£1M CASH INJECTION TO SPRUCE UP FARNBOROUGH SHOPPING AREA

Queensmead is getting a makeover with the pedestrianised shopping area in Farnborough set to benefit from a £1M investment and the the plans include new seating, pavements, trees and a market square.

The Queensmead refurbishment is set to cost £990,000, with £150,000 coming from developers through Section 106 funding. The project will see the council working with Hampshire County Council and liaising with KPI, the company that owns and manages the shops and flats in Queensmead.

The project is part of the wider regeneration of Farnborough town centre, which includes plans proposing more than £250M worth of investment over the next ten years. This is on top of the £150M already invested in The Meads project at the northern end of the town centre.
The first stage of the Queensmead refurbishment is due to begin later in the spring. Work is expected to be completed during 2012/2013.

David Quirk, Director of community and environment for Rushmoor Borough Council said: "We are delighted that Rushmoor Borough Council's Cabinet approved this vibrant scheme, which is a major step towards our vision for Farnborough. The refurbishment of Queensmead will greatly improve the feel of the town centre and make it more pleasant and attractive to shoppers and new businesses alike."

For commercial property advise in the area contact DB Real Estate on either 01276 538300 or 01483 340000

SEGRO SELLS IQ FARNBOROUGH FOR £90.1M

DB Real Estate can confirm that property company SEGRO, has sold the entire IQ Farnborough, which is a mixed-use business park immediately adjacent to the Farnborough Airport, home to the Farnborough Airshow, for £90.1M

IQ Farnborough is the first of SEGRO’S six large non-strategic assets to have been sold since being highlighted as non-core at SEGRO’S Investor Day in November 2011.

The disposal has been structured in two parts. The existing built assets and 18 acres of development land have been sold to a joint venture between funds advised by Harbert Management Corporation and XLB Property as asset manager, for £79.7M.

In addition the sale of 11 acres of development land to two future owner-occupiers for £10.4M has been agreed. These latter sales are conditional upon receipt of planning approval and are expected to be finalised by the end of the year.

For more information, details of the income generated, etc., or for general commercial property advice please contact DB Real Estate on 01276 538300.

HAT TRICK AT GOLDSWORTH PARK

DB Real Estate is delighted to announce the details of three lettings at the Goldsworth Park Trading Estate, Woking totalling 36,750 sq ft.   Semmco Ltd has taken Unit 9; Greenjackets Roofing Services Ltd has taken Unit 5 and Geo Amey PECS Ltd has taken Unit 8.  Each unit provides approx. 12,250 sq ft and each has been let on a ten year lease.

Nigel Dickason at DB Real Estate, said “this is great news for Woking and the Goldsworth Park Trading Estate and we are confident these companies will attract further occupiers to both the estate and Woking in general, creating more jobs for the local area.  This is huge vote of confidence for the Goldsworth Park Trading Estate which is continuing to attract occupiers even in this difficult economic climate”.

DB Real Estate, who act for the landlords LaSalle Investment Management Ltd, who manage the estate, also confirmed there were discussions on-going with a number of other occupiers for units on the Goldsworth Park Trading Estate but the estate could still accommodate occupiers with requirements from 8,000 sq ft to 25,000 sq ft.  The quoting rent has been set at a very competitive level of £7.50 per sq ft.

For further information please contact the Woking office of DB Real Estate on 01483 340000 or visit http://www.dbre.co.uk/