Several real estate groups have announced investments in new real estate projects in UK in recent days. The retail sector leads the charge with a EUR 130 mln buy of four retail parks across the country by Scottish Widows Investment Partnership (SWIP), and Thornfield Properties has been appointed for the EUR 532 mln revamp scheme in Hemel Hempstead, southern England.
Several real estate groups have announced investments in new real estate projects in UK in recent days. The retail sector leads the charge with a EUR 130 mln buy of four retail parks across the country by Scottish Widows Investment Partnership (SWIP), and Thornfield Properties has been appointed for the EUR 532 mln revamp scheme in Hemel Hempstead, southern England.
Previously owned by Morley Fund Managers, the four retail warehouse properties are located respectively in Wolverhampton, Dundee, Rochdale, Sunderland.
Thornfield competed with other regeneration specialists such as St Modwen, Castlemore, Stanhope, Lend Lease and Crest Nicholson for Waterhouse Square, a retail-led regeneration scheme comprising 18,580 m2 of retail space and a new full-size supermarket in Hemel Hempstead.
In the southwest coast of the island, near Plymouth, the national regeneration agency English Partners and the insurance company Legal & General have submitted a EUR 456 mln plan for a mixed-use development, including 17,700 m2 of retail, 21,000 m2 of office, 1,233 residential units and two hotels. Furthermore, in Northern Ireland, the site of the former City Hotel, destroyed by a bomb in 1974, will house a EUR 35 mln mixed-use development expected to be completed by 2009.
Property investment and development company Slough Estate International has been busy with the EUR 41.6 mln purchase of a multi-let business and industrial park near London. The Sunbury International Business Centre covers an area of 15,600 m2 and is let to 14 tenants. South of the City, Stanhope and Schroders's Croydon Gateway Limited Partnership started the compulsory purchase of land around the Croydon Gateway Site to develop their 148,643 m2 scheme that includes 102,193 m2 of retail. The project was granted planning approval on June 1, 2006.