Airline giant Virgin Atlantic has signed a deal to lease the whole of Abstract’s 110,000 sq ft Leonardo development in Manor Royal, just south of Gatwick Airport.
The deal - one of the biggest in the South East office market this year - follows Virgin Atlantic’s return to profit in 2014 and represents a major letting coup for Abstract, which only started building the speculative office scheme in late 2014.
Virgin Atlantic has entered into an agreement for lease to occupy the whole of Abstract’s Leonardo development in Manor Royal, just south of Gatwick Airport.
The move follows Virgin Atlantic’s return to profit in 2014 and represents a major letting coup for Abstract who only started their speculative 110,545 sq ft Grade A office scheme late in 2014.
It is intended that Virgin Atlantic will relocate to the new building from its existing Head Office in Crawley Business Quarter during 2016. This building will provide complementary functions to the airline’s other building, The Base, in Fleming Way, which it will continue to occupy/own
Leonardo is due to complete at the end of 2015. Abstract will work with Virgin Atlantic to complete a bespoke fit out during early 2016 prior to occupation and the airline will take a 16.5 year term from 1 April 2016.
Mark Glatman, Chief Executive of Abstract, commented; “We are delighted that Virgin Atlantic have committed to our most recent scheme and this letting reflects our totally occupier focused approach to office development where we continue to deliver great quality Grade A space from a user perspective.
“We are confident that this building will be a great asset to the Virgin brand and will be a brilliant place to work at a time when the airline is going from strength to strength.
“It is the occupiers who we work with who remain our principal focus and who are absolutely critical to the success of all our developments throughout the UK. The fact that Virgin Atlantic can relocate into such an efficient building delivering a significant reduction in property costs underlines what we at Abstract are looking to deliver.”
Abstract has been one of the most active office developers in the UK over the last 3 years delivering close to a million sq ft of new Grade A office space in Croydon, Aberdeen, Glasgow and the Leonardo Scheme near Gatwick.
Phil Maher, Virgin Atlantic’s Executive Vice President, Operations, said:
“We are excited to announce that we have chosen the Leonardo development as our new Head Office building. We will be working with Abstract on the building design so it truly embodies Virgin Atlantic. Harnessing the latest technology will give us the opportunity to create a dynamic and flexible workspace fostering collaboration and creativity. The Leonardo building is being built to excellent standards with superior heating, cooling and lighting systems to bring the best working experience to our support teams.”
Christopher McPherson, Abstract's Development Director said, “It has been a delight to work with the whole Virgin Atlantic team in this process, and both our organisations are completely aligned in our focus on customer satisfaction and delivery. We build great quality and highly efficient space with excellent environmental credentials which leads to much lower running costs against older offices, as evidenced by the success of our recently completed developments as well as our 170,000 sq ft. St Vincent Plaza scheme which is on track to complete this Summer and where interest levels are very strong.”
The Leonardo Building is arranged over four floors each of around 28,000 sq ft on a site of 3 acres. Quoting rent is £23 per sq ft.
Joint agents for The Leonardo Building are Knight Frank, Savills and Stiles Harold Williams. Savills has been retained to sell the resultant investment.
For more information visit www.theleonardobuilding.com CGI shows: The Leonardo Building, Crawley
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For media information, please contact Pauline Gregory on
07833 490964 / pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 / lisa@skylarkpublicrelations.com
Joanne.foster1@fly.virgin.com or 01293 747373
Abstract Securities the developers of St Vincent Plaza, Glasgow’s newest speculative commercial office development is donating much needed funding for a new garden project that is being created for the patients of St Vincent’s Hospice in Renfrewshire.
St Vincent’s Hospice have for many years, aspired to create a community garden at the rear of the hospice. Recently they received funding for landscaping, but they still need to raise funds for pathways, plants and a sheltered seating area where patients, their families and the local community can enjoy the gardens. Archie Blair of Abstract Securities commented on the donation: “As we share a similarity in name, our St Vincent Plaza development team is helping the Hospice with a £1000 donation that will go to buy plants for the new garden project. We hope that our contribution will make a difference to the patients and families cared for by the Hospice.”
Archie Blair of Abstract Securities, the developer of St Vincent Plaza with Katrina Vine a volunteer from St Vincent’s Hospice at the St Vincent Plaza, Glasgow site. The St Vincent Plaza development team has donated £1000 to the St Vincent’s Hospice community garden project that launches this month.
Kate Lennon, CEO of St Vincent's Hospice added: “We are grateful to Abstract Securities for their kind donation. The generous support from companies like Abstract Securities ensures that St Vincent’s Hospice continues to care for more patients and their families in the local community”.
St Vincent Plaza is a landmark development in Glasgow and will be one of the key elements in the next phase of Glasgow’s IFSD on completion in June 2015. It will be the most cost effective new build office developments in the City and in the UK with rents at just £23 per square foot. Visit www.stvincentplaza.com for more information.
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Further information from Pauline@skylarkpublicrelations.com / 07833 490964
Mark Glatman’s Abstract Group, acting as Development Manager at Aberdeen International Business Park (AIBP) for its client Fornebuporten UK AS (a subsidiary of Norwegian investment company Aker ASA), has announced that it has completed and handed over Phase 1 of the Park, on time and on budget, on 20 February 2015.
As well as having been completed and handed over exactly on schedule, there were no accidents on site, no days lost in construction and just seven snagging items across the 335,000 sq.ft development. The development has achieved BREEAM 'Excellent' and EPC 'A' ratings and was completed in just 84 weeks including a complex category B fit out.
Phase 1 of AIBP was let to Aker Solutions in what is believed to be Scotland's biggest ever single office letting deal, and the resultant investment was sold to Legal & General. Phase 2 is now underway with Savills and CBRE newly appointed as agents, joining Knight Frank. The second phase will comprise a series of office buildings available on a 'design and build' basis, ranging from 50,000 sq. ft. up to a total of 530,000 sq. ft. as well as at least one hotel, for which Abstract is currently in discussions with an operator. Short term flexible office space ranging from 20-80,000 sq. ft. is also immediately available to let.
AIBP's site contractors were Bowmer & Kirkland and its architect was Keppie Design. Other consultants included Turner & Townsend (project managers), DSSR (M&E engineers), Mott MacDonald (engineering consultants) and Turkington Martin (landscape architects).
The 40 acre office park is located immediately opposite the entrance to Aberdeen Airport on Dyce Drive, approximately six miles to the North West of Aberdeen City Centre. The strategic importance of AIBP is further highlighted by the start of works to the long-awaited Aberdeen Western Peripheral Route (AWPR) and the associated six-lane Link Road (running immediately adjacent to the site) between the AWPR and the Airport. The AWPR is due for completion in late 2017 (earlier than expected) and will link the Airport with the City Centre and the established Western side of Aberdeen. The Link Road, together with the AWPR, will truly transform this location and create the leading non city centre business location.
The AWPR will also be supported by new infrastructure put in place by Abstract, including a new spine road joining Phases 1 and 2 of AIBP and the Link Road. Work on this new infrastructure will begin in Q2 of this year.
Commenting on the handover, Mark Glatman, Chief Executive of the Abstract Group, said: “On 20 February we handed over Phase 1 of AIBP, on time - in just 84 weeks - and on budget, having operated a completely safe site and with just seven snagging items, which, over a 335,000 sq. ft. complex build that incorporates a large number of office, leisure, and lifestyle elements, is an achievement that everyone involved in the development can be extremely proud of. The environmental criteria of BREEAM ‘Excellent’ 2011 and EPC ‘A’ are also amongst the highest of any building in Scotland. To build on this scale and in the often difficult weather conditions that we've experienced in the past months is challenging, but I am delighted to say that we completed and handed over on schedule and now look forward to starting work on the infrastructure that is planned for Phase 2.”
Adam Kerr, Head of Annuity Transactions at Legal & General Property, which purchased Phase 1 on behalf of its annuity fund in Aberdeen's largest single office deal said: "The buildings were effectively delivered comfortably ahead of the target practical completion date, as evidenced by the short list of snags. Abstract have a strong reputation for delivering top quality buildings highly efficiently and this development has been no exception. We are delighted with the investment and the Development Team deserve congratulations on this considerable achievement."
For information on Aberdeen International Business Park, please visit www.aibp.co.uk/ -Ends-
Image shows: Aberdeen International Business Park
For media information, please contact Lisa Mennie at Skylark PR on 07825 225 414 / lisa@skylarkpublicrelations.com
The developers of the Leonardo office site on Manor Royal have today made their commitment to the Crawley promise.
Abstract Group and Bowmer & Kirkland, now two new developer partners of the Crawley Charter, are constructing a brand new four- storey 109,685 sq ft office building in the heart of Manor Royal’s Crawley Business Quarter.
The site offers open plan flexible floor space, capable of providing office accommodation for up to 1,675 people.
Bowmer & Kirkland made its promise by signing the council’s Crawley Developer and Partner Charter.
Signed by Andy Lomas, Contracts Manager for Bowmer & Kirkland and Cllr Peter Smith, Cabinet member for Planning and Economic Development, the charter encourages developers, their contractors and council partners to make the most of all the opportunities for local people and businesses.
Speaking at the signing, Andy Lomas said: “It’s a pleasure to be involved and improve the overall image of the construction business, we are looking forward to working with Crawley Borough Council on this project.”
Christopher McPherson, from Abstract Group, added: “We are delighted to be a part of this project and take advantage of the prime location and diversity of business that Manor Royal offers.”
Once signed up, developers and partners will need to demonstrate their willingness to employ local people, create local supplier opportunities and contribute to raising skills for people in the area.
Examples include committing to providing apprenticeships, promoting opportunities for local businesses to provide services and materials, keeping local people well-informed, supporting local initiatives and working closely with local organisations like Central Sussex College and secondary schools to promote the value of skills and training.
Cllr Peter Smith said: “We are very pleased to be working with Bowmer & Kirkland and Abstract Group on the Leonardo Building.
“This is an exciting new initiative that will add to the attractiveness of Manor Royal as a place to do business and we are particularly enthusiastic about having both companies sign up to the charter.”
