises in student accommodation and build-to-rent developments, is working with planning consultants Lichfields on the project. Two virtual webinars will be staged this month to gauge the views of, and obtain suggestions from, the local community and stakeholders on the plans ahead of submission. Iain Smith, planning director at Watkin Jones, said: "The webinars will provide us with the opportunity to engage with the community, understand their perspectives and ideas. This feedback will help shape our development plans, ensuring that the final submission aligns with the needs of the surrounding community and future residents. As an experienced developer and manager of co-living, the sessions will also provide a platform for the community to ask questions about this emerging form of housing." Subject to planning approval, work on the scheme would start before the end of the year and take around 30 months to complete. As with its other property schemes, Watkins Jones would be expected to sell the asset to an institutional investor. Last year work started transforming the former Knox Court office building on Newport Road in Cardiff for another co-living scheme. It came after developer Urban Centric struck a £23.8m debt deal with Shawbrook for the project at the 60,000 sq ft building, alongside securing a £7.6m equity injection from Housing Growth Partnership, which is part of Lloyds Banking Group.

Commercial Property2025-03-23 15:42:59

New self-storage facility launches

A new self-storage centre powered by the latest technology has opened in the Black Country. Wolverhampton-based Westbeech Group has launched its first Nest Storage centre on Old Hall Industrial Estate, in Revival Street, Bloxwich. Nest Storage is open 24/7 every day of the year with access granted via a mobile app. It is housed in what used to be a bowling alley on an industrial estate that was also once home to a snooker hall and gym. Westbeech Group owns a number of industrial estates across the West Midlands and is in negotiations over a second site in Wolverhampton. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Managing director Ian Houghton said they had researched the self-storage market for the past 18 months before electing to partner with Engage, a Birmingham-based business which runs and manages 22 similar units for different UK brands. "Self storage is a well developed industry but most of the big players in the market constructed their dedicated units in the past five to ten years," he said. "Since then, technology has changed dramatically what we can do and, particularly in the last 18 months, has taken giant strides forward. "We believe we are launching with a cutting-edge product that is designed for today's tech-savvy customers. "Our first unit has been custom designed with new technology inbuilt, whereas retrofitting can cost between £50,000 and £100,000 per site.

Commercial Property2025-03-23 15:42:59

Historic Northumberland pub sold to pub giant Greene King in multimillion-pound deal

A 200-year-old Northumberland pub famed for its ‘cursed’ window collection has been acquired by a pub giant in a seven-figure deal. The Dirty Bottles in Alnwick has been operating as a pub for more than 200 years, but just over 10 years ago it faced closure when developers had earmarked it to be turned into flats. Local entrepreneur Mark Jones stepped in to save the building, believed to have been built in the 1600s, and transformed the pub with a number additions, including the acquisition and incorporation of the former Oscars bar at 34 Narrowgate, and the development of adjoining properties 28 and 30 Narrowgate. Now property agents at Christie & Co have overseen a deal to sell the pub in the £1m-plus investment deal to Greene King, one of the UK’s leading pub companies and brewers. The pub used to be called Ye Old Cross Inn but took on its current name in honour of the “curse of the dirty bottles”, a 200-year-old legend which holds that the innkeeper dropped dead while interfering with the bottles in the window. His widow said that anyone who did the same would meet a similar end, so the “dirty bottles” were sealed between two windows and have remained untouched ever since. Former owner Mark Jones said: “As an Alnwick lad, I am really proud to have transformed what was a derelict, unloved row of buildings into a sympathetically restored and bustling hospitality venue, taking turnover from zero to circa £3,000,000. As well as giving locals and tourists somewhere of real quality to drink, eat and stay, we have also created and sustained around 40 jobs for local people. “I have thoroughly enjoyed owning and operating The Dirty Bottles, but my real passion is redeveloping and refurbishing buildings. I have a number of other projects in the pipeline across the county, as well as my co-owned camping and glamping business.” Richard Smith, estates director at Greene King said: “The Dirty Bottles has a rich and fascinating history in Alnwick and under Mark’s ownership has significantly evolved over the past decade to combine history and heritage with a modern contemporary feel. “We want to retain and build on everything about the pub that makes it such a success, while also helping to invest in its future.” David Cash, regional director at Christie & Co who brokered the deal, said: “The Dirty Bottles is a superb example of a pub/restaurant with rooms which has benefitted from security via multiple income streams, providing some protection from the challenges that the wider industry has faced over recent years. Huge credit to Mark and his team for remaining innovative and tenacious in their approach to operating a hospitality business in the current climate.

Commercial Property2025-03-23 15:42:59

Indoor golf bar Pitch latest to target Birmingham

Another competitive socialising venue has announced plans to open in Birmingham. London-based group Pitch will launch an indoor golf bar in 2 Colmore Square in April, becoming the firm's first venue in the Midlands. The new destination will have eight simulator bays which will give customers the chance to "play” on some of the world's best-known courses. There will also be a bar, food menu, premium space for members and their guests, professional coaches on hand to offer tips and an academy aimed at encouraging women to get into the sport. Pitch will join a growing trend of activity-themed bars to open in Birmingham city centre in recent years, including F1 Arcade at Paradise and its sister venue Flight Club in Temple Street. Other brands to have tapped into the trend include Toca Social football in the Bullring and Clays laser shooting in New Street, both of which opened last year. Pitch co-founder and chief executive Elliot Godfrey said: "With a rich history and large contingent of modern, forward-thinking residents, Birmingham was an obvious choice to open one of our first venues outside of London and we're very much looking forward to bringing Pitch to the city." Co-founder Chris Ingham added: "We're thrilled to have secured a location right in the heart of the action, with a huge choice of transport links, accommodation, restaurants and bars a short walk away in every direction." Pitch has other venues in London, Dublin and Manchester and the move into 2 Colmore Square follows the recent news it is undergoing a revamp. The building and its adjoining neighbour Cannon House, in The Priory Queensway, are being given a facelift and rebrand to become 'Multistory'. The new-look, eight-storey building will have 75,000 sq ft of new grade A office space and a further 15,000 sq ft of amenity space for tenants.

Commercial Property2025-03-23 15:42:59

Sale of luxury London hotel boosts profits of family-owned empire

Apex Hotels, the family-run hospitality empire, has reported a substantial increase in pre-tax profits to £28.4 million for the year ending 30 April 2024, following the lucrative sale of its Apex London Wall Hotel in July 2023, which netted an £18.9 million gain. The group also saw revenues climb from £74.8 million to £79.4 million during this period, attributed to higher room occupancy and rates, as reported by City AM. The proceeds from the hotel sale, along with funds from a refinancing agreement with Barclays Bank, are fuelling Apex Hotels' expansion across the UK. In its latest financial year, the company added Pine Trees Hotel in Pitlochry and Meldrum House Country Hotel and Golf Course in Aberdeenshire to its portfolio. This year, it has continued to grow, acquiring The Vineyard Hotel in West Berkshire and the DoubleTree by Hilton Dunblane Hydro in central Scotland. Angela Vickers, Chief Executive of Apex Hotels, expressed optimism about the future, stating: "Following strong trading last year, we have set out a path for continued growth of the portfolio through strategic acquisitions and refurbishment of existing properties." "The acquisition of Pine Trees, Meldrum House, The Vineyard and the DoubleTree by Hilton Dunblane Hydro marks a new chapter in the group’s history as we venture into rural resorts and hotels. Offering greater choice will help maintain customer loyalty and enhance the guest experience." "Maintaining a healthy profit margin has allowed us to continue to sustainably re-invest in our hotels, our people and our continued commitment to our ESG strategies." "I am delighted to see the impact of investment in plant and infrastructure delivering reductions in scope one and scope two carbon footprint during the year, despite the three per cent increase in total rooms sold." "We look forward to another strong year in 2025 as we continue to grow our market position and establish ourselves as one of the top independent hotel groups in the UK."

Commercial Property2025-03-23 15:42:59

32-storey Sky Gardens residential tower to dominate Leeds after £54.4m loan deal

A Grade II-listed former mill in Leeds is set to be transformed into a vibrant residential destination with a 32-storey housing tower following a £54.4m loan deal. Real estate finance provider Maslow Capital has provided the multimillion-pound development loan to back a joint venture between CityLife and Torsion Group, which is set to develop the landmark Sky Gardens scheme in the city. A brownfield site which is just under one acre in size will be turned into Sky Gardens, a huge build-to-sell scheme with 306 homes set across the 32-storey skyscraper – which is set to become one of Leeds’ tallest buildings – and a three-storey refurbished former mill. Once finished, apartments will range from studios to three-bedroom homes to cater for different residents, and the project will also include a number of “premium” on-site facilities including a gym, a cinema room, a luxury residents reception lounge, and the ‘Sky Garden’ – a stunning rooftop area with 360 degree views across the city from the top floor. The development will also include two commercial units. The development team says it is working to preserve and sensitively restore the Grade II-listed mill and integrate it into the wider design, as part of a block housing 22 residential units. The developers say Sky Gardens, set on Water Lane in Leeds’ South Bank regeneration area, embodies Leeds’ ambitious spirit. Gareth Morgan, managing director at CityLife, said: “Leeds has always been a city of ambition and reinvention, and Sky Gardens embodies this spirit. This project allows us to preserve an extraordinary piece of our industrial history while offering modern, sustainable living that meets the needs of today’s residents.” Matt Pigram, senior director, origination at Maslow Capital, said: “CityLife and Torsion Group bring extensive expertise to this project, and we are confident their combined vision will drive the scheme’s success. This £54.4m facility deepens our partnership with both developers, bringing our total support to a combined 896 homes across three major Leeds projects—an effort that underscores our commitment to addressing the region’s ever-growing need for high-quality housing.” David Worsley, COO at Torsion Group, said: “We are delighted to continue our longstanding relationship with Maslow Capital with this being our third transaction following the successful completion The Phoenix and Flax place. Torsion Group is proud to be part of this joint venture, bringing together a highly experienced delivery team including investment, construction and development management expertise. “In partnership with CityLife, we are fully committed to providing Leeds with a best-in-class development which is designed and constructed with placemaking and ESG at the heart of the concept.”

Commercial Property2025-03-23 15:42:59

Strong tenant interest in £12m low carbon Carmarthenshire office and industrial scheme

A new sustainable £12m office and industrial development in Carmarthenshire is already half let with strong tenant interest in remaining space. The Parc Gelli Werdd development at Cross Hands provides 26 office and workshop units, which collectively extend to 32,500 sq ft. The project was finance with £4.5m from the Welsh Government, £1.25m from Carmarthenshire County, as well as backing from the Active Building Centre and the European Regional Development Fund. Thirteen units are already occupied, with a further three under offer. The scheme is being managed and marketed by the council with quoting rents for offices at £11 per sq ft, hybrid units £8.50 sq ft and light industrial space £7. The low carbon development, part of the Welsh Government’s property delivery plan, comprises high performance insulation and roof mounted solar panels that will deliver reduced building running costs and benefit the environment. Designed to achieve net zero carbon in-operation target, it also includes an building management system that incorporates a bespoke metering and monitoring platform to enable billing and detailed performance monitoring. This will allow tenants to manage electricity consumption to achieve cost efficiencies. Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said:“We are determined to stimulate green economic growth, creating sustainable employment opportunities and supporting Wales’ transition to a low-carbon economy. “I’ve spoken to so many businesses both here in Carmarthenshire and elsewhere who have been clear that creating localised, well connected, high-quality business spaces with sustainability at their core, is a priority for expansion and job creation. “The Parc Gelli Werdd development has been built to exceptional environmental standards and will reduce operational costs for occupying businesses whilst minimising environmental impact, in accordance with the net zero strategic plan.” Among the first companies to occupy units at the site is Conquer Teamwear. Company owner Chris Jones said: “Moving into units 3 & 4 at Parc Gelli Werdd has been a great boost for our business and will help with the continued growth of Conquer Teamwear. The units are of a really high specification and the location is perfect for our staff and customers, being just a few minutes off the dual carriageway and Cross Hands roundabout.” Leader of Carmarthenshire County Council, Darren Price, said: "The Parc Gelli Werdd development is an important example of how the local authority and Welsh Government can collaborate to deliver high quality business space with sustainability at its core. "The council is committed to tackling the climate emergency, working towards our net zero carbon goal, and business space like this prove that this ambition is possible. “It is encouraging to see a number of Carmarthenshire businesses already utilising this space, allowing them to grow their business create local jobs and pursue their own sustainability goals moving forward.”