This week we’ve seen quite a bit in the news, from ongoing Brexit blunders to the blustery winds of storm Bronagh. But there has also been a lot of commercial property news!
Last time we looked at Sports Direct’s £31.6m purchase in Newcastle, a new business hub in Port Talbot, the L&G Deansgate Square deal is confirmed and a rise in South Korean investment in the UK.
This time we’ll be looking at a £210m mixed-use scheme in Leeds, Birmingham’s ambitious city centre Paradise development, a developer handing over 9 units and a building warrant with Aberdeen City Council.
Leeds X1 South Bank Mixed-Use Scheme
Planning permission has been granted, by Leeds City Council, for a mixed-use scheme costing approximately £210 million. The scheme has been created by X1 and Knight Knox.
Though you’ll have a bit of a wait before you get to see it, as there will be 5 phases before completion. This is due to almost 1,000 apartments on top of commercial property.
The commercial aspect will include several food and drink premises as well as retail units and office space. This is to ensure they meet living requirements for the area.
Find out more about this news story via Development Finance Today.
Trouble in Paradise: The Birmingham Paradise Development
A new development in Birmingham, dubbed The Paradise Development, has been stung with the need for additional investment.
Initial costs were thought to be in the region of £700 million, but has since needed to find an additional £100 million after costs spiralled.
The development is 1.8 million sq ft and will include several commercial properties, such as food and drink outlets, offices and a four star hotel (which has 250 rooms).
You can find out more about this news story via Birmingham Post.
Construction and Hand Over of Nine New Commercial Units
St Modwen, a well known property giant, has constructed and given away 9 new commercial units based on their existing Dursley development.
The £150 million mixed-use site will soon be housing start-ups and smaller businesses, thanks to both St Modwen and Stroud District Council.
The new units offer over 18,000 sq ft of space in total, with units varying in size. These now join the 8 already occupied units on the site.
Find out more about this news story via Insider Media.
Oil and Gas Firm, Tenaris, To Move into Aberdeen
Energy and Industrial firm, Tenaris, are looking to move into 2 Marischal Square (2MSq) in Aberdeen town centre. The company have recently logged a building warrant for the 5th floor.
The work needed, which includes partitions to create separate spaces, is estimated to cost just under £400,000. The space itself is 10,000 sq ft.
Luckily for staff, work has already begun on the bespoke internal construction. Staff are thought to be “eagerly anticipating” its completion.
Find out more about this news story via Evening Express.
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.