Thesis
In disadvantaged neighbourhoods – where there are high levels of unemployment and low rates of economic activity – the physical condition of buildings tends to decline, with little incentive in the area for investment.
However, by developing unused (or under-used) sites into flexible workspaces and industrial units, we can support SMEs and large businesses, and subsequently, drive much-needed employment generation and economic growth within the local community. In many cases, there is also the opportunity to refurbish or rebuild to higher sustainability standards, benefitting the environment and the well-being of those working in the property.
Investment
New Lane, Havant is a 16.5-acre site comprising a range of warehouse and ancillary buildings totalling 295,000 sq. ft. With strong demand for good quality industrial units due to the growth in online services, our aim is to develop a sustainable urban logistics facility. The development will enable an estimated 900 jobs, providing employment around Leigh Park in Havant, an area that includes some of the most underserved wards in the country.
Outcomes
Estimates suggest that three times more employees will be working on site, following the loss of around 270 jobs when previous tenant Pfizer relocated to Belgium. The development is also targeting BREEAM ‘Excellent’ and EPC A ratings via measures like roof-mounted photovoltaics, electric vehicle charging infrastructure and an energy-efficient building envelope, which are expected to reduce the impact on the environment and utility costs to the prospective tenant.
