Hermes Real Estate has exchanged on the sale of three MEPC mixed use parks for £430 million at an initial yield of 7.3 per cent. Funds managed by Oaktree Capital Management, L.P. ("Oaktree") and Patrizia Immobilien will take ownership of the three parks in the South East, North West and Scotland: Chineham Park in Basingstoke, Birchwood Park in Warrington and Hillington Park in Glasgow.
Chris Taylor, CEO of Hermes Real Estate and Chairman of MEPC said: “We are delighted to confirm the sale of these three relatively mature estates, which have been well managed by the MEPC team for many years, at a point in the cycle when we are seeking to redeploy capital and invest into estates that will benefit from what we regard as the emerging growth sectors of the UK economy.”
MEPC will continue to manage four business parks including the £500 million technology park at Silverstone. In addition, MEPC will manage the continued expansion of Milton Park with its globally recognised biotechnology occupier base and competitive status within the dynamic Oxford-Cambridge ‘Technology Arc’. MEPC has also commenced development at Wellington Place, Leeds reflecting the strength of occupier demand for well-located regional city centre offices.
Chris Taylor continued: “Through our top-down approach to investment we will seek to capitalise upon the MEPC team’s proven ability to identify future occupational demand drivers and look to reposition the portfolio to ensure we capture future economic growth, which we expect to be sustained by three of today’s key investment themes associated with technology, globalisation and urbanisation.”
Rob Brook of Patrizia Immobilien said: “This considerable acquisition adds three high quality assets to our expanding UK-wide portfolio. Each of the three parks provide significant development opportunities within growing regional markets, which, working alongside Oaktree, we aim to maximise over the next few years through additional investment and asset management initiatives.”
James Dipple CEO of MEPC added: “This is a significant moment in the life of MEPC. Over our many years of stewardship, we have created a market leading portfolio by consistently meeting the changing needs of occupiers and delivering high quality working environments. We are confident the assets will continue to develop and grow under the new ownership and management. MEPC is already embracing new challenges at the remaining four parks within our portfolio and delivering material changes to large management intensive properties with a focus on meeting the needs of modern businesses in the technology and business services sector.”
Hermes Real Estate was represented by JLL, while Strutt & Parker and Ryden acted on behalf of Oaktree and Patrizia Immobilien.
Thursday 9 October 2014
Tuesday 1 July 2014
New Wall of Fame launched
Visitors to the Innovation Centre will see changes to
the current ‘Wall of Fame’ as part of MEPC’s commitment to making
improvements to the interior of the building.
Over 20 of Hillington Park’s most pioneering and ambitious companies will be showcased on the walls throughout the Centre.A host of companies including Dimensional Imaging, Bridgeall and Chesapeake have taken part in the project.
Jamie Cumming, Commercial Director, MEPC said: “The Hillington Park Innovation Centre continues to be a leading business incubator facility and one that many businesses aspire to be located and we are determined to keep building on that by making these improvements.
“It has a reputation for being home to exciting technology focussed businesses and these, along with other impressive companies on the Park, will adorn the walls so that visitors can learn more about the range of businesses based here.”
New approach transforms flytipping site
A new approach to deter flytipping within a local industrial site is being hailed a huge success.The
recently completely project, which transformed the small piece of land
at Hillington Park, has had no instances of flytipping since it was
completed in April.
Local students designed vibrant and colourful artwork based on the Commonwealth Games. The artwork has been displayed on fencing around the unused piece of land.
The fencing also promotes Renfrewshire Council’s Do your bit message, which emphasises the role the community can play in protecting the environment and boosting recycling.
The £28,000 initiative is a joint venture between Renfrewshire Council, MEPC Hillington Park, West College Scotland, Robust Property and Zero Waste Scotland.
Councillor Eddie Devine, Convener of Renfrewshire Council’s Environment Policy Board, said “The success of this initiative shows what we can achieve by taking a new approach to tackling flytipping.
By working in partnership with local land managers MEPC and students at West College Scotland, we have transformed the site into a bright and positive place.
“Flytipping can become a real nuisance to local businesses and the community. This initiative reverses that blight and has been a real opportunity to develop new ways to prevent the dumping of rubbish on private and public land.
“We want to build on this success by providing more opportunities to work together with local organisations to transform potential eyesores into environmental assets.”
Iain Gulland, Director, Zero Waste Scotland, said “The approach used in Hillington Park to discourage flytipping through vibrant and artistic messages, bringing in different parts of the community, has been a real success.
“Litter and flytipping are a blight on communities, and cost the public purse a substantial amount - £46million a year – to clean it up. That’s why it’s one of Zero waste Scotland’s top priorities to reduce the impact of litter and fly-tipping in Scotland.”
Jamie Cumming, Commercial Director for MEPC Hillington Park, said “We’ve been delighted to be part of this initiative, working with Renfrewshire Council and West College Scotland. Many thousands of visitors, customers and staff come to Hillington Park every day and we want it to be a positive experience for every one of them.
“Our ten year plan will see up to £50m being spent on developing new sites and improving the infrastructure at Hillington Park and this particular project plays a part in making it a good place to visit and do business.”
Lola Paterson, Lecturer at West College Scotland, said "This has been an incredible opportunity for our students who have responded with an excellent professional standard of work. This experience contributes greatly to them articulating onto university or future employment and showcasing their work in the year of the commonwealth games.”
Further information on waste and recycling is available at www.renfrewshire.gov.uk or call 0300 300 0300.
To find out more about Hillington Park please visit www.hillingtonpark.co.uk or contact the Park’s management team on 0141 883 5760.
Local students designed vibrant and colourful artwork based on the Commonwealth Games. The artwork has been displayed on fencing around the unused piece of land.
The fencing also promotes Renfrewshire Council’s Do your bit message, which emphasises the role the community can play in protecting the environment and boosting recycling.
The £28,000 initiative is a joint venture between Renfrewshire Council, MEPC Hillington Park, West College Scotland, Robust Property and Zero Waste Scotland.
Councillor Eddie Devine, Convener of Renfrewshire Council’s Environment Policy Board, said “The success of this initiative shows what we can achieve by taking a new approach to tackling flytipping.
By working in partnership with local land managers MEPC and students at West College Scotland, we have transformed the site into a bright and positive place.
“Flytipping can become a real nuisance to local businesses and the community. This initiative reverses that blight and has been a real opportunity to develop new ways to prevent the dumping of rubbish on private and public land.
“We want to build on this success by providing more opportunities to work together with local organisations to transform potential eyesores into environmental assets.”
Iain Gulland, Director, Zero Waste Scotland, said “The approach used in Hillington Park to discourage flytipping through vibrant and artistic messages, bringing in different parts of the community, has been a real success.
“Litter and flytipping are a blight on communities, and cost the public purse a substantial amount - £46million a year – to clean it up. That’s why it’s one of Zero waste Scotland’s top priorities to reduce the impact of litter and fly-tipping in Scotland.”
Jamie Cumming, Commercial Director for MEPC Hillington Park, said “We’ve been delighted to be part of this initiative, working with Renfrewshire Council and West College Scotland. Many thousands of visitors, customers and staff come to Hillington Park every day and we want it to be a positive experience for every one of them.
“Our ten year plan will see up to £50m being spent on developing new sites and improving the infrastructure at Hillington Park and this particular project plays a part in making it a good place to visit and do business.”
Lola Paterson, Lecturer at West College Scotland, said "This has been an incredible opportunity for our students who have responded with an excellent professional standard of work. This experience contributes greatly to them articulating onto university or future employment and showcasing their work in the year of the commonwealth games.”
Further information on waste and recycling is available at www.renfrewshire.gov.uk or call 0300 300 0300.
To find out more about Hillington Park please visit www.hillingtonpark.co.uk or contact the Park’s management team on 0141 883 5760.
Welcome Addition to Hillington Park
An upgrade of Hillington Park’s arrival experience has
been undertaken with road improvements, prominent new signage and
landscaping now complete.
The
entrance to the Park from the M8, which is used by 95,000 vehicles
every daynow benefits from a programme of new tree and shrubbery
planting, a striking totem ‘welcome’ sign as well as a major upgrade to
the main roundabout at Hillington Road.This programme of public realm improvements is the first of two phases along Hillington Road, the second is planned for completion by the end of 2014.
Jamie Cumming said: “An important part of the ongoing Park improvement programme is the arrival experience so we’re delighted that phase 1 has been completed. We appreciate that there was some disruption while the important works were being undertaken so our thanks go to everyone for their patience.
“The next phase will be continuing the public realm improvements along Hillington Road, which is the main route through the Park. We are also in the process of implementing a major signage programme across the whole of the Park which will further help with navigation around the 419 acre site.”
New Development Plans for M8 Frontage
Proposals for a new, speculative industrial development
next to the busy M8 motorway have been progressed by MEPC Hillington
Park.
The plans would see
up to 78,000 sq ft at the Western side of the Park, and facing onto one
of the busiest motorways in Scotland.Jamie Cumming, commercial director at Hillington Park said: “The proposed location will undoubtedly be of interest to any business that is keen to have a prominent visibility to tens of thousands of vehicles passing along the M8 every day”.
“Hillington Park’s close proximity to the motorway network and Glasgow Airport are already highly appealing to businesses in the distribution and logistics sector and we expect this new proposed development to hold similar interest”.
The development plot could see up to four purpose built units being built ranging in size from 13,000 sq ft to 30,000 sq ft.
Full details of all MEPC’s development opportunities can be found at www.hillingtonpark.com
Park Businesses Optimistic about the Future
A survey of Hillington Park businesses has shown that
94% of companies on the Park have a positive outlook for their business
over the next 12 months.
As
we’ve gone to print, the data also shows that a majority are keen to
invest and expand, with 73% of companies believing they will increase
their turnover over the year, and 65% planning to invest in their
business.Furthermore, 59% want and expect to increase their staff levels by 2015.
Of those organisations that export products and services, a majority felt that the level of goods they export would either remain the same or increase.
Jamie Cumming, Commercial Director, MEPC Hillington Park said: “Hillington Park is one of Scotland’s largest business parks and is home to a diverse community across a wide spread of sectors. We firmly believe that the Park is a microcosm of the whole Scottish economy and wanted to learn more about those based here and their shared outlook for the next twelve months.
“The results of our survey so far have been extremely encouraging and show that companies on the Park are looking to the future with a positive outlook. While it’s been a tough few years for the economy, the businesses here are predicting success and growth over the coming year which is fantastic and a wonderful statement of intent by the business community on the Park.”
Watch out for our full survey report coming soon.
Tuesday 7 January 2014
Companies on the Park invest in Renfrewshire
Companies based at Hillington Park have shown their commitment to a council initiative aimed at reducing unemployment and helping the local Renfrewshire economy to grow.
The Invest in Renfrewshire team took to the streets of Hillington Park recently to spread word about the programme.
The team’s business development advisors spent two days visiting firms from around the Park, aiming to recruit new firms to the programme who may not have been aware of what is on offer.
More than 20 firms signed up to the scheme as a result of the week, bringing the total number of Hillington Park sign-ups to above 80.
Businesses that expressed an interest were invited to an event in the Innovation Centre where more information was available on the programme’s packages of financial support.
Invest in Renfrewshire offers grants and loans which can help firms pursue growth projects, take on new staff, purchase new equipment and move or upgrade premises.
Therese McKendrick, Economic Development Officer, Renfrewshire council, said: “We covered a lot of ground over the few days but it was worth it. It was great to get out and about and meet so many new companies and show them the benefits Invest in Renfrewshire could bring.
“We are still picking up new leads now as a result of the contact we had, so hopefully we will be able to bring even more companies on board.”
Jamie Cumming, Commerical Director, MEPC, Hillington Park added: “We have been a supporter of the Invest in Renfrewshire scheme since it was launched and we are pleased that so many companies on the Park are continuing to back the programme. Hillington Park contributes over £340m of economic wealth to the economies of Renfrewshire and Greater Glasgow, and we are committed to Renfrewshire and the local economy. Invest in Renfrewshire is a fantastic way to encourage growth while supporting businesses and young people in the area.”
Businesses that would like to learn more can get information at www.investinrenfrewshire.com
The Invest in Renfrewshire team took to the streets of Hillington Park recently to spread word about the programme.
The team’s business development advisors spent two days visiting firms from around the Park, aiming to recruit new firms to the programme who may not have been aware of what is on offer.
More than 20 firms signed up to the scheme as a result of the week, bringing the total number of Hillington Park sign-ups to above 80.
Businesses that expressed an interest were invited to an event in the Innovation Centre where more information was available on the programme’s packages of financial support.
Invest in Renfrewshire offers grants and loans which can help firms pursue growth projects, take on new staff, purchase new equipment and move or upgrade premises.
Therese McKendrick, Economic Development Officer, Renfrewshire council, said: “We covered a lot of ground over the few days but it was worth it. It was great to get out and about and meet so many new companies and show them the benefits Invest in Renfrewshire could bring.
“We are still picking up new leads now as a result of the contact we had, so hopefully we will be able to bring even more companies on board.”
Jamie Cumming, Commerical Director, MEPC, Hillington Park added: “We have been a supporter of the Invest in Renfrewshire scheme since it was launched and we are pleased that so many companies on the Park are continuing to back the programme. Hillington Park contributes over £340m of economic wealth to the economies of Renfrewshire and Greater Glasgow, and we are committed to Renfrewshire and the local economy. Invest in Renfrewshire is a fantastic way to encourage growth while supporting businesses and young people in the area.”
Businesses that would like to learn more can get information at www.investinrenfrewshire.com
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