RETAIL, LEISURE & HOTELS. Kier Property

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1 RETAIL, LEISURE & HOTELS Kier Property

2 INTRODUCTION KIER PROPERTY INTRODUCTION INTRODUCTION The Property division is an integral part of the Kier Group and we are keen to utilise Group resources to continue to grow the business. Kier s Property division undertakes investment, development and asset management across a broad spectrum of property assets. Kier has built up an enviable track record of performance within the Retail market and our success is driven by determination not to overcomplicate the development process, and deliver against key milestones for occupiers and investors. The Retail & Leisure portfolio outlined in this brochure demonstrates our ability to add value in prime locations having successfully delivered several retail, leisure and hotel developments throughout the UK. Kier Property continues to expand and be inquisitive for new opportunities in these sectors throughout the UK. 02

3 KIER PROPERTY CONTENTS 01 Mannington Retail Park 4 02 Bell Green Retail Park, Sydenham 6 03 Waterfront Leisure, Walsall 8 04 Princes Gate, Catterick Travelodge, Hemel Hempstead Motel One, Newcastle Sovereign Square, Leeds Reading Civic Centre Old Battle Hospital Site, Reading Group Experience 22 03

4 KIER PROPERTY RETAIL, LEISURE & HOTELS 01_ mannington retail park The retail park was purchased in 2009 with the potential to redevelop for an open A1 retail warehouse scheme. Vacant possession was achieved of one terrace in 2008 and detailed planning consent obtained for redevelopment with an additional 20,000 sq ft of floor space. In early 2010, Heads of Terms were agreed with John Lewis at Home to take 60,000 sq ft (including 100% mezzanine). Planning consent was granted in April when demolition of the vacant units commenced. The John Lewis store opened for trade in late 2010 and has continued to be a successful store for the brand. Project Role: Mannington Trust c/o SWIP Swindon Developer 10m 04

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6 KIER PROPERTY RETAIL, LEISURE & HOTELS 02_ Bell Green Retail Park Sydenham The wider Sydenham site, totalling 13 acres, was purchased competitively from National Grid. Kier has since developed a 120,000 sq ft bulky goods retail park on the majority of the site. The remaining 2.5 acres has been developed speculatively for a high quality Trade City scheme, comprising 75,000 sq ft of trade counter industrial space. Sydenham has a large catchment area which has a limited supply of new, good quality industrial units and therefore this scheme caters to both local and national trade operators. Phase I of the development was constructed as part of the retail scheme and totals 19,000 sq ft over four units. These units were let to occupiers such as Halfords Autocentres and the Wolseley Group trading as the Plumb Centre. Phase II comprised the remaining 54,000 sq ft of space and 33 percent of the scheme was pre-let to a Mercedes Benz servicing centre. The remaining eight units were constructed with the absence of mezzanine space to give future occupiers flexibility for their trading requirements. Also as part of the development, a number of electrical car charging points were provided to encourage sustainable travel. Project Role: National Grid Bell Green, Sydenham Developer / Contractor 56 million 06

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8 KIER PROPERTY RETAIL, LEISURE & HOTELS 03_ waterfront leisure Walsall Kier plans to deliver this 65m waterfront development during 2015 & 2016, regenerating over 17 acres in Walsall. The 64,500 sq ft cinema element will be operated by The Light. The Light will bring fresh thinking to Walsall and perfectly aligns itself with the needs and aspirations of the local community ensuring a unique experience for all visitors, and will generate approximately 230 jobs. Leading food and beverage brands have also signed up, giving evidence of the strong appeal of the scheme and the exclusive waterfront location. Project Role: Walsall Borough Council Walsall Developer 65 million 08

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10 KIER PROPERTY RETAIL, LEISURE & HOTELS 04_ princes GATE Catterick Lingfield (Catterick) Ltd, is a joint venture set-up between Kier Property and Lingfield Securities in order to deliver a 25m new town centre scheme for Catterick Garrison. The 150,000sq ft town centre development commenced on site in May 2014 transforming the former sports ground on Gough Road and Richmond Road. Empire Cinemas will operate a state-of-the-art, sevenscreen cinema on the site, which will bring a new era of entertainment to the area. 80% of the retail space has been let to several well-known high street brands, as well as popular food and drink operators. A 60 bed hotel with associated car parking will also be situated on the site, just a few miles from the A1 and at the heart of the town. Project Role: Ministry of Defence Catterick Garrison Joint Venture, Developer 25 million 10

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12 KIER PROPERTY RETAIL, LEISURE & HOTELS 05_ Travelodge Hemel Hempstead The 3.5 acre former Royal Mail site in Hemel Hempstead, known as the Gateway is located just one mile from the M1 motorway and 2.5 miles from the town centre. The land is split into three phases. Kier has recently finished developing phase 1 of the 25m development project. Completed in July 2012, phase 1 included a pre-let 108 bed Travelodge, 4,000 sq ft Mitchells and Butler restaurant trading as Toby Carvery, a 1,000 sq ft Subway unit and a 1,000 sq ft Domino s Pizza takeaway restaurant. The investment was sold to LaSalle Investment Management in March The Travelodge was completed in record time using a Boxclever modular construction method and delivered in time for the Olympics The delivery of phase 1 represents the first step towards the regeneration of the Maylands Gateway in Hemel Hempstead as set out in the development brief for the area. The remainder of the site has outline planning permission for an office scheme which Kier hopes to implement in the near future, further adding to the employment-led regeneration of the area. Project Role: Travelodge / M&B / Subway / Domino s Hemel Hempstead Mixed use development 25 million 12

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14 KIER PROPERTY RETAIL, LEISURE & HOTELS 06_ motel one Newcastle Kier Property is currently building this 12m, 222 bedroom boutique Motel One hotel. With its retained façade, the new hotel block will be built onto Half Moon Court in Newcastle s High Bridge, bringing over 100 jobs to the area. Motel One is a Munich-based luxury budget operator with more than 40 hotels in Germany and Austria. They currently have three hotels in the UK and with the addition of Newcastle, plan to grow rapidly over the next five years. This scheme cements Kier s partnership with Motel One as they continue to help them deliver their growth aspirations for the future. Project Role: Motel One Newcastle Developer / Contractor 12 million 14

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16 KIER PROPERTY RETAIL, LEISURE & HOTELS 07_ 3 Sovereign Square Leeds Kier has created a joint venture with Bruntwood to deliver a 93,236 sq ft new build development in the heart of Leeds, known as 3 Sovereign Square. Leeds City Council granted planning permission in July 2014 enabling the partnership to commence the delivery of 80,000 sq ft of new office space and over 10,000 sq ft of new retail and leisure space. The construction of this new Grade A BREEAM Excellent development will transform this part of the city. It is due to commence on site in December 2014 and complete to a potential CAT B fit-out by mid The location is key, in a plan to connect the city core and the planned South Bank proposals, which include a new city park and a terminus for the HS2 eastern route. Project Role: Speculative Leeds Joint Venture, Developer / Contractor 30 million 16

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18 KIER PROPERTY RETAIL, LEISURE & HOTELS 08_ reading civic centre Kier was selected by Reading Borough Council as their preferred bidder to invest and deliver a mixed-use regeneration scheme on the former civic centre site in Hosier street, Reading town centre. This significant development opportunity will provide a high quality mixed-use scheme in the south west part of central Reading. The site, owned by the Council is situated on the edge of the core retail area and comprises approximately 2.1 hectares (5.2 acres) and includes the current civic offices. The site will be developed in line with, and to compliment the surrounding area, with a 120,000 sq ft anchor food store at ground floor level and approximately 350 residential units above. This high profile scheme, expected to progress in 2014/15 will see the site and area transform into a space which will be more inviting and accessible for the public. Project Role: Reading Borough Council Reading Developer / Partner 100 million 18

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20 KIER PROPERTY RETAIL, LEISURE & HOTELS 09_ OLD BATTLE HOSPITAL SITE Reading The scheme involved the development of 54 affordable homes and 11 open market apartments above a new 60,000 sq ft Tesco superstore. The former hospital site formed an important element of a wider regeneration programme to stimulate economic growth for the surrounding area. The programme for completion of the residential homes in relationship to the opening of the completed retail outlet was critical. Special attention to detail was required in respect of thermal and noise transmission issues, together with a co-ordinated fire strategy linking the retail store and the new homes. The project won the prestigious Housing Project of the Year at the Builder & Engineer awards. 20 Project Role: Southern Housing Group Reading Investor / Contractor 6 million

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22 KIER PROPERTY GROUP EXPERIENCE morrisons bathgate The project involved the phased design and construction of a new 62,000sq ft store with associated car parking, service yard and a petrol station. Unlike other supermarkets, this store was traditionally built with a steel frame, brick and block walls, concrete floors; terrazzo floor finishes and metal ceiling tiles. The store has an external curved canopy and a feature entrance tower, designed to create a more pleasing environment. Internally, the store features a customer café, a market street with deli, bakery, fishmongers and butchers, as well as staff areas including a café, cash office and laundry service. niketown Refurbishment of 2nd and 3rd floors of Nike s flagship Niketown store to provide additional retail space Complete strip out of all fixtures and fittings Formation of new opening in third floor slab to facilitate the installation of new escalators. Provision of retail space and fitting rooms on 2nd floor with a mixture of wall finishes to distinguish different specialist sport areas. Creation of new stock room, fitting rooms, customer and staff toilets, office, training room facilities, a CCTV equipped Loss Prevention Monitoring Centre, server/ comms room with associated M&E services provision and new cash offices with secure partitioning on the third floor. Both floors were stripped back to the concrete slab and finished with a reinforced oiled and polished concrete finish to simulate a sports court/pitch. The back of house areas were fitted with raised flooring. st thomas retail mall Design & Build project to strip out and reconfigure existing area to form airport style retail space and circulation areas for St Thomas Hospital. Extension to ground floor area to increase retail space from three units to five units. Provision of temporary trading units for use during the building works. Installation of new escape staircases. Refurbishment of circulation areas and toilet facilities with high quality finishes including stone floor tiling, integrated wayfinder lanterns, feature lightwall and four star toilet facilities. Installation of new bespoke reception and security desks with associated data and security feeds. Wm Morrison Supermarkets plc Nike Retail BV Guy s & St Thomas Trust Bathgate, Scotland Oxford Street, London London 9 million 4 million 3.26 million 22

23 KIER PROPERTY GROUP EXPERIENCE wolsey place This project was procured through the IESE Framework and was the second phase of work to provide Woking with a single redesigned and modernised shopping experience. The works included the refurbishment and increase in retail area as well as upgrading all of the public realm areas between the centres. The focal point of which was the redesigned main Town Square which has been transformed to provide a contemporary hub for the people of Woking enjoy. The works which form part of a wider on going scheme of improvements within Wolsey Place and Peacocks shopping centres included asbestos removal, demolition, structural alteration, new build superstructures and envelopes as well as extensive ground works and hard landscaping. During the works Kier maintained an appointed Neighbourhood Liaison Officer which provided a single point of contact for the general public, retailers, the church, centre management and council representatives. This liaison was critical to the success of the project and maintained communication between all stakeholders. cascades centre This negotiated project provided a redesigned and modernised shopping facility. The focal point of the redesigned shopping centre is the two storey mall and crescent shaped atrium with balconies and screens, which has transformed the centre. As part of the design and build element of the contract the existing atrium was filled in to create an additional 2,600m2 of mixed retail space and the new atrium formed by cutting into the floor slabs currently occupied by retailers. As the principal shopping facility in Portsmouth, the works took place in a fully functional retail centre and a confined environment. Midland goods shed Set to become a central part of a retail and restaurant destination for Londoners, the transformation of the Midland Goods Shed into prime retail space is being approached with sensitivity and precision. The development will include a 21,000 sq.ft. Waitrose supermarket as well as a state-of-the-art cookery school. The remaining area of the canopy and the first floor will be renovated into office space. The supermarket retail area will comprise shell and core finish and the offices will be fitted to CAT A standard. Targeting an Excellent rating for both BREEAM Retail and BREEAM Office, works will be sustainability focused. Woking Borough Council Railway Pension Nominees Ltd King s Cross Central Ltd Woking, Surry Eastleigh, Hampshire London 5.6 million 12 million 24 million 23

24 CONTACT_ Kier Property Ltd 6 Cavendish Place London W1G 9NB t w kier.co.uk w trade-city.co.uk