SEGRO, Europe’s leading owner-manager and developer of industrial property, is pleased to announce that it will start construction at its 128,250 sq ft development at Advent Way, Enfield on 30 September 2013. SEGRO announced in April 2013, that it had secured a pre-let agreement to construct a 44,100 sq ft, 96 bedroom hotel for Premier Inn and it would also be developing 84,150 sq ft on a speculative basis. SEGRO has obtained detailed planning consent from the London Borough of Enfield. This is the first development project SEGRO will undertake in North London.
Advent Way covers 5.2 acres and runs parallel to the North Circular Road providing easy access to the M25, with the nearby A10 providing direct access to Central London, making this an attractive location for businesses undertaking ‘last mile’ urban distribution activities. An old disused factory used to stand at this site, which SEGRO demolished to make way for this highly sustainable development.
Construction will commence this Autumn on 15 industrial units, which will range in size from 2,300 sq ft to 13,000 sq ft. The development will create a high quality business park suitable for businesses involved with urban distribution, trade counters, light industrial and storage facilities, as well as providing local employment opportunities.
The five storey hotel will be built adjacent to the new industrial park, representing the first project that SEGRO has secured with Premier Inn, part of Whitbread PLC. The new hotel will include a ground floor bar/restaurant and business meeting room facilities, plus a new access road and a 96 space customer car park.
Once completed, the hotel is expected to create 32 new full time jobs, 50 per cent of which will be targeted at local unemployed people. The new facility will provide services and amenities for the companies located nearby, as well as contributing to a high quality environment that will be attractive to occupiers.
The two phase development will aim to achieve BREEAM ‘Excellent’ and will include features such as roof-mounted photovoltaic solar panels, air source heat pumps and rainwater harvesting. The development has also been designed to allow future connection to the local authority’s planned District Energy Network which will supply occupiers with low cost hot water from a highly sustainable source.
Alan Holland, SEGRO’s Business Unit Director for Greater London, comments: “This is an important investment for SEGRO in Enfield. This is our first speculative development project in North London and our first pre-let hotel agreement with Whitbread. This project demonstrates our commitment to creating modern new business parks in major conurbations, and at the same time, providing local employment opportunities.”
Owen Ellender, Acquisition Manager for Whitbread Hotels and Restaurants, said: “Whitbread is pleased to be working with SEGRO on this new development. We are looking forward to establishing another quality Premier Inn location in London, which in turn will create new jobs, help revitalise the local area and enhance the facilities on offer to local occupiers at this important London business location.”
Completion is due in August 2014.
ABOUT SEGRO
SEGRO is a leading owner, asset manager and developer of modern warehousing, light industrial and data centre properties, with £4.7 billion of assets (including joint ventures at Group share, as at 30 June 2013) principally concentrated in London’s Western Corridor (including the Thames Valley) and in key conurbations in France, Germany and Poland. We also own offices and more specialised buildings in the Thames Valley, Brussels and Milan and smaller industrial property investments in Belgium, The Netherlands and the Czech Republic.
The Group serves over 1,400 customers spread across a diverse range of industry sectors. It has 5.2 million sq m of built space and a passing rent roll of £311 million (as at 30 June 2013). For further information see www.SEGRO.com
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