Acting on behalf of Kier Property Wright & Partners acquired a 3.65 acre site from Royal Mail, in early 2007, at the height of a very competitive development market.
Excellently located in a prominent situation at the junction of St Albans Road and Maylands Avenue we believed that the site would be ideally suited for a mixture of hotel, headquarters office buildings and a self storage unit.
Whilst the ensuing global recession severely impacted on occupier demand, this period was utilised to work up a planning application for hotel and an office headquarters building. After many months of negotiation with the local planning authority in respect of what they viewed as a “gateway site” the application was successful and pre-lets were agreed with a leading hotel group and a catering company.
Occupational interest from three companies in respect of regional headquarters buildings on the residue of the site promises to secure the success of the scheme.