Cadent’s new site is making good progress
Works are off to a great start for Cadent’s new HQ at Prospero Ansty Park. It was announced in October that Cadent would take a 90,000 sq ft office building at the Park to relocate a number of functions currently located in Hinckley, Coventry and Leicester. The new purpose-built HQ, being developed by Manse Opus, is the second largest out of town pre-let in the UK this year and is due for occupation in early 2022, with construction work already steaming ahead.
The scheme, which has been designed to meet a BREEAM “Very Good” rating, is being funded by the Lime Property Fund, managed by Aviva Investors. Cadent Gas have agreed a 25-year lease at an initial rent of approximately £2.12 million per annum subject to five yearly reviews linked to RPI with a floor and cap of 2% and 4% per annum.
This month will see the metal decking commencing to the upper floor slabs as well as the ongoing steel erection for the office. The pre-cast concrete stair installation will also commence following the completion of the basement excavation which began last month.
To see a live feed of the office construction, click here.
RETAIL: Stove Works Retail Park, Royal Leamington Spa
Opus Land and Savills Investment Management purchased a brownfield site, which was formerly a Ford Factory car park and obtained planning for a 60,000 sq. ft retail space, located just 0.5 miles from the town centre and 15 minutes’ walk from the train station.
INDUSTRIAL: Prospero, Ansty
Together with their joint venture partner, Manse LLP, and on behalf of Rolls-Royce, Opus Land are delivering more than 2 million sq. ft of space at Prospero, Ansty, starting with a 490,000 sq. ft manufacturing facility for Meggitt PLC.
WAREHOUSE: Conneqt Alpha
Opus Land and Bridges completed an 153,800 sq. ft unit with 16 loading doors at the Kingwood Lakeside Business Park in Cannock.
OFFICES: 54 Hagley Road, Birmingham
A 160,950 sq. ft multi-let office, three miles from Birmingham city centre which underwent a comprehensive refurbishment programme by Opus Land and was sold for £24.25m.
