Posted on October 21, 2010 by Nell Frizzell
It’s 6.30 am and the contestants have been summoned to Piccadilly’s Fortnum and Mason. Tea? Marmalade? Biscuit-building with the royal son and heir? “Speaking hampers. That’s probably the thing to do,” honks Stuart. Oh Stuart ‘the brand’ Baggs, sometimes you just make it too easy.
Once in Piccadilly the ambitious Apprentices-to-be assemble among the nipple-like cup cakes and prostate-shaped doughnuts to get their marching orders. The crew are smart and soberly turned out, apart from Mel who has yet again come dressed as a thigh-slapping pantomime page boy with hair like a peroxide Mr Whippy.
“This is turning flour in to serious dough,” quips his royal Pugface. Where does this guy get his material? So, it’s another food challenge, but this time they’ll have to make and sell as many baked good as possible. They knead profits. They’ll have to rise to the occasion. Gluttony just got gluten-y.
In a laughable attempt to stop the ‘arguing and cackling’, the teams are ‘mixed up’. Well, mixed up in the sense that Synergy becomes full of all the loud-mouth, cliché-spouting numbchucks (Peroxide Mel, Cleaner Joanna, Maverick Alex, Hollyoaks Jamie), while Apollo is entirely made up of people you hadn’t really noticed were really in the show (Paloma? Chris? Sandeesh?)
Apollo is to be led by surgeon Shibby. The self-proclaimed “business virgin” suddenly loses his cool over the prospect of popping his business cherry, declaring; “I’ll smack your bums if I have to.” Ahem.
Synergy’s expert team leader Mel – a food distribution manager in her previous incarnation – fails to come up with a single bestselling bakery suggestion, choosing to instead chew her pen and stare wildly in to the faces around her. Luckily a colleague comes to her rescue with the unlikely mayday call of, “It sounds like you’re vying for bagels.” Whatever that means.
By 10am half of each team heads off to the infamous London Bread and Cake Factory to go wild in the floured aisles. To wake up to bake up. To get ahead with bread. The others head to the pitches set up by their very own knight of the realm.
Hollyoaks Jamie wants to “go through a quick role play,” in the back of a taxi, which turns out to be far less exciting than it sounds. This isn’t the stuff of wicked princes and naughty parlour maids, or even police officers and Shibby’s smacked bottoms. No. Hollyoaks wants to talk croissants; specifically how much 300 will cost. Unfortunately, this is the kind of dazzling maths that has Melissa totally confounded.
At the Park Plaza hotel, Synergy are met by the worst Village People tribute band we’ve ever seen. You’ve got the businessman, the chef and… well, another business man. No matter; Maverick Alex is on hand to talk artisan breads.
So, what can they do with an order for 1,000 bread rolls? “We can do many things,” replies Melissa enigmatically. ‘Many things’ turns out to be sitting at the table frantically punching at the calculator like late-period Keith Moon, while the rest of the team shift uncomfortably in their ready-to-wear suits. After fifteen minutes of fevered sums the team are called back in to quote a best price bread roll at £1.82 per unit. £1.82? Are these rolls cast in gold?
Just to put it into perspective, team Apollo quote 6p per unit. As opposed to £1.82. That’s a saving of, oooh, about a millon per cent. Apollo win the pitch, so now they just have to break it to their makers in the factory, with ‘break’ being the operative word. It’s an order so excessive, with such little notice that it would provoke any normal factory into taking up Marxism. Sadly, so far, only Sandeesh has raised the red flag and is going on a one-woman go slow.
Meanwhile, Team Synergy’s factory-workers are getting a little restless. Poor Stuart has resorted to wearing as many hats as possible to stave off the boredom. Seriously, it’s like the spirit of Carmen Miranda has been reborn in the body of a shiny-faced, bread-making bullshit machine from the Isle of Man.
Apollo are having quite the opposite problem – so snowed under are they with garish purple muffins and oily croissants that Shibby has to turn down another 1,000 unit order from a major restaurant. Well, you know what they say; you’ve got to eradicate to accumulate. Or is it defecate to accumulate?
Taking one for the Apollo team is Chris Bates, who is forced to parade around Covent Garden dressed as an oven. Shibby – a man who, lest we forget, is a trained surgeon – crows the infamous line; “I’m sorry madam, you’ve just walked in to the muffin zone.” We’re all going to hell in a bread basket.
As selling-time comes to a close most of the contenders are to be found arm-in-arm jumping up and down in celebration. Apart from poor cooker costume Chris, who looks like he’s just found out his pet dog’s been made in to a meat Frisbee.
With their suitcases packed and their faces set to Nervous Anticipation, the Apprentices-to-be head to Sugar HQ in yet another fleet of taxis. The tension is, well, palpable.
Shibby’s Angels have lost the task, so will the surgeon have to take a long walk off a short plank? Or is it goodbye from Paloma? Will Sandeesh get the chop?
Surprisingly, it’s surgeon Shibby who gets his marching orders. Apparently, Sandeesh’s total lack of effort and Arthur Scargill-like approach to factory life was what Lord Sugar was looking for all along. Who knew?
Conclusion: If you’re serious about making dough, it’ll take more than yeast to rise to the challenge.
Posted in Misc |
Tagged Apprentice Blog |
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Posted on October 20, 2010 by John Cronin
Plans have been submitted for a new office scheme on one of the final undeveloped bomb sites in the centre of Nottingham.
Developers Studon Holdings, a Leicester-based investment firm, have submitted plans for a new office building on the empty site next to 54-56 High Pavement in the prestigious Lace Market area of Nottingham. The Lace Market district is a local conservation area in the city that is dominated by expensive apartments and bespoke commercial offices. The area suffered from heavy bombing during World War II.
The scheme involves the refurbishment of existing offices along with the development of the vacant site adjacent to 9-11 Shorthill that will in total provide 104,549 sq ft of gross floor space. No’s 54-56 High Pavement are currently in commercial, serviced office use, though accommodating a significant element of vacant floor space, whilst premises at 9-12 Short Hill, formerly in commercial/industrial use, are now vacant. Some of the existing buildings involved in the scheme are listed and as the site is also of archaeological importance planning approval is not certain. Studon Holdings have previously submitted plans for the site to be redeveloped as a residential scheme. The full planning documentation for the new office block is available here.
Architects for the scheme are Re-format and they have proposed a design whereby a podium is created and the bulk of the buildings are then mounted on it in visually distinct elements complete with floor to ceiling glazing overlooking London Road (pictured). Inside the scheme will be a new urban courtyard, something seen in many of the other buildings already in the area, with a glazed atrium adjoining it. The scheme includes underground parking for 79 cars.
The proposed scheme has received mixed reviews from locals. Some describe the offices as being “yet another box disaster” while others have said “I really like the look of this development. The High Pavement frontage is in keeping with the other buildings but with a modern and contemporary look. I love the glazed boxes facing the BBC Island.”
Rental prices for the speculative development have not yet been published.
A decision from the planning committee is expected in the near future.
Posted in Nottinghamshire |
Tagged Listed Buildings, Planning, Serviced Offices, Speculative Developments |
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Posted on October 19, 2010 by John Cronin
A new joint venture announced this morning marks the start of the construction a significant office tower in heart of the City of London.
Land Securities and Canary Wharf Group have announced today that they have formed the 20 Fenchurch Street Limited Partnership (the Partnership), a 50:50 joint venture partnership to develop 20 Fenchurch Street, EC3.
The existing property, currently a cleared site with some ancillary retail neighbouring holdings, has been sold by Land Securities to the new partnership at a price of £90.2 million.
Planning consent for the proposed 37 storey building was granted in October 2009. It will provide approximately 690,000 sq ft of world class space in floor plate sizes of 14,000 sq ft to 28,000 sq ft with a skygarden on the top three floors. It is suggested that the skygarden (pictured) will be open to the public and will be the highest public park in London. Following criticism about the height and impact on the views of St Pauls Cathedral the original design has been reduced from 45 to 36 above-ground floors. 
The proposed office block has been given the nickname of Walkie Talkie due to the distinctive, top-heavy design of the structure. The tower has been designed by the Uruguayan born architect Rafael Viñoly. The upper floors of the tower will offer more spacious floor plates than those lower down the structure along with far reaching views of London. The offices will have a BREEAM rating of ‘Very Good’ and will be marketed as premium Grade A.
The Partnership will construct the project under a staged programme at an anticipated total development cost of £500m. To enable a condensed programme, construction of the substructure of the building and detailed design of the superstructure is to start immediately. Completion to the ground floor level is planned for February 2012. Construction of the superstructure will follow, with completion of the project anticipated in the second quarter of 2014.
George Iacobescu, Chief Executive Officer of Canary Wharf Group, said: “We are looking forward to this opportunity to apply our extensive experience as a developer of large, high specification and bespoke office buildings for a diverse range of clients. We are also delighted that on this occasion we will be working alongside Land Securities with its own impressive pedigree and track record. This joint venture project will provide further evidence of our approach to the development and construction of very high quality buildings in London.”
Indicative rental prices have not been published. Commercial agents Knight Frank have recently published a report estimating a rise in rental prices for floor space inside the Square Mile are set to rise by 37% to £58 / sq ft by the end of 2012.
Posted in London |
Tagged Canary Wharf Group, Rental Prices, Speculative Developments |
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Posted on October 18, 2010 by John Cronin
Brighton and Hove City Council has served a revised enforcement notice to a company that owns a derelict office block in the city.
The council is attempting to keep up the pressure on the owners of the notorious Anston House, a former office block with adjacent empty land that is now considered as being a serious eyesore in the city (image source).
In July the council served a section 215 enforcement notice on those with interest in the land to clear up the site. The owners appealed against the notice but the council persuaded them back to the table and negotiated revised conditions without the need for court action. The new, revised notice gives the owners 18 months to carry out all the improvements and imposes a new condition that vegetation must be cut back every three months.
Anston House is located in London Road on what is considered a strategically important 0.6 hectare site at the gateway to the centre of Brighton. The 9 storey, 1960’s office block and adjacent overgrown site was sold for £10.5m in May 2007 to Bridgetown Properties Ltd. The previous owner of the site had submitted 60 planning applications but none of them came to fruition. Redeveloped, the office block could offer a significant amount of office floor space. However, the office building remains empty and in a sorry state of repair.
The current owners have been previously fined a total of £30,000 with costs of £4,000 for five breaches of tree preservation orders. Bridgetown Properties was fined £5,000 per tree – a total of £25,000. Mr Harding (company director) was personally fined £1,000 per tree – a total of £5,000. Both parties were ordered to pay £2,000 costs. Mr Harding filed for bankruptcy three days before sentencing was due and therefore the judge had to take into consideration Mr Harding’s financial circumstances when determining the amount of fine to be imposed.
The neglected site has received a great deal of attention from local residents and local community bloggers. The publisher of the Prestonville community news site presented a petition to the council, signed by approximately 600 residents, which eventually resulted in the prosecution for the illegal tree felling. Another local news site called News From Brighton is also monitoring events at the empty office block that was last used in 1987 by a utilities company.
In the latest enforcement notice the council requires the owners to “repair or replace all broken windows on the office building” and “remove all graffiti from the exterior of the building”.
Posted in East Sussex |
Tagged Planning, Renovations |
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Posted on October 15, 2010 by John Cronin
The chequered construction history of a new Birmingham building has finally drawn to a close as the contractors complete the build.
The Cube is a 23 storey, mixed-use scheme in the centre of Birmingham. Construction work on the £100m scheme has just finished and the building now completes the final phase of Birmingham’s successful Mailbox development.
The main backers of the project, Birmingham Development Company and Build Ability Ltd both went into administration earlier this year. With the project almost 80% complete, administrators managed to arrange a new funding package to keep the project on track and ensure completion.
Construction work on the build has stop-started due not only to the financial difficulties of the backers; some workers had to down-tools for 3 weeks while a Canada goose nested in the building and waited for her newly laid eggs to hatch.
The Cube was designed by architect Ken Shuttleworth who is renowned for the London “gherkin”. He described his Cube creation as an “enchanting jewellery box”, but others have not been quite so complimentary about the new building that is visible from many parts of the city. Whilst the developers were sympathetic to superstition by not having a floor numbered 13, they could not avoid having 666 glass panels in the roof of the building. The building is also receiving press attention for its unique, German designed, robotic car parking system, allowing cars to be parked automatically.
The building affords Grade A office floor space totalling some 111,500 sq ft. The offices in the building, which are spread over 5 floors are expected to receive a BREEAM ‘Excellent’ rating, and has also achieved an EPC rating of B. Suites with floor plates between 10,000 to 52,000 sq ft are available and are being marketed by agents DTZ. Rental prices are available upon application. The Birmingham Office Market Forum (website) research reports published earlier this year indicates headline rents on prime office space in Birmingham are in a range of £23.00- £28.00 psf. As offices within The Cube are being promoted as state-of-the-art, rental prices are expected to be at the top-end of the market.
The Highways Agency are a significant tenant within the building after relocating from Broadway Plaza at nearby Five Ways. Starting the relocation in May of this year, the move was completed on 13th September. The Highways Agency has let some 55,939 sq ft of the floor space. When announced this relocation drew criticism from various quarters including the Tax Payers Alliance. Grahame Dalton, chief executive of the Highways Agency defended the move by saying:
“It is increasingly important that as a Government agency we work in modern, high quality, sustainable office space which supports our people and provides them with the best tools for the job. We need space that allows people to work as efficiently and effectively as possible. With this in mind, The Cube offers us ideal accommodation for high performing teams at a competitive price.”
Posted in West Midlands |
Tagged Public Sector, Rental Prices, Speculative Developments |
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Posted on October 14, 2010 by John Cronin
Plans for competing city centre office blocks in Swindon have started an argument between the rival developers.
Property development company McAleer and Rushe have shelved their existing plans for an apartment block next to the Jurys Inn Hotel in Fleming Way, Swindon due to the lack of demand for city centre, residential property. Instead they have now submitted plans for a large office block to be built on the site. McAleer and Rushe now plan to construct a 7 storey office block on the land.
But objections to the new plans have been lodged by Muse, the developer chosen by Swindon Council to construct the large urban redevelopment project named Union Square (artists impression). Forward Swindon (formerly New Swindon Company) an economic development company for the city have published the objectives of their Union Square proposals on their website.
Occupying the land between Fleming Way and the railway station, including the former police station station site, Union Square is planned as being a large, mixed-use development. Along with retail outlets, homes and new public transport facilities Union Square will offer 550,000 sq ft of office space.
Muse and their consulting partners GVA Grimley have both submitted letters of objection to the McAleer and Rushe plans. Their reasons for opposing the plans include:
1.The site is a significant distance from the railway station and not within the prime office core;
2. The current application will severely impact upon the delivery of an office-based scheme at Union Square;
3. By permitting office use at the Jury’s site, it will prejudice the development of Office Use at Union Square, which is a significant issue to support refusal of the application;
4. Changes in Government legislation regarding payment of commercial rates, developers and investors less willing to speculatively develop office buildings due to the increased holding costs of void properties, meaning that very little development will be seen in Swindon Town Centre without pre-let agreements in place.
Arguments for the proposed development put forward by Knight Frank & Alder King, acting on behalf of Muse Developments include:
1. The wider the choice, the more chance Swindon has of landing deals within its central office core and of creating the critical mass required to create a dynamic office market;
2. Currently limited good quality office stock in Swindon. Station Square is the only high quality office building capable of being occupied in the immediate future, however it is not brand new and will not suit all enquiries;
3. The scheme can be delivered relatively quickly in comparison to office development at Union Square.
The complete set of planning documentation submitted by Muse Developments can be found in .pdf format here.
The recommendation made by the committee is that The Director of Planning and Transport be authorised to GRANT Planning Permission subject to various, specified conditions. If by the 30th December 2010 the outstanding issues have not been satisfactorily resolved the application may be refused.
The committee concludes:
“Any refusal of this application on the basis that it would prevent the future deliverability of other schemes would be very difficult to defend at appeal, primarily as currently there are no alternatives capable of being delivered within a short time frame.”
Posted in Wiltshire |
Tagged Planning, Speculative Developments |
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Posted on October 14, 2010 by Nell Frizzell
“We are in tough economic times,” nasals Lord Sugar, accompanied by the thundering strains of Prokofiev’s Romeo and Juliet. This, however, is the tale of star cross’d apprentices, not lovers, and the houses Synergy and Apollo are at war. Luckily ‘Britain’s most belligerent boss’ is on hand to make them “work as a team, but shine as individuals.” Shine his massive forehead, one assumes.
The episode begins with a 5.30am phone call ordering the contestants to Heathrow. Is this an annual holiday to Sugar’s evil Thunderbird Island, where puppets from previous episodes churn out twelve tonne Amstrad 200 Dominateurs with keyboards the size of surfboards and screens that glow black? Sadly not.
The teams are met by Nick, Karen and a ‘live’ video link-up of Lord Sugar, who has mistaken the morning talk for an acceptance speech at the Grammies. “Beach holidays are big business whether you’re going to Bermuda or Bognor,” says Alan’s floating 2D face. So the task is to create a new beach accessory. Stuart ‘the brand’ Baggs watches the disembodied call to arms with an expression some way between that of a bull dog and a naan.
Following the loss of Dan, banker Stella English is sent over to the boys’ team to ‘keep them in check’, while Laura Moore leads the women. Despite being the youngest of the females, Laura is seriously committed to two things; making money and wearing polonecks. And with half a million pounds of business and one hell of a white rollneck tucked in under her belt, who are we to argue?
Faced with the oyster that is the world of holiday product design, back-slapping Shibby Robati has the electric idea of creating a ‘really long hand’ to apply suncream to his own back. It’s a bold notion that takes on Darwin himself, but unaccountably it falls as flat as well-ironed stingray. Meanwhile the Hollyoaks dream team of Jamie Lester and Christopher Farrell have the epiphany of a blow up towel that keeps your drink cold. Maverick Alex instantly declares that he would ‘buy Jamie’s towel right now.’ Whether he’s referring to the imagined beach product or the towel recently used to dry Jamie’s nadgers is unclear. Still, it’s always nice to have a fan.
On their way to Bognor the boys propose marketing a ‘coolie’. Far be it from me to point out the niggling problem of modern labour laws but a poorly-dressed, underpaid manual labourer seems an unlikely accessory for holiday makers to pick up in Tie Rack. Luckily, this is coolie spelled with a double ü, making it something else entirely.
In true holiday spirit the girls are arguing over chairs, towels, books and bumbags. Joanna Riley plugs away for so long at the idea of a book stand that project manager Laura finally makes the bold decision to give in.
It’s day two and the prototypes arrive. The Book-eeze is outstandingly uneezey to assemble, coming as it does in eight separate parts. These eight parts join together to create a stand that, when finally constructed, dangles the book, face down, three inches above the ground. Perfect for a hamster with aspirations towards literature, but something of a letdown for the rest of us. The Cüüli, on the other hand, is a towel with an inflatable headrest.
Now for the pitching. Stella sticks with “drab and monotone” Chris while ‘battering bulldog’ Melissa pitches that her product is “built in to our end user”. Which makes it sound uncomfortably like a catheter.
The products are pitched to Boots, World Duty Free (like Call of Duty, but with slightly more perfume) and some people called Kit to Fit. The boys declare that “the age of the beach towel is ultimately dead”, while the girls schlep around town with their very own box of lucky sand. The pitching is patchy, to say the least.
Once back in the boardroom for the firing finale Lord Sugar declares the Cüüli a ‘Swiss army towel’ and the Apollo team back away from the Book-eeze like a shit in a lift. The men ultimately managed to drum up 100 orders; the women a big fat zero. So, it’s victory for Synergy and the firing line for Laura and her team.
Apparently, Sugar is not looking for the person who can shout loudest, which is a shame as most of the women appear to competing for the title. Instead, he takes all the Joy out of the competition by firing John Lennon-alike Joy Stefanicki. It’s alright though, because she’s sick of all the shrieking anyway. Her and me both.
Conclusion: Too much sun makes a desert and too much sand makes for gritty knickers.
Quotes of the episode:
“This is like watching a bunch of amateurs”
“We have to beat those girlies”
“Take one for the team”
“I’m like a bottle of champagne. If I can’t open my mouth then I’ll just explode.”
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Tagged Apprentice Blog |
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Posted on October 13, 2010 by John Cronin
Property developer Argent and Manchester City Council have now officially launched one of the most eco-friendly office buildings in the country.
Located in the Northern Quarter district of Manchester, The Hive (pictured) is a 6 storey office complex offering flexible floor space over a total area of 80,000 sq ft. Described by the developers as being “cutting edge”, it is suggested that the building is one of most energy-efficient, new office developments in the UK.
The developers have incorporated ‘low flow’ fixtures and fittings, self-closing taps and leak detection facilities along with energy-efficient lighting and heating systems. All floors in the building have been designed to be passively ventilated with openable windows for cross ventilation, assisted by louvres on motorised dampers to provide secure night time cooling. The Hive is also designed to help the local ecology with a collection of sedum roof gardens. Floor plates on the fourth floor lead out to large, but private balconies overlooking these gardens. State-of-the-art recycling and environmental waste management facilities have also been incorporated into the development. The building has been graded as BREEAM “Excellent” and has an EPC rating of B.
Oliver Butler, project manager at Argent, said: “We are very pleased to have launched The Hive with such a fantastic opening event. The building is now 40% let, with The Studio and the Arts Council England having already moved in.” Events management company The Studio has agreed to lease 10,000 sq ft and Arts Council England has leased 20,000 sq ft and moved into The Hive in March of this year.
Designed by architects HKR, The Hive is located in Lever Street, Stevenson Square. The multi-million pound, speculative development offers Grade A floor space within a striking building that co-exists with several listed buildings that offer mixed-use space. Traditionally the area was the main textile district and whilst Stevenson Square remains the main centre for the fashion industry office space is typically now leased by companies in the creative, design and media industries. The Manchester City Council Strategic Plan (2008-2012) identified the district as having a crucial role as a destination for new activities, especially in meeting the needs of the media-related sector.
Offices in The Hive are available on a variety of tenures and in a variety of sizes, from 15,000 sq ft floor plates to 750 sq ft suites. A typical open plan layout can accommodate one person per 7 sq metres, whilst more spacious floor plans could accommodate one person per 10 sq metres. The floors and ceilings in the non-communal areas have been left as bare concrete in order for tenants to choose their own finish.
Rental prices are for negotiation and have not been made public.
Colliers CRE and Daniel Harris & Co are the letting agents for The Hive.
Posted in Manchester |
Tagged Public Sector, Speculative Developments |
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Posted on October 12, 2010 by John Cronin
Councillors look set to approve a revamp of 1960’s industrial tower block in Brighton to form a centre for the city’s burgeoning digital media sector.
Brighton and Hove councillors are to meet this Thursday, 14th October 2010, to consider the £9.5m redevelopment of New England House (pictured), an office block that already has 87 tenants and houses some 800 people. The favoured option is renovating and recladding the 11,500 sq metre building coupled with an extension to the office by building over the car park. It is expected that the plans would create additional floor space to accommodate another 500 people.
The council is working in conjunction with both Wired Sussex and the University of Sussex and is keen to promote New England House as a hub for companies working in the digital media sector. Estimates suggest that Brighton and Hove is home to a cluster of around 1,500 media-related companies employing 10,000 people, plus another 5,000 freelancers.
Council leader Mary Mears said: “This building served our industries in the past but needs work done if it’s to serve the industries of the future. Building the economy is one of our priorities and digital media will be crucial to that.”
Wired Sussex MD Phil Jones said “A renovated New England House would stand as both a statement of how far the digital and media sector in the city has come and also testament to its future ambition. This is about creating a world class centre for innovation and collaboration in the creative industries, something which can help underpin Brighton’s future prosperity. It is great to be moving forward with the project.”
As it currently stands New England House is an 8 storey office block with over 120,000 sq ft of lettable space. The building is owned by the city council. It was opened in 1964 and is reported as being the first purpose built, high-rise industrial business centre in the world. Currently 60% of the total floor space it is let as workshops and office units to a mix of businesses, quite a few of which fall within the creative industries and, more particularly, the digital media industries.
Whilst being structurally sound New England House as a whole suffers from exterior dilapidations and much of the services infrastructure is reaching the end of its useful life. Although funding options are yet to be decided, the council and local business groups believe a speculative redevelopment of the building will be successful. A recent study by the Brighton Business forum concluded that:
“New England House offers both scale and the flexible configuration of spaces across large floor plates meaning that it is suited to providing accommodation for larger and growing businesses. At the same time, it can be sub-divided to provide smaller units where, although the accommodation shortage in the city is not so acute, the benefits of clustering will be more pronounced on a business’s prospects.”
Letting agents Cluttons are currently marketing floor space in Unit D, level 8 of New England House at £16,000 pa for 1262 sq ft of floor space, equivalent to £12.68 / sq ft.
Posted in East Sussex |
Tagged Planning, Renovations, Rental Prices, Speculative Developments |
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Posted on October 11, 2010 by John Cronin
London School of Economics (LSE) is set to buy the Land Registry Office building in central London for £37.5m. The Land Registry Office has issued a press release confirming the deal that is now subject to contract.
The grade II listed building (pictured) at 32 Lincoln’s Inn Fields is being sold to LSE who have plans to use the offices for both academic and administrative uses. The 85,000 sq ft Edwardian building will be used as an expansion of LSE’s university campus which already includes properties in the area. Staff currently occupying the head office will be moved out to the Land Registry’s Trafalgar House office in Croydon.
Julian Robinson, a spokesperson for LSE said: “This is a serious landmark building for a serious University – the purchase of the Land Registry will enable the LSE to further its objective of creating a world class estate commensurate with its academic reputation.”
This transaction comes under the programme of staff reduction and office space rationalisation that the Land Registry Office first announced earlier this year. In total 8 office buildings from a portfolio of 17 have been put on the market at a total valuation of £80m. Along with the existing head office in Lincoln’s Inn Fields other properties deemed surplus to requirements include a £10m 56,000 sq ft office block in Tunbridge Wells; a £6m 110,000 sq ft building in Stevenage, Hertfordshire; a 70,000 sq ft building in the centre of Portsmouth valued at £8m; Ty Bryn Glas, a 60,000 sq ft Swansea office valued at £3.5m and Plumer House, a 4.5 acre site in Plymouth with an office valued at £2m.
The Land Registry has very recently applied for planning permission to build 74 homes on the Plumer House site according to a report in the Plymouth Herald. The current office block, built for the Land Registry in the 1970’s is set to be demolished and the then empty land to be sold off for redevelopment. Staff from Plumer House in Crownhill are due to move to another of the Land Registry’s Plymouth offices.
The Land Registry Office has stated that any surplus space in buildings not being sold, will be rented out where possible.
BNP Paribas Real Estate acted for LSE, Lambert Smith Hampton acted for the Land Registry Office. When appointed, Tony Fisher, head of Lambert Smith Hampton’s office division, said: “Investors are looking to capitalise on current market conditions and take advantage of the good-value investment opportunities available, nowhere more so than in the central London office market.”
Posted in London |
Tagged Listed Buildings, Public Sector |
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