ABSTRACT WINS COSTAR AWARD
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RENAISSANCE CROYDON – 100,000 SQ FT OFFICES FULLY LET
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Legal and professional services organisation Parabis has leased the remaining office space in the Renaissance office development in Croydon comprising the ground and third floors and totalling 37,125 sq ft.
The news follows the announcement in May that Mott MacDonald, have taken 20,997 sq ft, comprising the entire fourth floor.
Parabis and Mott Macdonald join The Board of the Pension Protection Fund who took 40,241 sq ft in the building in May 2013.
Renaissance, the first speculative office in Croydon for around 20 years, was completed in November 2013 by Mark Glatman’s Abstract Securities who sold the office development in Dingwall Road, three months ahead of completion, but retained a marketing role working closely with the new owners, M&G Real Estate.
Abstract’s Development Director, Christopher McPherson, commented: “Renaissance has been a success story for Croydon and for Abstract. We not only identified an opportunity at a time where others doubted the potential, but we moved swiftly to invest and to deliver a great product which is completely in tune with occupier sentiment as evidenced by fully letting 100,000 sq ft of offices within 10 months of completion.’’
Mark Glatman said: ‘’The success of our Croydon scheme vindicates our ‘uncompromising value’ approach to development and, with the same rationale being adopted at our St Vincent Plaza scheme in Glasgow and Leonardo scheme near Gatwick, we remain optimistic. These schemes offer the most cost effective new build Grade A office space in the UK bar none and, together with good environmental credentials, low running costs and efficient densities of occupation, will be significantly more economical to occupy than most older offices – tenants can actually save money by moving into a brand new Abstract building’’.
Renaissance provides 100,000 sq. ft. of 'Grade A' office accommodation comprising five floors offering flexible floor plates of 20,000 sq. ft. The building is one of the first speculative builds in the UK to achieve a BREEAM (2011) 'Excellent' standard and recently won a national award for Sustainable Achievement.
Knight Frank and Sinclair Clark are retained in a letting capacity.
For more information, please contact:
Mark Glatman
T: 0207 747 8272
E: mark.glatman@abstractsecurities.com
Christopher McPherson
T: 020 7747 8282
E: christopher.mcpherson@abstractsecurtiies.com
AKER SOLUTIONS TO LEASE 335,000 SQ FT AT ABERDEEN INTERNATIONAL BUSINESS PARK
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Abstract has confirmed that it has concluded an agreement for lease with Aker Solutions ASA to take the whole of the First Phase of the Aberdeen International Business Park comprising 3 interlinked buildings totalling 335,000 sq ft. It is believed that this is the largest office leasing deal ever in Scotland.
Abstract via a special purpose vehicle, Abstract (Cornwall) Ltd is developing the Aberdeen International Business Park on behalf of Aker ASA (the listed Norwegian Investment Company). The Business Park comprises a 40 acre site opposite the entrance to Aberdeen International Airport. When completed the Business Park will comprise of approximately 1,000,000 sq ft of offices and is likely to include at least one hotel.
The first phase of the development comprising 3 interlinked buildings with supporting infrastructure and parking for approximately 1,200 cars will be occupied by global oil services company, Aker Solutions, from completion in February 2015. The buildings are designed to accommodate around 2,400 employees and besides a variety of catering options, the first phase also includes a gym, a sports hall, 2 squash courts, a medical facility, a nursery/crèche and a shop. The buildings are designed to achieve BREAAM Excellent 2011 - EPC ‘B’ and will offer the highest specification of any offices in the Aberdeen market.
Aker Solutions will be taking 20 year RPI leases on each of the 3 buildings with a combined rent role of approximately £7.74 million per annum. There will be an option to extend the leases for 3 further 5 year terms. The headline rent equates to £23.75 per sq ft.
Now that this letting is concluded, Abstract will be looking to bring forward the next phases of the Business Park at an early stage. Plans are currently under development for the next office building as well as the hotel.
Welcoming Aker Solutions Mark Glatman of Abstract commented “the position of the Aberdeen International Business Park adjacent to Aberdeen International Airport, the quality of the development and the developing local road infrastructure makes this Business Park an obvious and logical location for major international companies active in the Aberdeen Market. The facilities available to Aker Solutions staff within their buildings will be on a level with the very best of any office anywhere in the UK”.
For further information contact:
Mark Glatman, Abstract Group of Companies
T: 0207 747 8272
www.aibp.co.uk
ABSTRACT GETS GO AHEAD AT GATWICK
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Mark Glatman’s Abstract (Crawley) Limited has obtained detailed planning consent for its next highly competitive office development known as ‘The Leonardo Building’.
Abstract will commence the speculative construction of its latest Grade A office building comprising 110,000 sq ft together with over 300 plus car parking spaces in September 2014.
This news follows only eight weeks after completion of the purchase of 3.2 acres at Crawley Business Quarter in the heart of Manor Royal on June 11th. The site is the last undeveloped plot at Crawley Business Quarter just South of Gatwick Airport and opposite the offices of Virgin Atlantic and other business occupiers including Boeing, Elekta, and Doosan.
The scheme will comprise a TP Bennett design of four floors offering flexible, virtually column free, floor plates each of circa 28,000 sq ft. Completion is set for Q4 2015.
In line with all Abstract developments, the building will target a BREEAM 'Excellent' standard and an EPC B Rating together with a building design occupancy from 1 person per 6 sq m which will maximise the operational efficiency of the accommodation.
Mark Glatman, Chief Executive of Abstract Securities, said: “We are delighted to have achieved detailed planning consent so swiftly and this is very much in line with our philosophy of turning opportunity into reality as quickly as possible and providing ‘uncompromising value’ by delivering great quality Grade A office space at competitive rental levels into a market starved of supply. The Leonardo Building comes at a good time for the Gatwick office market, and, being located outside the boundary of the possible second runway, gives tenants absolute certainty about occupation whatever decisions are made about the potential extension of Gatwick.’’
Abstract’s Development Director, Christopher McPherson, said ‘’we have already had significant occupier interest in our proposal which is hardly surprising when we are delivering brand new, highly cost effective and environmentally efficient space at rental levels below that being achieved for second hand space in the locality. The accommodation has been designed to be very flexible and will appeal to a wide range of potential end users.’’
The building is one of several speculative office developments that Abstract Securities has recently undertaken across the UK.
Having completed the 100,000 sq ft ‘Renaissance’ development in Croydon in November 2013, Abstract is currently on site in Glasgow where it is speculatively building the 170,000 sq ft ‘St Vincent Plaza’ office development, due for completion in Spring 2015.
In conjunction with Aker ASA, Abstract is also currently developing 1 million sq ft offices at Aberdeen International Business Park, where the first phase of 335,000 sq ft is due to complete in February 2015.
Joint agents for Abstract are Knight Frank, Savills and Stiles Harold Williams.
For media information, please contact Lisa Mennie at Skylark PR on 07825 225 414 /
NEW LANDMARK BUILDING IN GLASGOW GETS ADVANCED AIR CONDITIONING SOLUTION BY TOSHIBA
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A new landmark building in the heart of Glasgow, St Vincent Plaza, is being equipped with an advanced Toshiba air conditioning system to deliver outstanding energy efficiency and comfort for occupants.
Designed to have a BREEAM rating of Excellent, the 10-storey iconic office development will be cooled and heated by a Toshiba 3-pipe SHRM-i VRF air conditioning system, with full heat recovery.
The striking granite and glass-clad building, by developer Abstract Group and main contractor Bowmer & Kirkland, will provide 170,000sq ft of Grade A office accommodation with panoramic views across the city. The state-of-the-art building includes shower rooms, changing facilities and secure internet shopping storage.
The Toshiba air conditioning is being installed by Castle Building Services of Hebburn, Tyne & Wear, as part of a £5m M&E contract. The contractor is installing 21 high efficiency Toshiba SHRM-i VRF systems, plus a twin-ducted system, providing simultaneous heating and cooling.
Excess heat generated in areas of the building subject to high solar gain or internal heat sources will be harnessed for use elsewhere, or used as energy to power cooling via a sophisticated thermodynamic conversion system.
The project required a combination of long refrigerant pipe runs, high SEER and SCOP values, and exceptionally quiet indoor fan coil units. The Toshiba solution selected was able to deliver all these performance criteria in a comprehensive and competitive package.
AIR CONDITIONING
Some 316 ducted fan coil units are being installed, linked to 41 outdoor condensing modules, with the system connected into the building’s BMS using Toshiba’s recently developed Black Pear interface.
The Modbus-based interface gives the building supervisor access to each fan coil, plus access to overall system timing schedules and temperature and air speed settings, enabling continuous optimisation of energy efficiency and occupant comfort.
Castle Building Services used Toshiba’s design and selection software, which takes into account system loading, pipe runs and design temperatures for summer and winter, to determine actual cooling and heating values for each of the building’s indoor units.
Allan Carr of Castle Building Services said: “It’s a great tool and helps in the development and validation of system designs. It shows how conditions can be precisely met with the equipment selected, and provides confirmation that the installed system will deliver as specified.”
The project marks a first for the contractor with Toshiba equipment. Mr Carr says: “We had initially considered going with a different manufacturer.
However, we were introduced to the latest Toshiba range just at the right time, and were very impressed with the quality of the technology and the company’s whole approach.
He added: “They were very responsive and provided excellent technical support. It has enabled us to deliver a high performance, high efficiency solution for the client, and opened some exciting new opportunities on the installation front.”
St Vincent Plaza is due to be completed in Spring 2015.
About Toshiba Air Conditioning
Toshiba Air Conditioning is a division of Toshiba Carrier UK Ltd, company registration No 3723803. Toshiba Air Conditioning provides sustainable solutions integrating energy efficient products for residential and light commercial customers.
CGI shows : St Vincent Plaza, which is being built at 303 St Vincent St by Abstract (Glasgow) Ltd.
For media information, please contact Lisa Mennie at Skylark Public Relations Ltd on 07825 225414 or lisa@skylarkpublicrelations.com
