Posted on November 23, 2010 by John Cronin
A serviced offices company has signed up for two floors of a premium office building in the centre of Glasgow.
Serviced offices provider i2 Office, a relatively new company to the market, has agreed to let floors 1 and 2 in the 2 West Regent Street office scheme in Glasgow. The company has signed a 15 year lease for just under 16,000 sq ft of floor space. Market reports suggest that the agreed rental price comes in at £24.30 / sq ft.
This deal marks the first letting within the £17m speculative build that was completed in 2009 and officially opened by former Secretary of State for Scotland, Rt. Hon Jim Murphy. Indicative rental prices published by the developers in December were in the range £23.50 – £25 / sq ft depending upon length of lease.
2 West Regent Street (pictured) offers total floor space of 77,850 sq ft over 10 floors within the scheme. The largest, available floor plates are 8,450 sq ft on the 3rd, 4th and 5th floors. The building offers Grade A rated, flexible floor space within a building that has a BREEAM rating of ‘Very Good’.
The new office block replaces the former Standard Life House, a well-known Glasgow landmark building that was demolished in 2008 to make way for the current scheme.
The developers behind the scheme are City Estates plc who also have other office schemes in Glasgow at Bothwell Street and St Vincent Street. The company also has office and retail space in Kirkcaldy and London.
Agents for the scheme are DTZ and GVA Grimley.
Posted in Glasgow |
Tagged Rental Prices, Serviced Offices, Speculative Developments |
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Posted on November 22, 2010 by John Cronin
A large office block in County Durham that was once used by chemical conglomerate ICI is set to be demolished.
Billingham House (pictured – credit) is a large, multi-storey office building that was once the headquarters for chemicals company ICI. The building however has stood empty for over a decade and in recent years has been an easy target for arsonists and vandals.
The building, which was originally constructed in 1959, is owned by a company called Bizzy B Management Ltd. However, Stockton Council recently took control of the building after undertaking legal proceedings and are now hoping that the current owners will bring forward plans to redevelop the brownfield site.
A £400,000 grant has been secured from One North East, the Regional Development Agency, to help fund the demolition of the imposing office block. Director of Business and Industry, Ian Williams, said: “Billingham House was once a thriving office block at the heart of ICI’s Tees Valley operations, but sadly the last decade has seen it fall into disrepair.
Once cleared, Stockton Council aim to market the site as a potential new business hub for various process engineering, life-sciences and biotechnology businesses. Councillor Bob Cook said: “Securing the funding from One North East is welcome news and will help us work with the owners to bring the site back into use as a valuable asset for businesses and the local community.”
Plans submitted in 2007 to convert the offices into flats fell through. The site does has outline planning permission for an office development. Demolition work is expected to commence in early 2011 after the work is put out to tender.
Posted in County Durham |
Tagged Demolitions, Planning |
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Posted on November 19, 2010 by John Cronin
Construction of the first phase of new offices in a large Lancashire business park has been completed.
Riverside Business Park in Barrowford, Lancashire covers a 24-acre site and has planning consent for approximately 300,000 sq ft of office space along with a small hotel, pub and a nursery facility. The development, close to J15, M65 is a joint venture between property giant Peel and Barnfield Construction.
The first phase of the speculative development has been named Vantage Court and offers a total of 35,000 sq ft of floor space within self-contained office units varying between 1,500 sq ft and 4,000 sq ft each. There are 6 ‘high quality’ office buildings (pictured) in this phase of the scheme with EPOS systems provider PRS Ltd being the first signed-up tenant.
The developers believe the site as whole offers scope for larger office occupiers who are looking for bespoke headquarters-style buildings or call centres. A further nine business courts, each containing between one and five buildings, will be constructed within the business park.
Planning permission was originally granted for a business park to be developed on the greenfield site in 1993. This permission expired without any construction being undertaken and subsequently various proposals were declined before full planning permission was granted in 2008 for the current scheme.
Dennis Mendoros, Chairman of Pendle Vision commented: “We are thrilled about the investment opportunities and jobs the park will bring to the local economy. Barrowford is an affluent place to live and we feel the development will further compliment this perception, encouraging more people into the Borough”
Joint letting agents on the scheme are Trevor Dawson and Knight Frank.
Posted in Lancashire |
Tagged Business Parks, Peel Group, Speculative Developments |
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Posted on November 18, 2010 by John Cronin
A south west based commercial property consultants reports that demand for smaller footage office space in Cardiff is returning.
Alder King, who have seven offices across the south west, believe that they are a seeing a slow return of demand for offices with a floor space under 5,000 sq ft. The agents have recently secured two office lettings in Cardiff, both involving floor space of under 2,000 sq ft. Partner, Owen Young says: “Whilst businesses remain cautious about committing to premises over 5,000 sq ft, they are proving more willing to commit to smaller suites in established locations.”
The first of the two lettings secured is for a 1,659 sq ft office suite on the ground floor of Wilson House at Ashtree Court on Cardiff Gate Business Park. Music systems specialist Linn Centres Ltd have taken a five year lease at a base rate of £16,000 – equivalent to £9.65 / sq ft although the rent good rise as the letting has incentives.
Cardiff Gate is a large business park over a 100-acre site and offers a range of office buildings (typical building pictured). The park has a wide range of tenants including several international businesses such as Coca Cola and Lloyds Banking Group. Serviced office provider Regus also has a centre within the business park.
Some 500,000 sq ft of floor space within the park is now occupied. Approximately 70% of the available land has now been developed and further office blocks are being constructed. Work started earlier this year on a speculative 82,880 sq ft development with a first 20,000 sq ft phase scheduled for release next month.
In a second, smaller deal, Alder King have secured a 742 sq ft office suite letting within the Globe Centre in the centre of Cardiff on a five year lease at an annual rent of £6,000 – equivalent to approximately £8 / sq ft.
Posted in South Glamorgan |
Tagged Rental Prices, Serviced Offices, Speculative Developments |
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Posted on November 18, 2010 by Nell Frizzell
Watching the opening sequence of the Apprentice it’s hard not to bring to mind the Honey Monster, what with all these mentions of cereal entrepreneurs and Lords of Sugar. So, who are the Sugar Puffs and who are simply puffed up? Let the battle commence.
It’s 6am and the sun is rising over the exhaust fumes and extraction units of London. Oh the glamour. Lordy Lordy Sugarmordy is calling to order all his apprentices to Pinewood Studios. Hopefully this means he’s going to drown the whole guileless group in one of the James Bond shark tanks, or possibly lock them in one of the New York Warehouses.
“I have no idea what Pinewood is” admits Laura. “I’m pretty sure it’s a furniture store” counsels Sandeesh. This show really is a case of the bog-eyed leading the offensively thick.
An aerial camera zooms in on the ‘enormous bluescreen’ used in ‘blockbuster movies’. Which, it turns out, just looks like a big blue wall, however you try to jazz up the angles. If this is all Lord Sugarrush wanted he could have just nipped over to Hackney to stand around in front of the Olympic fence.
And so, like Oddjob himself, Lord Sugar drives up to his quivering young entrepreneurs in a shining black Bentley and vaguely ill-fitting suit. According to his following speech, this blue screen could ‘transport’ the apprentices to ‘anywhere in the world’. Oooh, you mean like a real job? Or an actual job interview? Run my children, run!
Their task, should they choose to accept it (and Christ knows why they still are) is to “sell the big screen experience to the general public.” In “London’s biggest shopping centre.” So, they’ll be looking after a telly in Westfield, basically. You can almost hear the chuckles rolling over from Currys and PC World. It appears that the apprentices will be showing hapless shoppers just what it would look like if, instead of popping out to buy some stomach-control pants and some in-soles, they were in fact flying to the moon or sailing a boat. So, reminding them just how comparatively pitiful a shopping trip to Westfield really is.
After the customary shake up of the teams (figurative, rather than physical, sadly) Stella and Joanna move over to Apollo to be lead by Stuart ‘A Face Even A Mother Can’t Love’ Baggs, while Sandeesh takes the reins of Synergy. And so they start thinking about how best to “sell the general public the chance to star in their own movie.” You know, if they’re too technically inefficient to make an honest-to-goodness sex tape like the rest of us.
“Yeah I’ll work in the ranks if I have to but only to get to the top. I don’t sit anywhere but the top.” honks Stuart ‘The Brand’ Boggs. What about when you’re on the toilet Stuart? Surely you don’t stand to deliver?
On the other team, recruitment consultant Sandeesh is trying to book the aquarium. Or is it motorbike? Oh well, it doesn’t really matter, as long as they take their cue from trigger-fingered snipers across the world and “Get ready and shoot one of their own.”
Apparently naan-faced Stuart wants to attract the ‘affluent’ people of Westfield with motor racing. Has this man never been to Westfield? We’re talking about the home of discount support tights and meal deals, for Chrissakes. “Stuart’s leadership style leaves me trembling with irritation,” admits Nick! That’s not irritation Nick. It’s lust. Believe me.
“I have to reign in my extreme masculinity in this task,” blurts out Stuart. “I absolutely live adrenaline and for me, if my heart’s not racing, why be alive? I mean, why be boring? That’s for everyone else to do.” This man has been inorganically constructed from Ricky Gervais’ belly button fluff and the mould in Richard Branson’s fridge. I am quite sure of it.
On the other team, Marine Christopher and Hollyoaks Jamie are indoor skiing in Milton Keynes. Indoor. Skiing. Milton Keynes. Think ‘doing the lambada in the fourth circle of hell’ and you’re nearly there. They even put Jamie in a Pingu penguin outfit just in case he wasn’t feeling depressed enough.
Apollo’s Stuart decides to market to children. “I feel so much more comfortable now we’re all going for kids.” Someone give this guy a CRB check, and fast.
Sandeesh, meanwhile, wants Jamie to do the leg work running between front and back of the production. What does he think to that? “I think I’ll be wasted.” Well, at least he’s honest about his drink problem. To be fair, a tipple sounds rather appealing to me right now.
“No arse covering. I hate that as a practice. Clearly defined roles. Happy days,” farts Stuart out of his big, fleshy face. Oh dear. Stuart ate Jamie Oliver.
Down on the shop floor (well, under a staircase in a starkly-lit shopping centre) Joanna and her sales team are shovelling driving DVDs like candy to a baby. Those minors must really love Grand Theft Auto.
Sadly, things aren’t going so well for Sandeesh’s team. So, like all good sales people, they cut their prices. Still, the idea of spending £8 on a craply shot DVD of my joy riding toddler somewhat boggles the mind.
By 8pm, the show is over. Which can mean only one thing – it’s time to look tense in a boardroom antechamber. Which they all do most professionally.
Lord of the Borings wants to talk figures. Apollo made £347.50, spent £85 and so walk away with a profit of £262.50. Synergy made £372.97, spent £150, which leaves a profit of just £222.97. Somehow, in the midst of his gorilla-like arse scratching stupidity, facile and offensive blustering and obscenely inadequate leadership, Stuart ‘the Jo Brand’ Baggs has managed not to lose. So, him and his team head off to a champagne tasting masterclass, which is rather wasted on the chumped-up little squit who barks “It’s like drinking anti-freeze!” after every sip.
Meanwhile, in the losing team, Liz is feeling gutted next to a squeezy brown sauce. Is there anything sadder than a glum condiment?
However, even in the boardroom the team barely manage to muster up a good ding dong. Instead, they simply admit guilt and show remorse. Come on guys! You’re here to rip each others’ throats out and beg for mercy! This is a gladiator fight, not a self help group.
The firing line is between Chris, Liz and Sandeesh. So, between Blue, Bambi and Bulbous.
It’s the fourth time that Sandeesh has been in the final three and the third time that Christopher has been on the losing team. Let me hear you spell f-a-i-l!
“Regretfully someone is going today.” I’m so glad to see that Lord Sugarmort has finally picked up the rules of this whole business pantomime. The team give him almost no backchat. Which, of course, drives Alan up the wall. So, he fires Sandeesh. Well, you know what they say, ‘there’s no googly eye in team’.
Conclusion: When ‘reality television’ starts selling ‘virtual reality’, it’s time to give yourself a reality check.
Missed an episode? Catch up with all the posts in our Apprentice Blog series.
Posted in Misc |
Tagged Apprentice Blog |
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Posted on November 17, 2010 by Rob Powell
The boss of developers British Land has expressed his disappointment at the moniker given to one of his forthcoming developments.
The 47 storey development, designed by Rogers Stirk Harbour and Partners, at 122 Leadenhall Street has been nicknamed and widely referred to as “The Cheesegrater“.
But Chris Grigg, Chief Executive of British Land is quoted in the Daily Mail as saying: “We’re not massive fans. We think it will be a stunning piece of British architecture, so to call it a “Cheesegrater” is very disappointing.”
BL refers to the development simply as “The Leadenhall Building”. The shell and core of the building is expected to be completed by the summer of 2014.
Posted in London |
Tagged Cheesegrater |
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Posted on November 17, 2010 by John Cronin
An under-construction, speculative office building in the centre of Belfast is expected to be available for tenants early in 2011.
Hamilton House (artists impression pictured) is a new 4-storey building being constructed in Joy Street which is part of the Linen Conservation Area of Belfast. The new offices are being built in between two significant listed buildings and uses materials that create an exterior that is sympathetic to the area.
The building occupies a prominent position in Belfast’s prime business district, in close proximity to the Law Courts, landmark retail developments and is less than 100m from Belfast City Hall.
When completed the building will offer high grade office floor space in a building that has been designed with a specific emphasis on energy performance. The building will have a low carbon central air conditioning system which will provide conditioned air to all lettable areas, offering running costs two-thirds lower than that of a conventional heating system.
The building will provide office units from 2,500 sq ft to 9,200 sq ft with a high internal specification. The largest floor plate is 3,525 sq ft on the third floor of the building. However, Hamilton Architects who are behind the scheme have decided to take the majority of floor space on the top two floors having outgrown their existing offices.
Marketing agents for the development are RHM Commercial who suggest the speculative build will be a success. Quoted by associate architectural practice Kriterion, Ciaran Hughes of RHM said: ” We believe the client is offering a quality [office building] which will ‘tick the boxes’ for prospective occupiers in terms of location, specification and aesthetics.”
Construction work is expected to be completed on schedule by February, 2011.
Posted in Belfast |
Tagged Speculative Developments |
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Posted on November 16, 2010 by John Cronin
The first, pilot phase of a new business hub for the creative industry in Liverpool has been completed.
An area within the centre of Liverpool opposite the Albert Dock, known as the Baltic Triangle (pictured), is being promoted as a new business hub for local companies working primarily within the creative and digital industry. Approximately 9,000 sq ft of new office space within three buildings is now being offered to prospective tenants.
The scheme is being run by a Community Interest Company (CIC) and is a not-for-profit venture. Financial backing amounting to £5.2m has been given by the NWDA. There are also proposals for a £2m spend on road improvements and public realm works in order to create better links between the new offices and other commercial areas of the city centre.
Development of the initial £600,000 phase began in May, 2010 and includes both studio and office space along with offices for the centre itself that will offer on-site support services. Office space is available in a range of sizes including “Mezzanine / creative units” at 750 sq ft and “creative units” with the smaller units being more suited to office space at around 500 sq ft and larger units offering up to 1,600 sq ft of floor space.
Subsequent phases of development will create studios and offices of various sizes. It is expected that when complete the business hub will offer approximately 45,000 sq ft of flexible floor space within a maximum of 18 low-rise units.
Cllr Malcolm Kennedy, executive member for regeneration at Liverpool City Council, who opened the first phase, told Liverpool Vision: “The creative, digital and IT sectors employ around 25,000 people in the Liverpool city region and generate millions for the economy. Having a dedicated business hub for the creative industries in the heart of the city will encourage further investment and growth.”
Posted in Merseyside |
Tagged Renovations, Serviced Offices, Speculative Developments |
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Posted on November 15, 2010 by John Cronin
A former factory in Durham on the site of a planned mixed-use scheme is now being demolished.
Unwanted buildings that were once part of a Black & Decker tools factory are now being demolished to make way for the £200m Durham Gate (also known as DurhamGate) development in Spennymoor, County Durham. The 60 acre brownfield site is being redeveloped as a mixed-use scheme (pictured) that will include approximately 440,000 sq ft of energy-efficient, high quality office space. The scheme is a joint venture between Carillion Development and Hartlepool property investor Arlington Financial.
The backers are offering either buy or lease-only deals on a selection of proposed buildings offering a range of floor spaces from 15,000 sq ft up to 100,000 sq ft. Land sale opportunities also exist for organisations looking to build their own offices within the development.
One deal has already been secured with Sedgefield Borough Homes, a leading social housing provider, agreeing to relocate around 170 staff to new office accommodation within the scheme. Their new, purpose-built headquarters are expected to be completed by the end of 2011.
The local Spennymore News website reports that planning permission for the scheme was granted in March 2009. Allan Cook, director at Arlington said at that time: “I am very excited that we can now move on with seeing our initial vision for the site as a regional business location become a reality”.
The current demolition works are scheduled for completion by the end of the year. Progress of the development is also being made public on twitter.
Posted in County Durham |
Tagged Speculative Developments |
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Posted on November 13, 2010 by Rob Powell
A high profile protest by students this week has caused disruption to businesses and organisations at an office block in London.
Angry students targeted offices at 30 Millbank because it is the Conservative Party’s headquarters but neighbouring tenants are still feeling the effects of the protest.
The Charity Commission, based on the first floor of the building have posted a message on their website saying:
“Due to damage at the Commission’s London office at 30 Millbank following demonstrations, the London office will remain closed to staff and visitors. We anticipate re-opening the office on Tuesday 16th November at 10:00.”
Other organisations that share the building include Cox & Kings travel consultants, Tata Steel, EPR Architects, outsourcing company Liberata and Encore Hospitality.
Protestors angry at plans to increase the cap on university tuition fees to £9,000 stormed the building, smashing windows and damaging property in the process.
A group gained access to the roof of the seven-storey building and a fire extinguisher was thrown to the ground – an act which is now the subject of a police investigation.
The National Union of Students issued a statement thanking the students who turned up to demonstrate but said said they “were deeply disappointed at the actions of a small minority of those 50,000 people who attended.”
Posted in London |
Tagged Millbank |
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