WORK IS WELL UNDERWAY ON CAMBERLEY’S FIRST SERVICED APARTMENT SCHEME

Developers, TA Fisher, are more than halfway through the re-development of the former office property, Central House, Park Street, Camberley, which previously provided office accommodation on first, second and third floors.  TA Fisher bought the property in about September 2010 and immediately set about obtaining planning permission for the development of the serviced apartment scheme.

D B Real Estate, acted for the previous owners and more recently acted for TA Fisher, providing expert advice in connection with the successful planning application for the new scheme.

D B Real Estate has been retained to provide expert advice in connection with four different and successful planning applications for change of use away from offices in recent months.

For further information regarding the above or to discuss any planning applications for change of use please contact the Camberley office of D B Real Estate.

GREEN LIGHT FOR MASSIVE TESCO WAREHOUSE

Tesco has received planning consent for a 900,000 sq ft distribution warehouse at Whitely, South Reading on the site of the former Courage Brewery, which overlooks Junction 11 of the M4.  Anyone who travels on the M4 will immediately recognise the site as the location of the huge wind turbine which sits next to the M4.

Both Reading and Wokingham Borough Councils’ planning committees approved the scheme as the site straddles both boroughs.

The aim is to open the warehouse by Christmas 2012. James Wiggam of Tesco said: “We are proud to be able to bring jobs and investment to Reading. We have worked closely with the local community and council to develop these proposals and have been overwhelmed by the positive response to them.”

It is estimated that the site will create 1,000 jobs in the area and the construction phase of the project would also provide more than 150 jobs.

The distribution warehouse will be built to BREAM Excellent standards.

SHARPS BEDROOMS LTD MOVE INTO CAMBERLEY TOWN CENTRE

Acting on behalf of Symyx (now Accelrys), DB Real Estate can announce that Sharps Bedrooms Ltd, have taken nearly 6,000 sq ft of leasehold office space within Norwich House, on Knoll Road, Camberley, proving that you should never give up marketing premises, even when there are only a few months to run before a lease expires!

Symyx hold a lease which expires in March 2012, but the space was surplus to their needs, so earlier in the year Gerald Eve and DB Real Estate were instructed to try and dispose of the space, a very difficult task with only a short lease left to run.  However, DB Real Estate identified Sharps Bedrooms and agreed a short term sub-letting and a simultaneous new lease direct from the landlord.  The letting was agreed and documented in double quick time and Symyx, the landlord and Sharps Bedrooms are all delighted with the outcome.

Symex have made savings that they were never expecting whilst the landlord has a new occupier and Sharps Bedrooms have great new office space.   

For further information please contact the Camberley office of DB Real Estate on (01276) 538300.

SUN PARK IS LAUNCHED

DB Real Estate can confirm that the former HQ of Sun Microsystems, at Junction 4a of the M3 Motorway, has been launched by property companies, Landid and Delancey as Sun Park, providing up to 284,500 sq ft approx. of Grade A office space.

Sun Microsystems moved out of the whole facility earlier in the year, when Sun were taken over by Oracle and shortly after this the whole site was bought by  Landid and Delancey who are now offering the office space to potential new occupiers.  The existing space is provided in three buildings and represents the largest single available space in the Thames Valley at the present time.  The owners are happy to speak to any potential occupiers looking for plus of 20,000 sq ft approx.

The site also incorporates existing on-site facilities which include a restaurant, a gymnasium, several coffee bars and plenty of attractive outdoor areas.

Sun Microsystems originally intended to build up to 400,000 sq ft but they never completed the final phase and so there is scope to build a further 112,000 sq ft on site. 

There have been various rumours over the last few months about the whole site, at one point it was suggested it might make a suitable site for a huge warehousing scheme and another suggestion is that some form of residential development might be proposed for the uncompleted final phase.  Whatever does happen, one thing which is certain is that this site will play a significant part in the property market for quite a number of years!!

For further information about Sun Park please contact the Camberley office of DB Real Estate on 01276 538300

RENESAS TAKE 33,000 SQ FT OF OFFICES IN FARNBOROUGH

DB Real Estate can confirm that Renesas Electronics Corporation have taken a new 10 year lease on 33,000 sq ft of office space at Cody Technology Park, Farnborough from Qinetiq, the recently privatised defence contractor who have some 2 million sq ft of space at Cody Technology Park, which is adjacent to Farnborough Airport.

Renesas Electronics recently bought the baseband modem business of long-time technology partner Nokia for $200m and this resulted in the need for office space in the area but away from the existing Nokia HQ at Southwood, Farnborough. 

We are advised this is the company's most ambitious business move since it was formed by the merger of the Renesas Electronics and NEC semiconductor businesses, last year.

Renesas are paying £13.50 per sq ft and took on a 10 year lease with a break clause at the end of year 5.  Renesas were also given a 16 month rent free period.

For further information please contact the Camberley office of DB Real Estate on 01276 538300 or send an e mail to info@dbre.co.uk

THE CHANGING FACE OF CAMBERLEY

For some years now we have been faced with a huge supply of vacant office properties in Camberley town centre peaking at 208,000 sq ft which represented approx. 57% of all the office space in the town centre! 

With growth in the UK economy slowing and problems persisting in the global economy there was little prospect of all the vacant space being occupied in the near future.  Clearly something had to change. 

Well, at last, the situation is changing and anyone visiting Camberley will have seen scaffolding being erected, building materials being delivered and cranes on the skyline.

Four schemes are currently under construction in Camberley town centre with a fifth due to start; the old Sun Microsystems office, Sun House, on Pembroke Broadway has gone and a Travelodge budget hotel and three restaurants are being built.  The former St Georges Court office, once occupied by Nokia, in the High Street is being converted into 23 flats and Central House, another former office building, on the corner of Park Street and Pembroke Broadway, is being converted into serviced apartments.  Valzan House in London Road, an office again, has been given the go ahead to be converted into nine flats. 

In all 68,000 sq ft of office space has been taken out of the oversupply, reducing the amount of space available to 140,000 sq ft although this still represents 38% of all the office space in the town centre.

Finally, the former Sandhurst Tup public house on the corner of Park Street and London Road has gone and in its place a new Premier Inn budget hotel and three restaurants are being built.

Camberley is changing and these are positive changes which can only help the town grow and prosper.

For further information please contact the Camberley office of DB Real Estate on 01276 538300 or by e mail – info@dbre.co.uk

NEVER GIVE UP!

DB Real Estate can confirm that Speymill Contracts Ltd have taken an office suite of 800 sq ft in Admiral House, Camberley, where there is just 12 months left until the tenants headlease expires.

DB Real Estate act for Logica who hold the headlease until the end of June 2012.  Recognising that Speymill had won the tender to build the new Premier Inn next door, DB Real Estate approached Speymill to suggest they could take office space next door at Admiral House, for their works office rather than pay for Portacabins on site. 

Speymill decided this was a good idea and took a self-contained office on the ground floor until June 2102.  This does show that you should not give up, there are always short term requirements around, sometimes it is more a question of un-earthing them.

DB Real Estate acted for Logica whilst Speymill represented themselves.

For further information please contact the Camberley office of DB Real Estate on (01276) 538300