Northern Powerhouse Developments

Transcription

1 Northern Powerhouse Developments

2 Scarborough International Properties Limited Northern Powerhouse Developments 3 Scarborough Group International 04 Introduction Think Local, Act Global 33 Our Partners & Financiers Celebrating 40 years GDV approaching 2 billion 05 Northern Powerhouse Developments 06 Middlewood Locks, Manchester 10 Hat Box, New Islington, Manchester 24 National Developments 25 Talbot Green, Llantrisant 26 Rosyth Waterfront, Fife 27 The Curve, Glasgow 14 Thorpe Park, Leeds 28 Marina Quay, Rhyl 4,500 new homes in development pipeline Leading Northern Powerhouse developer 4 million sq ft of commercial accommodation Strong links to local governments 18 Sheffield DC, Sheaf Street, Sheffield 22 Orbital 1, Stockport The Mills, Congleton Grand Approach, Wigan 29 Station Quarter, Newport 30 Blackpool Road, Preston 31 Dalgety Bay, Fife 32 Scott Hall Park, Leeds Global reach strong partnerships across the world Residential, Commercial, Retail, Leisure, Business Parks, Industrial and Mixed Use

3 Think Local, Act Global 05 Northern Powerhouse Scarborough Group International Limited (SGI) has a truly global reach and a reputation for delivery. With a proven track record across the UK, it remains one of the most active privately owned development organisations, having a portfolio with a Group Gross Development Value approaching 2 billion. Scarborough International Properties Limited (SIPL) was set up to undertake and manage the Group s property investments and developments. Developments Kevin McCabe formed his first family owned private company which ultimately led to the initial Scarborough branded corporation back in Since then SGI has grown from a UK based property developer and investor into a global organisation focussing primarily on real estate having at various intervals businesses in Europe, Australia, Canada, India and more importantly Hong Kong, the People Republic of China as well as retaining its core activities here in the United Kingdom. SGI is celebrating its fortieth anniversary having become a truly international group of companies with an attractive and diverse range of businesses. We have a comprehensive investment portfolio which encompasses all aspects of real estate, interests in leisure most notably a 50% stake in Sheffield United Football Club as well as additional investments in a number of other sectors. Working together with our global network of partners, SGI has a prestigious track record of property investment and development, primarily residential and commercial, including offices, business parks, retail, distribution and warehouse units, and shopping complexes. Close relationships with long standing joint venture partners have led to significant growth and diversification in our global property development and investment portfolio, which over the past 40 years have grown to encompass every aspect of real estate. SGI remains one of the UK s most active development organisations with a range of projects either underway, on site, or planned to commence in the near future with a Group Gross Development Value approaching 2 billion.

4 6 Scarborough International Properties Limited Northern Powerhouse Developments 7 Northern Powerhouse Developments Middlewood Locks Location: Manchester

5 8 9 Manchester: Middlewood Locks, Manchester Joint Venture with Metro Holdings of Singapore and Hualing Group of PRC Situated in Salford on the western edge of Manchester City Centre, Middlewood Locks will see the creation of a new Mixed Use community within walking distance of the Central Business District and with it the amenities provided by the UK s leading Regional City. Our 24.5 acre cleared site has Planning consent for some 2.5 million sq ft of Residential and Mixed Use development including 2,215 new Homes and 900,000 sq ft of Commercial space, incorporating Offices, Hotel, Retail and Leisure uses. Middlewood Locks will also benefit from an attractive remediated Canal basin as a central landscaping feature of the Community, establishing high quality living space with a waterfront park and an extensive range of modern facilities to benefit residents and commercial occupiers alike. Detailed Planning approval for a first Phase of Residential development comprising 571 apartments is on site with enabling works already underway that will permit formal building activities to start during the last quarter of Alongside our two established Partners Metro Holdings and Hualing Group we also have Beijing Construction and Engineering Group International as our Main Contractor whom we are hoping to work with together on our joint venture for the next five to seven years. Together with the implementation of our new Homes at Middlewood Locks, we are now actively progressing the staged development of Commercial space with a view to commencing the first Office project during acre canalside mixed use site with a waterfront park GDV: 1 billion + No. of Apartments: 2,215 Commercial space: 900,000 sq ft

6 10 11 Northern Powerhouse Developments Hat Box Location: New Islington, Manchester

7 12 13 Manchester: Hat Box, New Islington Joint Venture with Metro Holdings of Singapore and Hualing Group of PRC Practical completion of our Hat Box development housing 144 Residential apartments was achieved in April 2016 and it is pleasing to report that all of the new homes have been sold off plan, thus producing good profits to our joint venture partners and the Group. It is to be remembered that Hat Box is the second phase of our adjacent Milliners Wharf development that consists of 261 apartments, where again all of these homes have been sold with the exception of seven apartments which have been retained and are currently tenanted. The success of both Hat Box and Milliners Wharf demonstrates the popularity of the New Islington area of Manchester where we seek to undertake further developments in the years ahead. 100 % of apartments were sold off plan GDV: 32 million Number of apartments: 144

8 14 15 Northern Powerhouse Developments Thorpe Park THORPE PARK LEEDS Location: Leeds

9 16 17 Leeds: Thorpe Park Joint Venture with Legal & General Next phase: sq ft 1.35million mixed use accommodation and 300 homes Thorpe Park, Leeds is an established award winning Business Park already with a working population at the moment of around 4,500 people. The next stage of the development will build upon the Estate s strong foundation, adding to the existing 800,000 sq ft of space with a further 1.35 million sq ft of Mixed Use accommodation, and 300 homes, to create one of the largest and most diverse out of town business locations in the UK. new homes. Thus, this is the largest single area of housing proposed within the total allocation for East Leeds which stands at 11,000 new homes. Planning consent has been granted for 940,073 sq ft of Offices, 193,752 sq ft of Retail, 105,207 sq ft of Leisure incorporating Cinema/Cafes/ Restaurants, 91,236 sq ft of Hotels, Healthcare/Childcare facilities, sq ft for Health and Fitness and 300 Homes on the second phase of the Estate. include development platform earthworks involving mining legacy remediation. Highway design is on programme incorporating the new Rail Bridge and alterations to junction 46 plus key Gas and Electricity diversion works. Coincidentally we are midway through the construction of the first of the new premium specification Offices Building 3175, The Paradigm which will be available for occupation in late November 2016 offering 31,650 sq ft and over 100 parking spaces. Thorpe Park s 300 acres will, when finally completed, comprise an unrivalled mix of business and supporting amenity uses, including 110 acres of Green Park and public realm areas in an outstanding and well connected location. The Estate sits at the heart of the City Region s most significant growth area and will bring even greater diversity to Leeds offer to the local and national business community. This major city extension is to be served by the construction of the East Leeds Orbital Road (ELOR), a new dual carriageway connection to the M1 via our Estate. An extensive area to the north of Thorpe Park has been allocated for housing use to produce up to 7,000 Key to Thorpe Park s success is having a progressive plan for delivering ease of commuting through effective and varied transport modes, and a managed transport planning strategy. The Estate s prominent position adjacent to the M1 at junction 46 provides immediate access to the local and national road network. The new ELOR will bring a greater connection to the East Leeds community and the City, with established bus routes providing a service every 15 minutes into the centre of Leeds. Thorpe Park is being considered as the location for a proposed new Rail Halt East Leeds Parkway and associated Park and Ride facility. Present on site activities Pre-development activities for our major Retail and Leisure Park have already seen formal Agreements for Lease exchanged with Next, M&S Simply Foods and Outfit. Heads of Terms are in place with a variety of other nationally known organisations for Retail, Cinema, Restaurants, Coffee Shops and other Leisure uses. A contract to conclude the sale at an attractive price of the Estate s Residential land for 300 homes to national Housebuilder Redrow Homes was exchanged earlier this year. GDV: 500 million Development site: 300 acres with 110 acres of Green Park and public realm areas Location: J46 of M1

10 18 19 Northern Powerhouse Developments Sheffield DC Location: Sheaf Street, Sheffield

11 20 21 Sheffield: Sheffield DC Joint Venture with Metro Holdings of Singapore Sheffield DC is already recognised as the City s most iconic Office location, unquestionably one of the prime Northern Powerhouse developments. DC is located not just within a stone s throw of the City Centre, but also adjoining the Railway Station and Bus Terminus connecting within seconds to the Parkway which in turn links in to the M1 and other national Motorway routes. In past years we have developed at DC, the Electric Works, and Ventana House, both of which are fully occupied and are now well progressed with the construction of Acero Works, an Office Building of some 80,000 sq ft of the highest quality accommodation being constructed over six floors and ready for occupation during the second half of We are confident that the six storey Acero Works will secure prime occupiers during next year, and thus are planning the final phase of DC, being Vidrio House which will be an eight storey, 51,000 sq ft building where enabling and substructure works have already been undertaken. Acero Works 80,000 sq ft and Vidrio House 51,000 sq ft of Grade A Office Space GDV: 45 million Next phase: 131,000 sq ft in two office buildings

12 22 23 Stockport: Orbital 1 GDV: 20 million In mid 2016, Scarborough Development Group Limited (SDG) was granted Planning consent by Stockport City Council for a 12.5 acre development on our Orbital 1 site situated on Junction 1 of the M60 Motorway in South Manchester. The project is to be Mixed Use comprising Industrial Trade Counter and Retail buildings in this most sought after area of the North West, within easy reach of Manchester City Centre. Nearby occupiers include Audi, BMW, Volkswagen, B&Q, The Co-Operative Bank and Pets at Home. Facilities are in place with Investec and preparatory works have commenced on site ensuring we are ready for the main construction activities to start within the coming months. The first Phase is likely to consist of some 55,000 sq ft of Retail accommodation alongside key infrastructure work to complement the rest of the Orbital 1 land. Orbital 1 has a GDV exceeding 20 million and at completion is expected to create more than 300 jobs for the Stockport region. Cheshire: The Mills, Congleton The Mills is prominently located at the centre of Congleton Town Centre and will see an under-utilised site redeveloped into modern, high specification retail and leisure space of some 50,000 sq ft, together with a new public square and realm at the heart of the development. Redevelopment: 50,000 sq ft Work on site is due to commence second quarter of Greater Manchester: Grand Approach, Wigan In recent times we have reconsidered SDG s proposals for the development of the land situated alongside the Grand Arcade Shopping complex. Wigan is seen as an excellent location with ease of access to travel by road or rail to other areas of Greater Manchester as well as Liverpool. Proposed scheme: 150 apartments

13 National Developments South Wales: Talbot Green, Llantrisant Our site in Llantrisant extends to some 20 acres of land over which we already have Planning consent permitting around 450,000 sq ft of new Retail and Leisure areas to be developed in the years ahead. The first phase of our Talbot Green shopping complex sees infrastructure works progressing well, ready to permit a handover of the land to J Sainsbury plc, who thereafter are obliged to develop a circa 100,000 sq ft Foodstore within the coming years. It has been extensively recorded within the media over the last few years of the change of emphasis being applied by the nation s premier Foodstore operators and thus we are presently in dialogue with Sainsbury as it may wish to reorganise the present arrangements in respect of its development requirements for Llantrisant. This is temporarily affecting progress with the development of the second phase at Talbot Green where we anticipate constructing approximately 350,000 sq ft of Shopping and Leisure space recognising the demand that has been expressed by many National Retailers who wish to come to the Llantrisant area. Outwith our future Shopping Centre, the joint venture with partners at Valad Europe Talbot Green Developments Limited (TGDL) controls substantial areas of residentially designated land in Llantrisant owned by the Welsh Government. Thus we are working with them to secure formal Planning consents in the years ahead, allowing TGDL to then benefit from profit-share arrangements generated from eventual sales. GDV: 90 million Development site: 20 acres Joint Venture with Valad Europe Group

14 26 27 Scotland: Rosyth Waterfront, Fife Situated on the northern shore of the Firth of Forth, Rosyth Waterfront occupies a magnificent Gateway position with prime visibility from the new second Forth Road Bridge Crossing which is due to open in May 2017 as well as having access to the M90 from junction 1. It is to be remembered that the Group s involvement with Rosyth stretches back some twenty years having in past times developed new Office accommodation and Warehousing units on the Europarc section of the Estate. In conjunction with our partners Muirs, we are progressing pre-development activities to develop 135 acres of the Estate with a Mixed Use Masterplan incorporating a Waterfront Village comprising Residential homes and adjoining amenity space alongside Offices, Warehousing and Industrial accommodation. Scotland: The Curve, Buchanan Gate, Glasgow The Business Park at Buchanan Gate has been developed by the Group over a number of years. The Business Park is prominently situated near to the M80 Motorway, around ten miles from Glasgow City Centre. Our intended project will provide much needed Grade A Office accommodation to an area where there is continued demand. A new Application has recently been submitted with a view to construction of the Office scheme being underway by mid 2017 and ready for occupation during GDV: 200 million Development site: 135 acres Joint Venture with JW Muir Group plc GDV: 7 million 30,000 sq ft office building

15 28 29 North Wales: Marina Quay, Rhyl South Wales: Station Quarter, Newport Construction operations are underway on site for the staged development of 132,000 sq ft of Retail and Leisure space within the Marina Quay area of Rhyl. Enabling works and Phase One building activities with a pre-let in place to The Range, Farmfoods, Poundland, Burger King and Greggs should see Practical Completion achieved around mid Funding from our partners Investec has been agreed and within the next two to three years we envisage all Phases of Marina Quay including a Foodstore and Retail Store, together with fast food facilities will have been developed and become operational. SDG successfully completed last year the development within the Station Quarter complex of a prime Office building of 80,000 sq ft leased to Admiral Insurance and thereafter sold the investment to a USA Institutional Fund. Since then we have been progressing a second Office building of some 50,000 sq ft over six floors which received Planning consent earlier this year and where terms of letting are at an advanced stage for the majority of the building to be occupied by the University of Cardiff. Additionally at Station Quarter SDG is progressing the upgrading of the existing Retail and Leisure space, parts of which already have pre-lets in place to Leisure users. It is anticipated that between now and 2018, upgrading of the whole of our Station Quarter complex including new buildings will have been completed. Completion: Mid ,000 sq ft of retail & leisure Phase 2 completion: 2018 Prime office building: 50,000 sq ft

16 30 31 Preston: Blackpool Road Scotland: Dalgety Bay, Fife Vacant possession of the premises on SDG s Blackpool Road site previously leased to Perry s Group was achieved in mid 2016 and we are now in dialogue with the Local Planning Authority with a view to undertaking a new Retail development scheme, likely to comprise of a 15,000 sq ft Foodstore and circa 25,000 sq ft of non-food space. A gateway development situated on a key route into a highly regarded Fife town. The project has planning for an Aldi Foodstore, a Marston s family pub and 14,000 sq ft of Retail and Commercial space with construction commencing this year. Foodstore: 15,000 sq ft Non-food space: 25,000 sq ft Development site: 4 acres Completion date: Autumn 2017 Joint Venture with JW Muir Group plc

17 Our Partners & Financiers Strategic Co-Investing Partners Listed on the Mainboard of the SGX-ST in 1973, Metro Holdings was founded in 1957 by the late Mr Ong Tjoe Kim. Starting out as a textile store on 72 High Street, Singapore, Metro has grown over the years to become a property development and investment group with a broadened and diversified asset portfolio, backed by an established retail track record, with a turnover of S$145.8 million and net assets of S$1.4 billion as at 31 March Leeds: Scott Hall Park Today, the Group operates two core business segments property development and investment, and retail. It is focused on key markets in the region such as the People s Republic of China, Indonesia and Singapore. The Group has also expanded its geographical presence to the United Kingdom. Metro has already invested or committed to invest over 50 million into Scarborough projects in Manchester and Sheffield. Scott Hall Park is a 1.97 Ha site prominently located on one of the main arterial routes into Leeds City Centre. This mixed use scheme comprises of 18,000 sq ft food retail, 14,000 sq ft A1 retail, a café unit and up to 40,000 sq ft of industrial space. Retail space: 32,000 sq ft This 12.5m (GDV) scheme will regenerate a brownfield site located on one of the busiest commuter routes in Leeds and create a new out of town retail destination for commuters and local residents. Industrial space: 40,000 sq ft Construction is expected to be on site in early 2017 on a speculative basis. Hualing, established in 1988, is a private group based in Urumqi, Xinjiang, China. The Group mainly operates in the fields of construction, managing and renting of trade centres, wholesale markets and hotel construction and management. It is also engaged in foreign trade, the development of a modern livestock industry, mining, foreign resources, project development and is the largest shareholder in a bank in Georgia. Their total gross assets are approximately USD3 billion, with a net value of USD1 billion. Hualing have already invested or committed to invest over 30 million into Scarborough projects in Manchester and Leeds. Legal & General Investment Management (LGIM) is the investment management arm of Legal & General Group, a FTSE 100 company. LGIM is one of Europe s largest institutional asset managers and a global investor, with a heritage dating back to LGIM manages 499 billion in assets for more than 3,000 clients. It has a specialist real estate investment and management division and is a major investor in UK real estate. LGIM are the Group s joint venture partners for Thorpe Park, Leeds and have committed 150 million project finance.

18 34 35 The JW Muir Group plc is a family owned business, headed by the Group Chairman and founder John Muir. The group is involved in projects across the development spectrum and has a reputation for quality and client focus. The Group employs net assets of around 67 million with an annual turnover exceeding 93 million and a current property value of approximately 30 million. Valad Europe is a leading European multi-let real estate investment manager specialising in multi-let commercial properties in the UK and Continental Europe. Valad has 5.3 billion of assets under management, of which 1 billion is held in development projects. Strategic Lending Partners Investec is an international specialist Bank and Asset Manager that provides a diverse range of financial products and services to a niche client base in three principal markets in the UK, South Africa and Australia. Santander UK plc is a UK bank, wholly owned by the Spanish Santander Group. Santander UK plc manages its affairs autonomously with its own local management teams responsible solely for its performance. Santander provides debt finance for the Group s investment portfolio and development finance for the Hat Box Residential project in Manchester. Strategic Construction Partners Beijing Construction Engineering Group Co., Ltd (BCEG) was founded in Over the past 60 years, it has been a constant leader in the industry and has become a conglomerate that is competitive in the global market. The BCEG is a Global Top 225 international Contractor, a China Top 500 Enterprise and China Top Ten International Contractor. Its Beijing Construction Engineering brand is well established. Its annual projects completion amounts to 3 million sq m. GMI was formed in 1986 and has grown to become a well-established, successful building and construction services company with a proven track record for delivering award winning projects for an international portfolio of developers, public sectors and blue chip companies. GMI is a long-standing partner of SIPL and the wider Scarborough Group. Strategic Government Department Partners A commercially focused department of HM Government, the UKTI team brings together private sector capital and UK projects and businesses. In particular they are mandated to drive the delivery of major regeneration schemes in the UK, which bring forward housing, infrastructure and substantial job creation. The local authority for the City of Leeds in West Yorkshire. Leeds is a City of approximately 800,000 people and contributes over 20 billion per annum to the UK economy. Leeds is one of the key cities in the UK Government s Northern Powerhouse initiative, which will result in major regeneration, housing delivery and job creation projects. Leeds City Council is a vital partner for the delivery of Thorpe Park and future projects in the region. The LEP s purpose is to unlock the Leeds City Region s vast economic potential by enabling businesses and enterprise to thrive. Working with public and private sector partners, the LEP provides support and funding to help businesses grow, attract new investment to the region and develop the skills, energy and digital infrastructure to create jobs and prosperity. Manchester City Council is the local government authority for Manchester. It manages planning policy and permissions, the provision of public services and promotes inward investment to the region. Manchester is a city of over 520,000 people and Greater Manchester over 2.7 million. As a city, Manchester contributes circa 16 billion per annum to the UK economy and is a key city within the Northern Powerhouse. Salford City Council is the local authority for Salford, a city and metropolitan borough of Greater Manchester. The population is over 200,000 and is now home to the BBC (the UK s national broadcasting body), as well as renowned education establishments. The Middlewood Locks project sits within Salford City. The city council for the City of Sheffield in South Yorkshire, SCC has been a long-term strategic partner for SIPL, given its historic activity in the City. Sheffield s population is over 560,000 and the City contributes over 11 billion per annum to the UK economy. It enjoys a long track record for educational excellence and forging international investment partnerships. Sheffield is a leading location in the UK Government s Northern Powerhouse. Established in 1999, The Welsh Government is the devolved Government for Wales consisting of The First Minister, Welsh Ministers and Deputy Ministers and The Council General. The Welsh Government are separate from The British Government and can develop and implement policy for Wales, set up governance of key areas such as the healthcare, education and Local Government and propose Welsh Laws. The Welsh Government has an annual budget of over 15billion which it has complete discretion over. They are working with us on the development at Talbot Green, Llantrisant.

19 London 9/10 Carlos Place, Mayfair, London W1K 3AT +44(0) Leeds 3150 Ground Floor Right Hand Side, Century Way, Thorpe Park, Leeds LS15 8ZB +44(0) Edinburgh 18 Walker Street, Edinburgh EH3 7LP +44(0) Manchester 2nd Floor Bass Warehouse, 4 Castle Street, Manchester M3 4LZ +44(0) manchester@scarboroughgroup.com Sheffield Bramall Lane, Sheffield S2 4SU info@scarboroughgroup.com Scarborough Europa House, 20 Esplanade, Scarborough YO11 2AQ +44 (0) europa@scarboroughgroup.com scarboroughgroup.com