Posted on August 19, 2011 by John Cronin
A newly-opened innovation centre at a former airfield in Leicestershire has welcomed its first tenants.
The Harborough Innovation Centre (pictured) is a new £4.2m development located at the Airfield Business Park, Market Harborough.
Part funded by the East Midlands Development Agency and Harborough District Council, the speculative scheme was completed and officially opened in June. Centre management firm Oxford Innovation Ltd (Oxin) has been appointed to manage the centre. Oxin manages 19 existing business and innovation centres across the UK.
The council hopes the new centre will eventually create up to 180 new jobs in the town. The scheme has already attracted new tenants including business coaching firm Sporting Edge; production design specialists Broderick Projects and commercial property development agency Intali.
Commenting on the new office suites Adam Burdett, Managing director of Intali, said: “I was not expecting the quality of accommodation and service that have been delivered. I am delighted to have secured an office in what I am certain will be a hugely successful project for both Harborough District Council and Oxford Innovation.”
Harborough Innovation Centre offers 52 offices, eight studios and meeting rooms together with catering facilities and a business centre. Suites range in size from 170 sq ft to 990 sq ft and are available to let on flexible terms. The building has achieved a BREEAM rating of ‘Excellent’.
Airfield Business Park is a development by property developers William Davis and is a mixed-use development of offices and units. Planning consent is in place for an additional 250,000 sq ft of business space.
Posted in Leicestershire |
Tagged Business Parks, Serviced Offices, Speculative Developments |
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Posted on August 17, 2011 by John Cronin
A stalled office development in the heart of Glasgow looks set to be completed by the end of the year as contractors move back on site.
Construction work at the speculative Copenhagen Building (pictured) was put on hold last year when the original construction firm entered administration. However, the offices are now expected to be ready by the end of 2011 following Allied Irish Bank’s decision to award a £1.2m contract to Clark Contracts.
The Copenhagen Building, located on Hope Street in the International Financial Services District of Glasgow, is a redevelopment of two, Grade II Listed buildings. Incorporating a modern glass curtain wall and atrium, the 10 storey scheme offers 65,000 sq ft of Grade A office accommodation. Floor plates range in size from 5,600 sq ft to 6,765 sq ft. The building has a BREEAM rating of ‘Very Good’.
The speculative scheme has had a chequered history. Named after Copenhagen, the Duke of Wellington’s horse at the battle of Waterloo, the topping-out ceremony at the development was held in December 2008. The offices were originally scheduled to open in June, 2009. By April, 2009 the scheduled completion date had slipped to “late autumn”. That date was also missed and then construction works were suspended in 2010 when main contractors Chard Construction went into administration with debts of approximately £400,000.
On being awarded the contract to complete the works, Gordon Cunningham, Clark Contracts MD, said: “We very much look forward to completing the development which will, without doubt, be a valuable addition to Glasgow’s stock of Grade A office accommodation”.
Headline rental prices have not been disclosed.
Posted in Glasgow |
Tagged Listed Buildings, Renovations, Speculative Developments |
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Posted on August 15, 2011 by Nell Frizzell
So, we have “Five of Britain’s wealthiest and most enterprising business leaders,” sitting in a warehouse apparently designed by Travelodge and lit by the London Dungeon. According to Evan Davis, these fire-breathing business bods will “make or break the dream of budding entrepreneurs,” over the coming weeks. Imagine the love child of Jimmy Savile and Bill Gates. Actually, don’t. You’ll never sleep again.
According to Evan, they’ve all built their empires up from scratch. Arguably, the same could be said of mosquitoes.
“The best will leave with backing for their business. The rest will leave with nothing,” reiterates Evan Davis. I didn’t know they strip-searched them on their way out. Seems a little harsh.
The first business to pitch is the mischievously titled Rascal Dog Litter. It appears to be two women holding fluffy dog toys as a man shifts uncomfortably between them. This is husband and wife team Mina and Tim, plus their US investor Patricia. “As you can see, I love dogs” says Mina, which is a touch harsh seeing as her husband is standing right next to her.
“It’s a little bit much to expect your dog to hold his bladder for hours on end,” says the ever understanding Mina. Although, I feel duty-bound to point out that this is sort of what lampposts and bins were invented for. Well, that and to provide an early form of dog-specific Twitter. The kit centres on a “machine-washable grass pad”. Maybe Bodyform could approach the organic menstrual market for investment.
It’s nice to see that haulage expert Hilary has strapped on her white wing pads again for the show. Now, Hilary has some sympathy for Mina, Tim and ‘Tish as her dogs are apparently too shy to make like bears in the woods. So, she is understandably concerned about her “teacup yorkies”. I’m pretty sure they are a biscuit, but hey, who am I to argue with a woman wearing clouds as shoulder dressings?
Luckily, Patricia has a training spray. It mimics the smell of collaborative dog piss, which is a perfume that I fear Lynx cornered years ago. Still, its just the mood-maker my new kitchen has been looking for. The Rascal turnover may be up £100,000. Who knows? Not Tim. The profit figures are more elusive than a flushable dog toilet. Deborah doesn’t like the idea. She thinks dogs should go outside.
Duncan then shouts down Mina as she’s trying to explain that dogs are just like a family member. Well, I know my great uncle Bob certainly could have benefitted from a washable grass pad. Especially after Christmas lunch.
Fairly unsurprisingly all the Dragons are out. Which makes the sight of two strangers clutching fluffy toy dogs strangely heart-rending.
The second pitch starts, like all great business deals, with some booze. In particular an all-you-can drinks member’s bar. Which makes Deborah worry that all her staff will be pished. Some people have no vision. Well, no double vision, anyway.
Peter Heart from Poole is a fruit and veg man who appears to have brought half a pound of family with him for the pitch. This is more oddly dressed children than a Geldof family bash. And balloons. Lots of balloons. The business idea is to franchise the Heart’s existing fancy dress business, Fun Fancy Dress. They are currently making a fairly healthy profit and employ seven people. Presumably these employees aren’t all children dressed as Kanye West and the Village People. Sadly, as the conversation turns technical the mood deflates like a blow-up Rolf Harris costume.
But what’s this? Duncan Bannatyne is stepping in to save the day? Only with a 60% ownership deal, which then gets haggled down to £100,000 for 50%. Nice work Veg Man. Nice work indeed.
As Evan points out, entrepreneurs have to make their idea stand out. Which, in the case of Leon Lee from Kent doesn’t just extend to having the same name twice, but also stripping down to his vest. Or weight-loss clothing, as he calls it. Peter Jones whips on one of Leon’s batman suits, which has been proven by Preston University. That’s a little like saying that your protein shake has been proven by the Redruth Agricultural College, but what the hey.
Next up we have former electronic engineer Alexandre Tomich, who I’m pretty sure is wearing his dad’s corduroy jacket. Alexandre wants £80,000 investment for his Philharmonic, portable, remotely-controlled lights. Poor old Alexandre is more nervous, breathy and panicked than a sixth former asking his sex education teacher out for dinner. Never mind. Maybe he can blind them with his apocalyptic lights display.
“Duncan Bannatyne is not looking impressed,” intones Evan. Well, that makes a change. Alexandre is a self-made refugee who feels at home tinkering with the switches of Britain, he tells the panel. However, Hilary is struggling to imagine Alexandre being regular. The boy probably just needs some muesli. Or prunes.
Will Peter Jones offer the olive branch of almost total ownership? Sadly, no. But all Dragons treat the Grandmaster Flash with respect and admiration. So, that’s nice.
The final pitch comes from the brotherly love team of Jim and Richard George. These two – who have made the effort to come along wearing not just matching suits, but matching faces – approach the Dragons for £160,000 for 20% ownership. Their product is basically a plastic coat for fence posts that you apply with a blowtorch. You see, this is why I never wore shell suits too close to a radiator.
Before these fence jackets, the brothers George were producing what they call “door products,” whatever in the name of knobs and knockers they are. Doors, presumably. Which is probably a good track record business-wise, if not grammatically. No wonder Network Rail are interested.
Deborah offers all the money for 35% of the business, but she is rebutted like sheep spring-boarding in to a dry stone wall. Theo offers all the money, but for 30% ownership, while Hilary is happy to bunk up with Duncan and split the investment. Which means four offers on the table but for more ownership than they’d hoped for.
Sadly, the fabulous George boys manage to throw it all away with an audacious and possibly unwise set of refusals. As dragon after dragon pulls out, it’s like watching Tweedle Dee and Tweedle Dum get beaten about the head with a cement fleece.
Oh well. In the words of Evan Davies, at least it shows that if you don’t like a deal, you can always walk away. I hope you’re listening Noel Edmonds. I hope you’re listening.
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Tagged Dragons' Den Blog |
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Posted on August 15, 2011 by John Cronin
Plans for a new Business Quarter in Chester have progressed with the acquisition of a prime development site.
Manchester-based Muse Developments has announced the purchase of a 3.5-acre site from Lloyds Banking Group. The purchase price has not been disclosed.
The proposed Business Quarter, located by Chester railway station, is a major part of the ambitious, billion-pound One City masterplan proposed by Chester Council. The scheme is expected to create over 1,000 new jobs and will see the development of 500,000 sq ft of prime, city-centre office accommodation.
Phase one of the development will see the existing Premier House building (pictured) demolished and replaced by two new, six-storey office buildings offering total floor space of 150,000 sq ft. The offices will be constructed using latest energy-saving techniques and are expected to achieve BREEAM ‘Excellent’ ratings. Lloyds, which has other large offices in Chester, announced the closure of its Premier House call centre in July, 2010.
Simon Reynolds, director at GVA, who advised Muse on the acquisition, said: “This an exciting opportunity which will enable Chester city centre to compete with other key regional centres such as Liverpool and Manchester. The new Business Quarter will also provide Grade ‘A’ office accommodation, which will be a market leader in terms of design and sustainability.”
Chester already has a significant development that has proved popular with the financial services industry. Chester Business Park, located 1.5m outside the city-centre, is a 175-acre site offering 1,250,000 sq ft of prime office accommodation. Tenants include Marks & Spencer and Bank of America.
Muse expects to submit a planning application in early 2012, with construction to start the following year.
Posted in Cheshire |
Tagged Business Parks, Demolitions, Planning, Speculative Developments |
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Posted on August 8, 2011 by Rob Powell
First up in the Den was Lady MC & DJ Trickles from the British BJ&MC Academy. They parked their Bass Station in the Den and asked for £150,000 of investment for 20% of their company.
The multi-strand education provider offers music and DJing courses for adults and young people. Peter Jones proved anybody can have a go by getting up and giving a rendition of the Hip To The Hop that might have been best left in the bedroom mirror.
All of the Dragons were impressed by the passion of the social entrepreneurs, but none saw it as an investable opportunity and they left the Den with only warm words and the uncomfortable memory of Peter Jones rapping.
Love Da Pop claim to “make, pack and sell the world’s best popcorn” and the trio of advertising execs behind the plan wanted £70,000 for 35% of their business.
The Dragons all liked the sweet snack but their plan to expand from special events into retail went pop after Theo explained some of the harsh realities of distribution.
“It’s not a business, you’re not going to take over the world, you’re not the next Ben and Jerry… this is painful, ” declared Duncan Bannatyne.
He was out and so were the others soon after with the exception of Peter Jones who said they reminded him of the founders of Innocent drinks. His offer of all of the money for 45% of the company was accepted and the first deal of the night was done.
Glen Harden from Kent came into the Den with his son and an idea that he said had been sitting in his dad’s lockup for fourteen years. The UV Body Sculpture gives you, he claimed, a better looking body through selective tanning.
The “refreshing” and “honest” inventor admitted it “might be nothing” but reckoned the potential market was huge. New Dragon Hilary said she couldn’t invest the £50,000 in it that Glen wanted – “it’s too ‘ard earned”. The other Dragon’s also declined to invest.
Liz and Alan Colleran from a company called Raskelf wanted £80,000 investment, and a bit of mentoring, to help expand their memory foam products business across Europe and the US. Their caravan mattresses might have been equipped with memory foam but their own memory was found wanting when the Dragons wanted to drill down into what the company was spending its money on.
“We’d know within five seconds of getting back to the office,” said Liz.
Duncan Bannatyne didn’t hide his frustration: “Your numbers don’t add up. It’s ridiculous and ludicrous and I am out.” Peter, Theo and Deborah also declared themselves out and the crestfallen couple looked at Hilary Devey for their final chance.
There was a long pause. Was her foot itching? After the silence, came an offer of the full amount for 26%. After years of requiring business people to justify their percentages based on company valuations, Hilary rather undid all this by saying she wanted more than a quarter of the limited company so that the Colleran’s didn’t have complete control of the business.
The deal marked the first investment for the newest Dragon in the Den and took the night’s investment total to £150,000.
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Posted on August 2, 2011 by Rob Powell
Social media giant, Facebook, is expanding its operations in the UK with a move to a new larger, London office.
The tech firm is reported to be moving from its Carnaby Street office to new premises in Covent Garden. The new offices are in a listed building and offer 36,000 square-foot of space.
“As Facebook’s growth continues, we are delighted to be expanding our operations in the UK with a move to a larger office in central London next year.”, Joanna Shields, Facebook’s vice president and Europe, Middle East and Africa managing director, told the Telegraph.
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Posted on August 1, 2011 by Nell Frizzell
Danger! Says the oddly-lit sign. Keep out! Says the wobbly wall notice. “Brreaaaaeeaammmmnmm” screeches the particularly unexpected electric guitars until behold! The Dragons are standing on top of the very same tower blocks our beloved Lord Sugar was contemplating chucking himself off just weeks ago. Is all British business enacted on helipads and fire escapes? Is this some sort of anti-CCTV strategy?
Now, fans of the show cannot fail to notice that there is a new dragon in town. She’s northern, she’s brunette, she’s glamorous and she made her millions in the haulage industry. It’s Hilary Devey – the den’s answer to Cheryl Cole. And she’s strapped a couple of high fashion airbags on to her shoulders for good luck.
The first investment opportunity comes in the form of ex-city trader and mum Georgette Hewitt. Now, quite why Georgette has decided to make her presentation by bike is something of a mystery, seeing as this is basically a website to ease the financial dealings of children. Perhaps there just wasn’t anything to lock her bike to outside – maybe this warehouse is actually surrounded by moorland.
Anyway, Georgette’s site, The Present Club, “treats children to an online experience”. Sadly, all the coloured boards and talk of presents has made Georgette freeze up like a penguin in Farmfoods. She just about chokes out the words £60,000 before Peter Jones has to take over. “It’s kind of a wedding list for kid’s birthdays,” says the lost Jonas brother. Funnily enough, both Jones and Theo Paphitis rather like the idea of a site where you can just transfer money to children without actually entering a shop. I honestly had no idea that business men didn’t simply yearn to zoom up the aisles of the Early Learning Centre in one of those yellow plastic cars.
Sadly, the idea falls a touch flat with Duncan Bannatyne. “This is a terrible, terrible, horrible idea,” says the den’s Braveheart. Luckily Georgette still has her ‘retail guru’ and ‘technology expert’ on side. Not to mention a £60,000 for 30% offer. I tell you, there’s money in that there internet.
And so, from children’s toys to urinal splashback. Some guy called George takes the fairly unorthodox approach of walking in to a room full of millionaires and trying to take a piss through a drinking bottle. Well, what can I say, it worked for Armitage Shanks. Sadly, the Egglu fails to grab any of the dragons by the business bladder, leaving George to stand, morosely, holding his bottle of orange urine and enormous Easter egg. Never mind George. In the words of Hilary, “Where there’s muck, there’s luck.”
Next up is Alan. Alan is looking for £100,000 to boost his Maruji Beach idea. According to Alan, a vibrating bed and some hectoring podcasts will ‘cure’ the obesity problem in this country. Well, having a shaky nap time – or ‘sit and slim’ as Al calls it – does sound a heck of a lot nicer than going to the gym. Although I must point out that my grandmother used to have a vibrating chair where she would listen to Channel 4 Racing and smoke John Players Specials for about sixteen hours a day, and she was 18 stone with legs like purple turnips.
“You make my foot itch, mate” says Hilary, which either means she wants to kick him in the nads, or it’s some sort of haulage code for an unseemly act. Deborah Meaden, on the other hand, tells Alan that life’s too short for her to go in to business with him.
Next up is WarmaHorn – the only brass instrument jacket named after microwaving keratin. The verdict on these neothene niceties? “Look up Brass Bands investors in the Yellow Pages.” You’ll find it there, just above brothel heaters, I checked.
Following WarmaHorn, some guy gets his balls out. Oh no, sorry, he is the ball. A human cannonball, which only partly explains the giant toothpaste tube behind him, painted with “The New Generation.” Luckily, he’s brought a small cardboard model and some family photos with him to explain things. Apart from the canonballing part. That’s covered by the legendary ‘Human Cannonball Code.’ Grown men have died for less. The only way he can reveal the mystery and magic of lobbing yourself head first out of a tube with explosives up your bum is if they invest some money.
Mr and Mrs Ball met on holiday, when he flew passed her and in to a net. Like You’ve Got Mail, but with slightly cheaper dental work. Sadly, despite their enthusiasm for the lovely couple, none of the dragons want to invest. “I’m pretty sure human cannons don’t grow on trees” says Deborah. I only wish I had her confidence.
There is a similar fate for some fitted, super-heat-resistant oven gloves. Or ‘glovens’ for those of you who have lost teeth recently. Apparently, the idea of an easy-to-use, more-heat-resistant oven glove is absolutely ridiculous. Yeah, take that wrist blisters and spilled food.
The final pitch comes from Paul Daniels. Oh okay, it’s not Paul Daniels, it’s Ray Reardon. And he’s given up both professional magic and snooker to sell solar panels. Oh okay, it’s not Ray Reardon either, it’s former bodybuilder Chris Hopkins. “The perky roofer from Halifax” is looking to break in to the southern market and get a 20% ownership. He’s halfway through negotiating a 30% offer from Duncan Bannatyne when the rest of the Dragons get all shirty about being overlooked. Like single women at a synagogue mixer. Hilary slides in with a 26% offer and Deborah makes a rather sultry offer whilst fondling her pen.
Duncan Bannatyne then launches an unexpected Northern Uproar offer by telling Chris that he should only consider a joint offer from him and Hilary – he will not work with Deborah or Theo. This is a strictly above-Birmingham deal. Poor Chris’ eyes start swivelling like plates at a Greek wedding before cutting to the chase and accepting an offer from the two southerners. Because he wants to break in to a Southern market. And because he likes good humus.
And so, as the floating blue egg of stray urine bobs beneath the surface of neothene posing pouches, I notice that we’ve come to the end of the show.
See you all next week. Oh, and Evan? We’ll need to check your pockets on the way out.
What did you think of the first episode of this series of the Dragons’ Den? Which businesses would you have invested in? What do you think of the new dragon, Hilary Devey?
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Posted on July 29, 2011 by John Cronin
A significant tenant has been secured for the Maxim Office Park near Coatbridge, Lanarkshire.
The future of the financially troubled Maxim Park (pictured) looks somewhat brighter following the substantial letting of the entire Maxim 6 building. The Scottish Environment Protection Agency (SEPA) has agreed to a 20-year lease on the 60,000 sq ft office block.
Described as the largest speculative office development in the UK, Maxim Park has had a turbulent financial history and was only recently rescued from financial collapse. A sale of the Lloyds Banking Group debt on the development to New York based Cerberus Capital Management gave the scheme a lifeline.
Maxim Park is a mixed-use, 750,000 sq ft speculative development of retail space and large, open-plan office accommodation. The offices are predominately 4-storey buildings with the largest being the 187,000 sq ft Maxim 5. One of the largest speculative office buildings in the UK, Maxim 5 offers floor plates of around 47,600 sq ft. All buildings in Maxim Park are BREEAM rated ‘Very Good’ or ”Excellent’. Quoted rental prices for office space is £14.50 / sq ft and rent-free periods are available.
SEPA is to retain its headquarters in Stirling but will relocate 350 staff from other existing offices. SEPA will relocate 200 staff from two offices that are due to close in East Kilbride.
Commenting on the letting agreement, David Gebbie, partner at agents Arisaig Property Partners LLP said: “We are obviously excited to welcome SEPA to Maxim Office Park, especially as it was the recent financial restructuring of Maxim that has allowed both parties to achieve a leasing deal that previously couldn’t have been achieved.”
Posted in Lanarkshire |
Tagged Business Parks, Rental Prices, Speculative Developments |
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Posted on July 27, 2011 by John Cronin
Plans for a controversial, multi-million pound office scheme in Cheltenham have been given the go-ahead at a recent council meeting.
Consent has been given (planning application) for the mixed-use Honeybourne Place (pictured) scheme in Jessop Avenue despite the proposed building being called a “monstrosity” by local campaigners.
Commercial property developers Formal Investments are behind the £10m scheme. The 6-storey building will offer 75,000 sq ft of floor space of which approximately 37,000 sq ft will be dedicated for office use. The building will also include residential, retail and leisure space.
Formal Investments has announced that a pre-let agreement for around 50% of the office space has already been secured. Steinhoff International, whose UK brands include Harvey’s, Bensons For Beds, Relyon and Sleepmaster has agreed to the pre-let. The company already has plans to relocate to Festival House, another Cheltenham office scheme in Jessop Avenue owned by Formal Investments.
Some local residents groups have opposed the proposed development. Dr Richard Hayman, Cheltenham General Hospital, speaking at the committee meeting on behalf of the St George’s Road residents said: “Anyone with vision can see that this will be the 2011 equivalent of the 1960 monstrosities that continue to blight our townscape.”
However, Nicholas King, Formal Investments, describes the development as (pdf link): “a major investment for Cheltenham … An investment of this size also represents a significant vote of confidence for the town and the local economy”.
The building is to be constructed on land currently used as a private car park. The glass-fronted building, which will incorporate a range of sustainable energy features, is expected to achieve a BREEAM rating of ‘ Excellent’.
Architects for the scheme are Roberts Limbrick. Marketing agents are Nick Bevan Consulting.
Posted in Gloucestershire |
Tagged Planning, Speculative Developments |
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Posted on July 25, 2011 by John Cronin
An eco-friendly refurbishment of a 1950’s office block in Bloomsbury, London has now been completed.
Emrys Architects has announced the completion of the complete refurbishment of Conquest House (pictured – website). The speculative scheme offers 22,500 sq ft of prime office accommodation over 6 remodelled floors and is being marketed as suitable for headquarters occupation.
Property developer GMS Estates started the refurbishment works in June 2010 and suggest that it will be the only new scheme in WC1 to complete in 2011. The original building was considered as being tired, outdated and unable to offer appealing, modern office accommodation.
GMS believe that the conservation area of Bloomsbury is a Midtown offices sub-market that offers opportunities for strong capital growth. Rental prices in the Midtown area have risen by 18% in the last 12 months.
The refurbishment works at Conquest House have included a range of sustainable and low-energy features including rain-water harvesting, chilled-beam cooling and solar-powered hot water heating. The building has achieved a BREEAM rating of ‘Very Good’. Commenting on the sustainability features of the building Glyn Emrys of Emrys Architects said: “…it’s particularly gratifying that environmental performance is fast becoming a key priority across the commercial rental sector”.
The offices have been designed for either whole-building or multi-tenant occupancy on a floor-by-floor basis. Floor plates range from 3,175 sq ft to 3,972 sq ft. A new rear atrium links the ground and lower-ground floors. There is a private garden and external terraces. Rental prices have not been disclosed.
The building is currently under-offer. Marketing agent for the scheme is Farebrother.
Posted in London |
Tagged Renovations, Speculative Developments |
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