This past week has been one of the hottest on record, but that hasn’t stopped investors and developers from getting their hands on commercial property.
Last time we looked at Bristol’s growing economy, a Bristol prime office, the government saving the high street and a company relocation.
This week we’re looking at a new Barclays hub, Leicester and Derby office space, a speculative industrial site in Leeds and the redevelopment of Corys’ buildings in Cardiff Bay.
State-of-the-Art Barclays Campus at Buchanan Wharf
Barclays has signed a multi-million pound deal with Drum Property group for the delivery of a new campus. The state-of-the-art building will be based in Buchanan Wharf.
The bank has signed for 47,000 sq ft of grade A office space, which is predicted to house at least 2,500 Barclays employees. This will double their workforce in Scotland.
They also have the option of extending their new campus in the future – planning over 200,000 sq ft of extra space in the second phase of development.
Find out more about this news story via Insider.
Growing Office Demand in Leicester and Derby
Demand for office space in Derby and Leicester has risen by a significant amount in the last quarter. The last 3 months has seen over 30 deals completed in the East Midlands.
Office take up in the 2nd quarter of this year in Derby had increased by a staggering 223% against the previous quarter and 430% higher than the previous year.
Leicester, on the other hand, saw a respectable increase of 90% in the first quarter of this year. This was still double what was recorded for the same quarter in 2017.
Find out more about this news story via East Midlands Business Link.
Construction Starts on Speculative Industrial Site
A Leeds industrial site has been appointed to Caddick Construction on behalf of Towngate. Work on the speculative site has now started.
The location of the site is at Cross Green and will include framed warehouses with a metal style of cladding. The first phase, already underway, includes 2 of the units.
The two units, TL1 and TL2, are 55,000 and 62,500 sq ft. With the work already underway, they are on target to complete the project by February 2019.
Find out more about this news story via The Business Desk.
£6m Welsh Government And Development Bank Investment
Rebecca Evans, Housing and Regeneration Minister in Wales, has made light of a new £6 million loan, which will be used to redevelop the Corys’ buildings in Cardiff Bay.
The loan has been given by Development Bank of Wales (£5 million) and Cardiff Council (£1 million) for a five storey Grade Two listed building.
The dilapidated buildings will be redeveloped into a mix of residential and retail space, with the retail space making use of the council’s contribution to the loan.
Find out more about this news story via Wales 24/7.
That’s all for this week, make sure to stay tuned for more commercial property news. If you want even more up to date information then please visit our Twitter page at @VAT_BRIDGE – where you’ll find a whole bunch of daily news and insights.