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May 2012 news archive

IM PROPERTIES SECURES PRE-LETS FROM HALFORDS AND TOOL STATION

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IM Properties has secured pre-lets from Halfords Autocentres and Tool Station for the trade counter scheme it began speculatively building at Longwell Green Trade Park in Bristol earlier this year.

IM is developing seven trade counter units and has planning permission for an 18,000 sq ft self-storage unit at the prime trade park, which is located off the busy A4174 Bristol Ring Road and is surrounded by some of the best known names in retail including Homebase, B&Q and Marks & Spencer.

Halfords Autocentres and Tool Station have both confirmed they will take 4,000 sq ft units. The remaining five trade counter units range between 2,920 sq ft and 5,500 sq ft, allowing uses B1(c) (business industrial), B2 (general industrial) and B8 (storage and distribution) with Ancillary Trade.

IM Properties secured detailed planning consent in January and construction began in March. The scheme is set to be ready for occupiers in the summer and will create up to 70 job opportunities in the city.

Lewis Payne, Development Manager at IM Properties, said: “In today’s market a speculatively built scheme is a rarity. However securing commitment from high profile names like Halfords Autocentres and Tool Station justifies our decision to commence construction.”

Gordon Reynolds, of agents Cushman & Wakefield, added: “High levels of interest in this trade counter scheme demonstrates there is a pent up demand for good quality trade counter premises in Bristol and highlights Longwell Green Trade Park’s excellent position: located off the A4174 Ring Road, providing access to Junction 1 of the M32 and Junction 19 of the M4 and is just five miles from Bristol City centre.”

Chris Miles of joint agents Jones Lang Lasalle added: “The speculative start was a response to the lack of supply of new, good quality space across the city and we are confident that the remaining units will be snapped up.”

Each of the available units benefits from double height glazed feature entrance, 7.2m minimum clear internal height, 37.5 kN/m2 floor loading, overhead sectional loading door and substantial signage panels. Quoting rent is £12 per sq ft.

For more details please contact Gordon Reynolds / Gregory Cooper at Cushman & Wakefield on 020 7935 5000 or Paul Baker / Chris Miles at Jones Lang LaSalle on 0117 927 6691

 

IM PROPERTIES STRENGTHENS TEAM WITH APPOINTMENT OF TWO NEW STAFF MEMBERS

imageKevin Ashfield, Development Director, Lewis Payne, the new Development Manager, Rob Hemus, the new Asset Manager and John Hammond, UK Investment Director

IM Properties has bolstered its thriving asset management and development teams with the appointment of two key new members of staff.

The company has appointed Lewis Payne as Development Manager and Rob Hemus to the role of Asset Manager as it concentrates on raising its development exposure and increasing its asset management stock.

Lewis, who has 12 years of experience within the property development sector, will work alongside Development Director Kevin Ashfield managing IM’s UK development projects as well as sourcing and acquiring long term, strategic opportunities.

He joins from development consultancy TDP where he managed large complex developments for clients including Tesco and Peveril Securities, delivering buildings for occupiers such as HSBC, RBS and Atos Origin along with a complex town centre scheme in the South West overcoming challenging land assembly and flood alleviation issues. Prior to TDP Lewis worked at Bruton Knowles.

As Asset Manager, Rob will manage and grow IM’s extensive property portfolio across the country; devise asset management initiatives to add value and find new markets to increase stock. He will work alongside John Hammond, IM’s UK Investment Director.

Rob joins from CBRE where he specialised in lease advisory on behalf of high profile clients including HSBC and Santander. For the last five months of his role he was seconded to Lloyd’s Banking Group’s Corporate Real Estate Team, where he advised on distressed property assets. Rob joined CBRE after graduating in geography and real estate management.

Lewis and Rob said they were delighted to join the IM team:

Lewis said: “IM is extremely well respected in the market and I am looking forward to working within a really dynamic team to build on the success of the company.”

Rob added: “I look forward to utilising my experience to the benefit of IM. The company offers a really diverse range of opportunities and there’s lots of room for ambition and initiative.”

Tim Wooldridge, Managing Director of IM Properties said: “We are very pleased to have Lewis and Rob on board. Their previous roles have given them a wealth of experience and will enable us to successfully drive forward the growth of our development and asset management business.”