Property Pulse - 10th May 2020

A round up of some of the (mainly positive) main stories in the Property sector over the last week...

Cheltenham launches search for partner for ￡400m cyber park scheme

Cheltenham Borough Council is on the hunt for a development partner for its ￡400m Golden Valley development.

The mixed-use development will be home to Cyber Central, the UK’s first campus focusing on the cyber-tech sector. The scheme is spread across 500-acre site adjacent to GCHQ and would deliver more than 3,000 homes.

Next swoops in on empty Debenhams beauty halls for new concept

Next has signed new flexible leases to take over the existing beauty halls in Debenhams stores that are set to permanently close down in five Hammerson shopping centres.

The fashion retailer said these will be run as standalone Next premium beauty halls and the new concept will be complimented by its online beauty business.

The new concept stores will be launched in five Debenhams locations that are located within Hammerson-owned shopping centres: the Bullring in Birmingham, The Oracle in Reading, Highcross in Leicester, Silverburn in Glasgow and Centrale in Croydon.

CLI Dartriver makes London debut with city office

CLI Dartriver has completed the acquisition of Eldon House in the City of London for around ￡40m.

 The 34,000 sq ft building was bought from UK Commercial Property REIT, a listed FTSE 250 company managed by Aberdeen Standard Investments.

Britain’s biggest road project opens to traffic eight months early

The ￡1.5bn A14 Cambridge to Huntingdon scheme is opening for traffic eight months ahead of schedule.

Essential work on the upgrade has continued throughout the coronavirus outbreak, with new sections of road opened as quickly as possible, to ensure vital goods were able to travel through.

Argent plans 155-metre Birmingham skyscraper

Argent has revealed plans for a 155-metre residential tower in Birmingham.

Subject to planning consent, Octagon would be built on land occupied by the 77 Paradise Circus Queensway office building and would comprise 346 homes for rent in a 49-storey building.

Argent will be conducting an online public consultation exercise before aiming to submit planning for Octagon this summer. If approved by Birmingham City Council, Argent estimates Octagon could be completed by 2024.

Green light for West Midlands freight interchange

The Government has given the planning green light for a major rail freight hub on land off the M6 in Staffordshire.

It is being developed by Four Ashes, a three-way partnership led by the specialist rail infrastructure business Kilbride Holdings, and backed by Grosvenor and the majority landowner, Piers Monckton.

The West Midlands Strategic Rail Freight Interchange will link to the motorway and the West Coast Mainline.