Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, announces that it has received planning permission from Surrey Heath Borough Council to re-develop a site within the Albany Park Industrial Estate into a 48,406 sq ft purpose-built and operationally carbon-neutral industrial and warehouse scheme.
The speculative development is underway and is expected to complete in May 2021. The project will see the transformation of a previous warehouse building, dating back to 1982, into three high-quality industrial and distribution units, each providing between c. 14,000 sq ft and 18,500 sq ft of space and with the flexibility to be combined up to 48,406 sq ft, depending on prospective tenant requirements. The facility has been designed to achieve a BREEAM Excellent rating and will benefit from a secure yard with generous parking, 10m clear internal height and modern air-conditioned office space on the first floor. In line with Orchard Street’s Responsible Investment Strategy, sustainability has been a key consideration, with the new facility offering electric vehicle charging points and onsite solar power generation, enabling all units to be carbon neutral in operation, with an EPC rating of A+.
Located within Albany Park Industrial Estate in Surrey, the highly accessible scheme benefits from a strategic South East industrial location, sitting less than one mile from Junction 4 of the M3, which links London to the South Coast. The site is also within close proximity of Farnborough Mainline station, which provides direct routes to London Waterloo in just 40 minutes. Frimley high street is a 5-minute walk away and provides a range of shops and amenities.
Jamie Munday, Asset Manager at Orchard Street, commented: “As the UK’s South East industrial sector continues to prove its resilience, this high-spec development will enable us to capitalise on the robust demand for highly efficient and well connected logistics space. Albany Park is already an established industrial hub, and we expect our extensive range of sustainability features to appeal to leading companies who recognise the financial, corporate and environmental benefits of occupying sustainable buildings in strategic locations.”
Hurst Warne and Savills are acting as joint marketing agents for the completed scheme.
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Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market. It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial, retail warehouses, offices and shopping centres. Orchard Street currently has assets under management exceeding £4 billion.