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LDT reports confidence growing in South West commercial property market

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The surge of confidence dominating the housing sector is having a positive impact on the commercial market, says leading South West commercial developer London and Devonshire Trust (LDT).

Daniel Stephenson, Managing Director of LDT, the company behind the new 22-acre industrial Plymouth Enterprise Park at Ernesettle in Plymouth, commented: “Market confidence has certainly been boosted by news that the UK economy has grown alongside the eurozone starting to emerge from recession. There’s no doubt that investors are being encouraged towards the commercial market due to the improving state of credit through the Bank of England’s Governor Mark Carney declaring his intention not to increase interest rates.”

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Above: Daniel Stephenson, Managing Director, LDT

 
In its latest report, real estate agency Savills stated that commercial property development activity across the country rose sharply in July and at the fastest rate since May 2007. According to Savills, the improvement was largely driven by private commercial work.

LDT states there are strong signs of green shoot growth in the South West that show developers are now keen to get projects moving. Mr Stephenson explained: “If we look at the M5 corridor, Cheshire-based property developer Gladman is pressing ahead with the launch of Cullompton Business Park off junction 28 for office and industrial uses. Exeter developer Eagle One is investing in the extension of the successful Matford Business Park. The company has outline planning consent for additional 500,000 sq ft of employment uses.”

LDT is submitting an outline planning application next month for the development of Plymouth Enterprise Park, which according to property agent Philip Kerr of Harcourt Kerr, has received notable interest despite, the traditionally slow summer months.

Mr Stephenson concluded: “Overall, sites are being primed for development signalling a positive outlook for the region over the next six months.”

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Plans shared at public exhibition

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London and Devonshire Trust hosted a public information event at The Parkway Sport Clubs at Ernesettle Lane regarding its plans for the proposed development of the recently launched Plymouth Enterprise Park.

Present at the exhibition, Mark Leonard, London and Devonshire Trust, stated: “We were pleased with the attendance at the event. The general sentiment seemed to welcome the regeneration of the site and subsequent creation of new jobs. But we will now review all the comments and feedback before submitting the final planning application to the council.”

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LDT markets investment opportunity in Plymouth

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July 17, 2013, Plymouth – London and Devonshire Trust (LDT) is offering an excellent investment opportunity in Plymouth.

The company, which has a proven track record in regenerating vacant sites, is marketing a fully let and income-producing four acre section of the newly created Plymouth Enterprise Park at Ernesettle Lane just off the A38 within the city limits.

The site is occupied by Westcountry Storage Solutions and Vi-Spring Ltd on two co-terminus leases, let for twenty year terms generating a combined annual rental stream of £75,000 with some guaranteed uplifts.

Property agent Philip Kerr, Harcourt Kerr, stated: “LDT’s ability to turn around a vacant site in a short period of time and up against the challenges of a recession is quite an achievement, proving their skill in identifying profitable opportunities.

“At £945,000 providing a 7.5 per cent yield, this investment is an attractive proposition for small pension funds, family trusts or individuals looking to expand their commercial portfolio.”

Interested parties should contact Philip Kerr at Harcourt Kerr on 01823 444097 or Oli Stratton at Alder King on 0117 317 1121.

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Developer to reveal commercial plans at public exhibition

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July 08, 2013, Plymouth – Plans for the proposed development of the recently launched Plymouth Enterprise Park, will be shown at a public information event by South West commercial developer London and Devonshire Trust (LDT).

The event, which will take place on Tuesday 16 July from 4pm to 8pm at The Parkway Sports Club at Ernesettle Lane, will provide an opportunity for interested parties to comment on the development plans before the application is submitted.

Daniel Stephenson, Managing Director, LDT, stated: “We are keen to ensure that the local community and other businesses with an interest in the site have the opportunity to express their opinion on the development proposals. At the event they will be able to review plans and talk to members of the project team.”

The proposals outline new warehousing and general industrial units as well as office and car parking space on the site of the former Toshiba factory. The development will appeal to   those companies looking to expand or relocate operations to Plymouth and the wider South West.

LDT has concentrated on expanding its commercial development activities throughout Devon and the South West with successful results at a number of commercial sites in Exeter, Tiverton and Bristol.

Property agent Philip Kerr explained: “At this stage, LDT is submitting outline planning permission to gain a flexible framework which can be further developed in terms of final design and layout at a later date to meet the needs of the occupiers. Securing initial planning permission will make the application process easier for future tenants as the development parameters will have been established.”

The consultation period will conclude on 2 August when all feedback will be collated and considered in the final application. It is anticipated that a planning application will be submitted to Plymouth City Council in the autumn.

LDT advises that for those interested parties who cannot attend the exhibition, details of email contact addresses to submit comments can be found on the website www.plymouthenterprisepark.co.uk/consultation.

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Plymouth receives boost from business park investment

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June 17, 2013, Plymouth – Leading South West commercial developer London and Devonshire Trust (LDT) has launched a new 22 acre business park at the prime industrial location of Ernesettle in Plymouth near the Tamar Bridge.

LDT, which has a history of regenerating industrial sites across the region successfully, has already attracted interest in the 255,000 square feet of industrial and business space available at the newly formed Plymouth Enterprise Park (PEP).

Daniel Stephenson, Managing Director, LDT, stated: “The launch of PEP is a significant step for the company as it is our first site in Plymouth. We are confident this is the right time to invest in the city with its profile rising as an important strategic regional hub. The location of the park offers excellent transport links, seconds from a junction to the A38 gateway to the region and significantly just one junction away from the port.

The growing trend of manufacturing businesses looking to bring their operations back to the UK and the proximity of the port, make Plymouth increasingly appealing as a choice business location.”

The brownfield Ernesettle site previously housed a manufacturing facility that was carefully removed by LDT to provide levelled land ready for development. Now the company is targeting those businesses looking to expand or relocate.

Mr Stephenson explained: “The fact that the site is ready to go, levelled and easily accessible means we have received tremendous interest from a broad spectrum of businesses in the manufacturing, logistics and food distribution industries. Contracts have already been signed with the first occupiers and we expect to welcome them onto the site imminently.

A further benefit of PEP is the neighbouring major grid transformer that has the potential to provide a significant and securepower supply – an increasingly important factor for business operators.”

Fulcrum Power is also proposing to site a generation facility at PEP to support the continuing security of power to the region.

Mr Stephenson commented: “The presence of a Short Term Operating Reserve (STOR) at PEP proposed by Fulcrum Power will provide an essential transitional role in supporting the generation of power as the UK heads towards its renewable energy targets for 2020. It will provide back-up power for those times of high usage and cover the intermittent periods that natural energies such as wind power will experience.”

The generation unit will utilise one acre of the 22 acre site and it is anticipated will be in use between four and five per cent of the year in its capacity as a standby reserve.

LDT has successfully redeveloped several commercial sites across the South West including Marsh Barton Industrial Estate in Exeter, the Tiverton Trade Centre, Mid Devon Business Park and at the Royal Portbury Docks in Bristol.

Commenting on the importance of the Plymouth investment, LDT’s property agent Phillip Kerr stated: “This investment is a concrete demonstration of the growing confidence in Plymouth. PEP has the potential to aid Plymouth’s growing economy by providing new jobs and attracting more investors to the city. Nationally there has been a trend towards reducing food miles and we expect to see more enquiries from those companies looking to satisfy food production, storage and fulfilment more locally.

Overall we anticipate Plymouth will experience more footloose enquiries with the likes of Amazon which operates distribution centres in areas such as Swansea considering similar opportunities that PEP now provides for Plymouth.”

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