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London and Devonshire Trust have advised that, subject to contracts, all space at Plymouth Enterprise has now been taken by commercial customers. Full details of occupation will be announced in due course.
Installation of a 20MW power generation unit at Plymouth Enterprise Park is underway. Fulcrum Power Generation gained planning consent for the backup power solution on an acre of the park in January. REACT Energy plc has also signed a lease for a 10MW CHP project on 4.5 acres of the 22-acre site, with a further 6000m2 of B2 general industry and 9000m2 of B8 storage at this strategic location currently available (planning approved).
February 7th, 2014, Plymouth: London and Devonshire Trust (LDT) has secured outline planning permission forfurther development of its 22-acre Plymouth Enterprise Park (PEP)in a strategic location to the northwest of the city at Ernesettle.
Plymouth City Council has approved the application for over 6000m2 of B2 general industry and 9000m2 of B8 storage and distribution use on the site of the former Toshiba factory.
Daniel Stephenson, Managing Director, LDT said: “We are delighted that our outline planning has been approved, and hope that this will generate interest from companies looking to expand or relocate operations in the South West.”
Local and regional businesses are already showing interest in the proposed high specification buildings. Representing the joint letting agents Harcourt Kerr and Listers, Ifan Rhys-Jones commented: “We have had enquiries from further afield than we would expect for smaller less strategic sites but the unique attributes and early deliverability of PEP make it an important location to be considered against other sites across the UK.”
LDT has already announced an agreement with REACT Energy plc for a 10 megawatt biomass combined heat and power project at PEP, and Fulcrum Power Generation Ltd (FPGL)is currently on site, preparing for installation of a 20-megawatt power generation unit.
A sustainable and cheaper source of energy may be just what the commercial sector is looking for, and our deals at PEP with power providers make us an attractive proposition for future tenants,”
added Mr Stephenson.
Plymouth’s growing business status, and the site’s prime location, just seconds from the A38 make this a truly unique investment opportunity.”
LDT has successfully redeveloped several commercial sites across the South West including the Marsh Barton Industrial Estate in Exeter, the Tiverton Trade Centre, Mid Devon Business Park and at the Royal Portbury Docks in Bristol. Further information about the site can be obtained from www.plymouthenterprisepark.co.uk
January 9th, 2014 −London & Devonshire Trust (LDT) has signed an agreement for a 10 megawatt biomass combined heat and power (CHP) project atPlymouth Enterprise Park (PEP).
The lease with energy company REACT Energy plc (formerly Kedco plc) includes a three-year-option period to secure planning permission and the other necessary consents to start construction on its four and half acre site.
LDT has already acquired a grid connection for a number of planned projects within the full 22-acre PEP site. Before Christmas, Fulcrum Power Generation Ltd achieved planning for an acre of the park to house a 20 megawatt backup power generation unit and has already started groundworks.
Daniel Stephenson, Managing Director of LDT, the company behind the new industrial park at ErnesettlePeninsula in Plymouth, commented:
At PEP we have been extremely successful in attracting energy developers to the site. This sector has become the driving forcebut the opportunity still exists here for more obvious sectors such as logistics that would benefit from the superb location, readymade infrastructure and potential for cheaper energy that PEP provides.”
Gerry Madden, CEO for REACT Energy, commented:
We’re delighted to have signed a legal option and agreement for lease with LDT. We have plans tohold a public consultation as part of the planning approval process for generating up to 10MW of electricity and heat at the site, and hope to have the site construction-ready by the end of 2014.”
Plymouth Enterprise Park is a regeneration project on the site formerly occupied by Toshiba. Situated within a mile of the A38 expressway major transport link, the land can provide from 30,000 to 250,000 square feet of bespoke space for energy, business, warehousing and industrial use.
Leading South West commercial property developer London and Devonshire Trust has secured its first investment sale at the city’s up and coming Plymouth Enterprise Park at Ernesettle Lane just off the A38.
In competitive bidding a private pension fund has bought four acres of fully let land at the site for £830k showing an equated yield of circa 8.5 per cent.
Occupied by Westcountry Storage Solutions and Vi-Spring Ltd on two co-terminus leases, the land has been let on twenty-year terms.
Development advisor Philip Kerr of Harcourt Kerr, said:
LDT has a proven track record in swiftly regenerating vacant sites into profitable investment opportunities. It has been less than four months since the 22-acre park was launched and we are securing leases as quickly as tenants come along and in this way we create investment opportunities releasing cash that can be recycled into the site.”
In a move to make the remainder of the site attractive to potential tenants, the developer has recently submitted outline planning permission for mixed-use industrial and business space. The intention is to open the way for any future tenants to occupy the remainder of the site. Already Fulcrum Power Generation Ltd has achieved planning for an acre of the park to house a 20-megawatt backup power generation unit and will be taking occupation before Christmas.
Daniel Stephenson, Managing Director of LDT, said:
The site’s credentials are excellent as an existing brownfield site with infrastructure already in place. We expect to see further investment opportunities realised as the site matures with new tenants attracted to Plymouth’s growing business status.”
London and Devonshire Trust (LDT) has submitted an outline planning application for the 22-acre Plymouth Enterprise Park (PEP).
The application for the Park, on the site of the former Toshiba factory at Ernesettle, was drawn up following a public consultation exercise, and has now been lodged with Plymouth City Council.
Daniel Stephenson, Managing Director, LDT said:
We aim to regenerate this brownfield site and as a result hope to create much-needed jobs for Plymouth. We are confident that market conditions are right for us to invest in the city.
As many manufacturers are looking to bring operations back to the UK, Plymouth, with the benefit of its maritime port, is becoming increasingly appealing as a business location.
Plymouth Enterprise Park, only seconds from the A38 with its links to the rest of the region, and just one junction away from the port, is a prime location for businesses looking to expand or move to the UK.”
LDT has already attracted interest in the 166,000 square feet of mixed-use industrial and business space. Four acres immediately adjacent to the PEP site have already been let, with neighbouring bed manufacturer Vi-Spring and Ashburton-based Westcountry Storage Solutions having signed deals for car parking and open storage space.Additionally Fulcrum Power Generation Ltd (FPGL) is leasing an acre of land at the site for a 20-megawatt power generation unit.
LDT has successfully redeveloped several commercial sites across the South West including the Marsh Barton Industrial Estate in Exeter, the Tiverton Trade Centre, Mid Devon Business Park and at the Royal Portbury Docks in Bristol.
Regional businesses relying on large quantities of power will benefit from a standby power generation system due to be built at the new Plymouth Enterprise Park (PEP) according to commercial developers London and Devonshire Trust (LDT).
LDT has confirmed a contract has been signed with Fulcrum Power Generation Ltd (FPGL) to lease one acre of land at the new commercial park in Ernesettle, having secured planning permission for a 20 megawatt diesel generation unit.
Paul Lazarevic, CEO, FPGL, said:
We are delighted and proud to be one of the first companies to secure a lease at PEP. LDT took time to understand our business model which made securing terms a straightforward and painless exercise.”
FPGL put in its application in May and, although not connected to LDT’s own planning for the PEP which is due to be submitted later this month, it will play an important part in the wider regeneration scheme at the new park, which is located on the former site of the Toshiba factory.
Daniel Stephenson, Managing Director, LDT, said:
PEP is the perfect site for Fulcrum because of its fantastic location adjacent to a major transformer grid and the fact that the site is already levelled and prepared for development. The addition of a secure power supply on-site will further benefit future park tenants.”
The Short Term Operating Reserve (STOR) is expected to be in use only about one per cent of the year in its capacity as a standby facility to ensure a secure line of energy to the region.
Mr Stephenson added:
The South West’s onshore and offshore renewable energy resources have been earmarked to contribute to the UK’s energy targets set for 2020. Knowing there is a regional back-up facility that will secure the use of these renewables and support them in times of high demand, will give confidence to those regional businesses that rely heavily on large quantities of power.”
LDT took the marketing of Plymouth Enterprise Park (PEP) to new heights as the most senior commercial agents in the South West were flown by helicopter into Plymouth to be briefed on the latest proposals.
The group that included BNP Paribas, Knight Frank, JLL, Miller, Stratton Creber and Monk and partners gained a bird’s eye view of the excellent location of the site as they flew across the Tamar Valley before landing on-site to meet LDT Managing Director, Daniel Stephenson with a well earned cup of coffee supplied by the mobile Devon Coffee Company.
During the briefing Mr Stephenson confirmed four acres were already let and occupied and that a further acre had been let this week.
Hosting the event were property agents Listers and Harcourt Kerr who advised that the interest in the site was predominantly from the manufacturing, distribution and energy sectors, attracted to the location and proximity of the neighbouring grid transformer. Philip Kerr, Harcourt Kerr, stated: “The group was able to appreciate first-hand the potential of PEP in terms of its infrastructure and see for themselves the growing attraction of Plymouth as a transport hub.”