Stoford Newsletter 2020

STOFORD NEWS 2020 | 01

Introducing our new Jewellery Quarter offices

Contents

02. Worcester Six 04. Pantheon Park 06. Icon Manchester

The continued growth of the business and changing working needs meant we needed a larger office. We wanted to find a new home for the business that we could really make our own.

It was hard work getting everything finished, but we’re thrilled with the quality of the fit out and the design. It has set us up for future success, giving us potential to grow further when we need to.

08. Liberty Park, Lichfield 09. Liberty Park, Widnes 10. Icon Harlow 12. University of Northampton 14. Stone Cross Park 16. Metaswitch HQ After delivering commercial developments of more than 14 million sq ft with a value of more than £1 billion, we completed a significant project of our own last year: our new headquarters.

Following 15 years at Lancaster House, we moved to a fantastic three-storey Edwardian property on Ludgate Hill, close to St Paul’s Square in the city’s historic Jewellery Quarter.

Associated Architects designed a comprehensive refurbishment project from top to bottom, and Benniman Construction undertook all of the work.

The result is a high-quality design in a building that is full of character. Crucially, there is plenty of space for the growing team – in fact, it’s more than double the size of our previous office.

Matt Burgin, Joint Managing Director, Stoford Developments.

Stoford’s new headquarters on Ludgate Hill, Birmingham.

NEWS 2020

18. East Midlands Airport 20. Redditch Gateway 21. Spa Park 22. Exeter Logistics Park 23. Land Promotion 24. Community

in numbers

1,500,000 1,500,000 sq ft currently under construction

ÂŁ350,000,000

16

c. ÂŁ350m of funding secured in the last 18 months

16 spec buildings completed or under construction

22,173,000

19,000

Capacity for 22,173,000 sq ft of floor space

Number of trees have been planted across our sites

15

1,471

Pre-lets agreed nationally

Commercial development pipeline of 1,471 acres across the UK

STOFORD NEWS 2020 | 03

The calibre of tenants at the development demonstrates that this is a world-class location for high-tech and innovative businesses.

Gerard Ludlow, Director, Stoford Developments

Great progress at Worcester Six We saw considerable progress at Worcester Six, our flagship development just off junction six of the M5, last year, and 2020 also promises to be significant for the £120 million scheme.

In 2019, we hit a number of milestones: We reached practical completion on a £20 million environmentally friendly development for Kohler Mira, parent company of Mira Showers. Key to the sustainable development is the inclusion of a large PV solar array on the roof of the 158,000 sq ft unit, which should generate up to 1MW and will help towards Kohler Mira’s aims to be carbon neutral by 2035.

Kohler Mira, which was the fourth occupier to announce its move to Worcester Six in just a few months, could add to its scheme, with a 100,000 sq ft of space that is earmarked for construction at a later date.

Being Open for Business is one of the County Council’s key priorities and this park is certainly living up to that.

Councillor Ken Pollock, Worcestershire County Council Cabinet Member

2019 also saw Marmon Food & Beverage Equipment, a leading global manufacturer and supplier of food and beverage equipment, move to a 28,500 sq ft unit, from where it is establishing its UK headquarters. Among the leading brands for the group of businesses are Cornelius and Prince Castle.

Kimal PLC, a leading manufacturer and supplier of products for the healthcare sector, took delivery of its new £13 million headquarters. The completion of the

140,000 sq ft design-and-build unit, which was acquired in 2018, meant the company was able to move its staff from Droitwich.

Spire Healthcare also moved into its new £9 million premises, from where it has provided jobs in customer and professional services, distribution services and archive management.

Already in 2020 we have received planning permission for the next stage of development at Worcester Six. ZwickRoell, a world-leading supplier of static materials testing machines, will occupy two units – a 19,849 sq ft office and 10,000 sq ft assembly building – while approval for a third unit of 37,800 sq ft has also been given.

Worcester Six Business Park is one of the four key investment sites across the county where Worcestershire County Council and its partners are looking to develop, creating additional jobs. Once fully developed, the site will provide 1.5 million sq ft of accommodation.

For more information, visit: www.worcester6.co.uk

STOFORD NEWS 2020 | 05

Pantheon Park is already home to the new motorstore of UK car dealership, Arnold Clark. An additional unit of 76,908 sq ft has been earmarked for storage company Lok’nStore.

For more information, visit: www.pantheonpark.uk

Pantheon paves way for Midlands jobs Work is close to completion on more than 240,000 sq ft of new industrial/warehouse units in Wolverhampton, which could create up to 250 jobs.

We are constructing four Grade A units at Pantheon Park, near Bentley Bridge Retail Park in Wednesfield, just two miles from Wolverhampton city centre and four miles from junction 10 of the M6.

The previoulsy vacant site has been transformed, in partnership with Bridges Fund Management, the specialist sustainable and impact investor, following a £23 million funding agreement with Royal London Asset Management (RLAM).

The new units are expected to be available from April 2020.

We’ve worked hard to get the site ready for development and are confident that Pantheon Park will appeal to a broad range of logistics and industrial businesses, looking for high-quality units in a prime, strategic location.

Angus Huntley, Development Manager, Stoford Developments

STOFORD NEWS 2020 | 07

Icon Industrial takes flight Icon Industrial – a joint venture between Stoford Developments and private global investment firm TPG Real Estate – has become a significant logistics platform through the acquisition and development of two prime locations.

The £235 million Icon Manchester Airport development is one of the newest and most exciting logistics hubs in the UK.

Icon Manchester Airport is a hugely successful scheme that continues to stimulate the Greater Manchester economy through the flexibility the site offers to its tenants.

Dan Gallagher, Managing Director, Stoford Developments

Set in a key strategic location next to the World Freight Terminal, the 45-acre buildto-suit scheme offers occupiers the chance to create a premium-quality logistics unit to meet the needs of their business.

Already home to high-profile occupiers Amazon and DHL, we completed a double deal with The Hut Group at the Manchester Airport development in 2019.

The global retailer agreed to purchase an 11-acre site and a new £150 million logistics and global content creation studio that will create about 2,000 new jobs. Work is well underway on the development, known as ICON, which will deliver 104,000 sq ft of office space over four floors, and additional content creation facilities totalling 168,000 sq ft.

We are the appointed development delivery partner for the buildings and expect them to be complete by the summer of 2020.

In addition, Alpha Real Capital, a leading investor in long income real assets, agreed to purchase a new, state-of-the-art 102,500 sq ft industrial/warehouse facility at Icon Manchester Airport.

The £15 million sale came just weeks after Alpha LSG, the UK’s largest inflight catering, onboard retail and logistics company announced that it will move to the highly specified building, securing its future in the region. Alpha LSG will almost double its existing space when it moves its bonded warehouse operation to the new unit.

Construction is programmed for completion in May 2020.

Planning applications have also been submitted for the next stage of development at Icon Manchester Airport’s two remaining plots. They include Icon 138, a new Grade A, 138,000 sq ft speculative warehouse and logistics facility, featuring a highly specified building, which is expected to be completed and available in June 2020.

The final plot will deliver up to 459,000 sq ft on a build-to-suit basis, deliverable within a 12-month programme and includes threestoreys of integrated office accommodation and two-storey hub offices.

A detailed planning application has been submitted and will be granted in March 2020.

For more information, visit: www.iconindustrial.co.uk

ICON is our next step in expanding the Group’s content production and logistics capabilities.

Matthew Moulding, Founder and Chief Executive Officer, The Hut Group

STOFORD NEWS 2020 | 09

We are pleased to have completed work on this major employment project, which provides quality industrial and logistics accommodation in a strategically important location.

Tony Nash, Director, Stoford Developments

A different way to tackle Liberty Park, Widnes We did something a little different when we launched L107 at Liberty Park Widnes: after organising a well-attended Rugby World Cup themed event at the 108,000 sq ft unit, we kept the rugby theme going until the end of the tournament.

All the agents were grouped into teams of participating nations of the Cup and a trio Guy Jackson, Jonathan Williams, Tom Cooley – who were allocated South Africa won tickets for a rugby Six Nations game after the Springboks triumphed over England in the final.

We are proud to be involved with Liberty Park Widnes, which has been hailed a milestone in the area’s economic development plans. Once complete it will play a crucial role in unlocking the important Halton and south Liverpool industrial and warehouse market.

The industrial park includes completed infrastructure works, making it the only fully serviced site of this size in the south Liverpool area, while L107 is the only completed new-build warehouse unit over 50,000 sq ft.

There’s also outline planning permission for a further 350,000-400,000 sq ft of accommodation for B1, B2 and B8 uses.

For more information, visit: www.libertyparkwidnes.com

We decided to keep the rugby theme going throughout the World Cup and it certainly generated some friendly rivalry between the agents!

Angus Huntley, Development Manger, Stoford Developments

Work completes on £45m Lichfield development Construction of two speculative industrial/logistics units has been completed at Liberty Park, Lichfield.

The new units – L117 and L48 – will provide 117,000 sq ft and 48,000 sq ft of Grade A industrial/ logistics accommodation and could create up to 700 jobs.

We have also made major improvements to site access and infrastructure, including new car parking facilities and the replacement of a road bridge over the West Coast Main Line.

The scheme has been delivered in partnership with Liberty Property Trust, with the support of Staffordshire County Council, and Stoke-on-Trent and Staffordshire Local Enterprise Partnership.

Liberty Park, Lichfield is a 30-acre development site and has planning consent for approximately 441,000 sq ft of industrial/logistics accommodation, including units from 40,000 sq ft to 350,000 sq ft.

Situated approximately 14 miles north of Birmingham, with access to the A38 and the M6 Toll, the site is adjacent to Lichfield Trent Valley train station, with mainline links to London.

Local occupiers include DHL, Newell Rubbermaid, Florette, Tesco and Palletways.

Liberty Park, Lichfield has been backed by £4 million funding through the Government’s Growth Deal.

For more information, visit: www.libertyparklichfield.com

STOFORD NEWS 2020 | 11

First phase complete at striking new Harlow scheme

This development provides potential occupiers with highspec warehouse and logistics accommodation in a premium location. We are anticipating considerable demand for the completed Units B and C.

Our Icon Industrial JV has invested in a new build-to-suit warehouse/logistics scheme in Harlow, Essex, where we agreed the sale of a new circa 70,000 sq ft head office and logistics development to SOP International.

Tony Nash, Director, Stoford Developments

The highly specified building, which contains 60,000 sq ft of warehouse accommodation and two-storey Grade A offices of 10,000 sq ft, was handed over to the occupier in the autumn of 2019 so it could complete its fit-out.

SOP International, which imports and distributes Asian and Oriental foods throughout the UK and Europe, is the second major occupier to have moved to Icon Harlow, following in the footsteps of GSK. Two additional highly specified units of circa 68,000 sq ft and 97,000 sq ft were completed speculatively in late 2019, bringing phase 1 of the development to a close. Both units are available for occupation.

Phase 2 will provide up to 200,000 sq ft of prime accommodation on a build-to-suit basis, all located within the established London-StanstedCambridge corridor, just 30 miles north of central London and nine miles from the M25.

Icon Industrial is a joint venture between Stoford Developments and private global investment firm TPG Real Estate.

For more information, visit: www.iconindustrial.co.uk

STOFORD NEWS 2020 | 13

Global leather hub at University of Northampton The University of Northampton’s reputation as a global leading educator in the leather industry has been consolidated with our delivery of a £5.5 million centre of excellence.

The new International Leather Centre will become the epicentre for leather expertise, addressing the whole of the value chain from ‘the hide to the high street’. We believe no one else is positioned to offer this level of expertise worldwide.

Rachel Garwood, Director of the ICLT

The 27,000 sq ft Institute for Creative Leather Technologies centre (ICLT) is located at the town centre Waterside campus and this impressive facility includes a tannery, offices, classrooms and teaching laboratories, and will be a global hub that will deliver technical excellence in education, training and research.

LGIM Real Assets (Legal & General) funded the project, which was designed by Associated Architects.

We are pleased to have completed this fantastic development for the University of Northampton, which will consolidate its reputation as a global leading educator in this sector.

Edward Peel, Development Manager, Stoford Developments

STOFORD NEWS 2020 | 15

New Warrington warehouse in demand Stone Cross 72 is a new Grade A 72,500 sq ft warehouse facility that is now available for occupation.

The unit is located at Stone Cross Park in Warrington, on the site of a former Carlsberg depot.

We have also completed the sale of the adjacent Stone Cross 136 to international packaging firm ALPLA. The Austrian headquartered company, which employs more than 20,000 staff worldwide, has purchased the 126,000 sq ft logistics facility for its own occupation.

The scheme is the first we have delivered in partnership with UK and European real estate investment management firm, Oxenwood Real Estate Stone Cross Park is located close to junction 23 of the M6, north of Warrington, within the wider Stone Cross employment area, which extends to 80 acres.

Local occupiers include Ansell Lighting, Righton, Cold Move and Hovis.

Stone Cross is an established and prime logistics location with an enviable line up of well-respected tenants, in a region that has a shortage of available stock. We are anticipating considerable demand for Stone Cross 72 from potential occupiers seeking to be connected to the M6 and M62 corridors.

Angus Huntley, Development Manager, Stoford Developments

For more information, visit: www.stonecrosspark.co.uk

The sale of Stone Cross 136 at an early point in our business plan supports our strategy of buying vacant or short-let units that provide flexible and cost-effective accommodation in areas of strong occupier demand.

Stewart Little, co-founder of Oxenwood Real Estate

STOFORD NEWS 2020 | 17

Topping out for global software company’s new HQ In April we will top out the new £26.7 million headquarters for Metaswitch, the worldclass communications software company, in Enfield, London.

The one-acre site will comprise a 55,000 sq ft, five-storey office building with ground-floor reception and café, state-of-the-art data centre, rooftop conference centre, as well as a feature full-height atrium. A basement car park will accommodate 96 vehicles.

Once completed at the end of 2020, the building will house up to 500 employees.

McLaren Construction is building the Grade-A building, which aims to achieve the BREEAM ‘Excellent’ standard.

Metaswitch is delighted to be working with Stoford and McLaren Construction to create a stand-out working environment for our employees and visitors. This will give us a stunning building, which will help us attract and retain the best talent to maintain our position as one of the world’s best in our field.

Martin Lund, CEO of Metaswitch

This highly sustainable building underlines our ability to deliver best in class office buildings for large corporate occupiers.

Gerard Ludlow, Director, Stoford Developments

STOFORD NEWS 2020 | 19

East Midlands hangar development completed We’ve handed over a 39,105 sq ft hangar at the East Midlands Airport to a leading global engineering company after acquiring the site from Manchester Airport Group.

The company agreed an initial 30-year lease for the site.

Funded by L&G, the hangar was designed by RPS Architects.

It was a source of pride for us to be working alongside a highly respected global company to deliver this development.

Matt Burgin, Joint Managing Director, Stoford Developments

STOFORD NEWS 2020 | 21

We are pleased to be working with BlackRock on the latest phase of a significant development that could bring hundreds of jobs to the area. Spa Park offers access to a strong skilled labour pool, good infrastructure and connections, and importantly a significant power supply.

Highways works set to open 78-acre Redditch Gateway

Edward Peel, Development Manager, Stoford Developments Work has begun on major improvements to the transport infrastructure of a huge development site near Redditch, which will pave the way for a new build-to-suit industrial/logistics scheme.

We are delivering a signalised traffic junction at the 78-acre Redditch Gateway site, off Gorcott Hill and the A4023 Coventry Highway, on the eastern fringes of Redditch.

The infrastructure works will open up approximately 45 acres of development land on the northern side of the site within the Bromsgrove district and a further 35 acres in Stratford-on-Avon to the south.

Redditch Gateway will deliver up to 1 million sq ft of logistics manufacturing accommodation, with integral office space, secure yard space and parking. Unit A, a 366,000 sq ft warehouse building, is already under offer, with construction set to start in Q2 2020. The site has capacity for two additional build-to-suit units of between 150,000 sq ft and 250,000 sq ft.

Redditch Gateway is an exciting development in a strategically important West Midlands location, just a few miles from the M42. There is considerable pent up demand for industrial/logistics accommodation of this size and quality in the region and our significant investment in the development of the local transport infrastructure is the first step in realising our vision for this landmark scheme.

Dan Gallagher, Joint Managing Director, Stoford Developments

For more information, visit: www.redditchgateway.com

New 180,000 sq ft units for multi-million pound Spa Park

UNDER OFFER

The third phase of a multi-million pound business park in Leamington Spa is set for completion this spring, bringing 180,000 sq ft of new industrial units to the town.

Liberty Vehicle Technologies. It will become a global hub for its research and development and engineering expertise, housing more than 100 technical professionals, including 40 new engineering posts.

We have constructed three units of 30,000 sq ft, 40,000 sq ft, and 60,000 sq ft at the park on Tachbrook Road, which include ancillary offices and are suitable for advanced manufacturing, e-fulfilment and distribution uses (B1, B2 and B8 classes).

Stoford has developed the site jointly with leading asset management company BlackRock.

A fourth unit, of 50,000 sq ft, has been pre-let and will be occupied by Liberty 920E, part of the prestigious

Spa Park is ideally located, close to the A46 and junctions 14 and 15 of the M40. Leamington Spa train station is less than one mile away.

For more information, visit: www.spapark.co.uk

STOFORD NEWS 2020 | 23

The collaborative approach to land promotion Stoford understands that land is key. Our collaborative approach of working with landowners, funds and partners allows us to deliver a bespoke strategy for success. With our in-house planning advice, development and project managers, we have a strong team for identifying land, negotiating, and applying detailed technical knowledge.

We have successfully promoted land through the development plan process, an example being Worcester Six Business Park, within the South Worcestershire Development Plan. After securing the allocation of phase 1, representing circa 35 hectares of land for B1, B2, and B8 use, we established a joint venture with the landowner. Stoford has gone on to successfully develop a series of units for international and local companies, including Siemens, Kohler Mira, and Kimal.

New 90,000 sq ft unit at Exeter Logistics Park An international retailer has moved into a new 90,000 sq ft distribution unit at Exeter Logistics Park.

We have delivered the new facility as part of the second phase of a massive industrial scheme on 55-acres of land at Hayes Farm, owned by the Church Commissioners for England.

Expected to attract significant investment, the development has already enabled a new Instrument Landing System to be installed at Exeter International Airport – the first such upgrade at the airport in 28 years.

This development has been the result of three years’ work on behalf of a number of stakeholders with a shared vision for establishing the site as the South West’s leading distribution hub, south of Bristol.

Working closely with potential occupiers, building relationships, and demonstrating a need for floorspace, Stoford also secured an allocation of employment land within the Thame Neighbourhood Plan – one of the first plans of its kind.

Our strength in working with occupiers has allowed us to successfully deliver planning proposals on over 1000 acres of land at sites such as Redditch Gateway, Liverpool 57, Widnes, and Lichfield.

We work collaboratively with landowners, funds, and partners, guiding them through each stage of the land promotion process, with an identified key point of contact within the business.

For more information, visit: www.stoford.com/land-promotion

- EST.1996 -

Dan Gallagher, Joint Managing Director, Stoford Developments

Funded by Torbay Council, Exeter Logistics Park is strategically located to serve customers across the wider South West.

The site benefits from major improvements to nearby Junction 29 of the M5 and the construction of the Clyst Honiton bypass, linking the Science Park, Skypark, and Cranbrook.

1 Site Identification

4 Local Authority Engagement

7 Planning Application

2 The Team

5 Stack Holder & Community Engagement

8 Release Land Value to Landowner

3 Technical & Environmental Challenges

6 Development Plan Promotion

STOFORD NEWS 2020 | 25

Community – it’s a wrap Christmas came early at Stoford, as our team of hardworking elves wrapped more than 300 presents for local children on behalf of Property for Kids. The gifts were donated to Birmingham & Solihull Women’s Aid, which distributed them to children and young people affected by domestic violence or abuse. It was the latest in our longstanding commitment to the industry charity, led by committee members Julie Craig, Michelle Ward, Angus Huntley, and Dan Gallagher.

The Stoford family expanded in 2019, with the arrival of two new Sto-babies.

Many congratulations to Angus Huntley and Gerard Ludlow, who both became fathers for the first time.

Stoford’s Julie Craig presented the winners’ trophies as part of our headline sponsorship of the OVO Tour Series in Redditch. Britain’s leading televised cycling event, the series sees the country’s best professional cyclists competing across towns and cities.

We joined forces with other local businesses to make a donation to the historic St Paul’s Church, in Birmingham’s Jewellery Quarter, where Matthew Boulton and James Watt once had their own pews.

The Grade I listed church, which dates to 1777, is in urgent need of roof and guttering repairs, which were last replaced after being damaged in World War II.

For more information, visit: www.justgiving.com/crowdfunding/ stpaulschurchbirmingham

Claire Harris, who volunteers at Birmingham Children’s Hospital, has raised more than £1,200 for the staff, parents, and patients of Ward 15. Claire, who gives time and fundraising expertise to four local charities, has used the funds to buy much-needed furniture, clothing, toiletries, games, and equipment for the children.

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