Addington Capital, the property investment and asset management company has revealed its new ‘street art’ mural “Nirvana” at its recently completed One Lampton Road, the new PRS permitted development scheme in Hounslow.

Created and painted in 10 days by the artist WOSKerski (Website: https://www.woskerski.com/), Nirvana brings individuality, extra colour and certainly a talking point to the building’s co-working space, complementing the green wall on the other side of reception.

Tenants in the scheme have given the mural a thumbs up!

One Lampton Road was completed at the beginning of the year with the launch of 118 new high-quality studio, one- and two-bedroom homes available to rent in February. 50 units have now been reserved, with 32 tenants already moved in.

The property is owned and has been developed by Addington Capital and its joint venture partner Europa Capital. The developers have created a quality offering with generously sized apartments, large windows and lots of light.

Martin Roberts, Principal of Addington Capital said, “One Lampton Road is one of two single ownership, professionally managed schemes in Hounslow, and there is an increasing demand for quality but fair priced PRS for the 20 to 40 age range in this location. We are delighted with WOSKerski’s creation of Nirvana, which has been very well received by our residents and creates a talking point and genuine point of interest.”

To watch the mural’s creation, please click here:

https://youtu.be/oSFzTYTckME

Posted in News on 29th June, 2021

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Addington Capital, the property investment and asset management specialist has sold 11 houses to owner occupiers in its town house scheme of 16 houses on Melbourne Street and Lower Brunswick Street near Leeds City Centre, with the remaining five homes under offer – three of these are expected to complete by the end of June.

Addington has redeveloped what was originally an obsolete office building and repurposed into twelve modern freehold 2-bed, 2-bath townhouses (Melbourne) and four 3-bed, 2-bath townhouses (Brunswick), all with garden and parking.

Addington says the houses are attractive to Leeds young professionals and young families who want to live near Leeds City centre, which is only one mile away. Good shopping is less than half a mile away. This Norther Quarter of Leeds has seen significant regeneration in recent years with a number of new shops, bars and restaurants, adding to its vibrancy.

Matthew Allen, Principal at Addington Capital said, “In line with Addington’s re-purposing strategy, we took a tired offices unit and created 16 modern houses, all with outdoor space and terraces at the back, in line with ever-increasing homeowner demand.

“Leeds is one of UK’s fastest growing cities. The City Centre has a population of 758,000 with 27% of the population aged between 20 and 34 and an economy forecast to grow, particularly on the back of financial and business services. It has a vibrant young professional market looking for quality space as they move up the ladder.”

We are delighted in the success of our re-development and that buyers found our scheme attractive.”

Posted in News on 28th June, 2021

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Addington Capital, the property investment and asset management specialist has recruited regeneration expert, Nigel Turner as a partner to head Town Centre Regeneration. This senior addition elevates Addington’s capability to help investors and landowners redress the balance in our tired retail spaces and town centres.

Nigel was formerly a Board Director and COO of McCarthy Stone PLC which he joined in 2018 and where he was responsible for all land and build activity UK wide. Prior to that he spent nearly twenty years at Kier Group, where he was a PLC board director of Developments & Property Services, London & UK wide, responsible for all commercial and residential development strategy, investment decisions and delivery.

Both roles gave Nigel considerable grasp of investment, land acquisition; development, housebuilding, regeneration and planning frameworks.

He also has considerable experience in the creation of mixed-use communities, local authority partnerships, redevelopment, and numerous joint ventures. Major initiatives included the setting up of Solum Regeneration a 50/50 joint venture with Network Rail, which has re-generated railway sites in Walthamstow, Twickenham, Epsom, Haywards Heath, Bishop Stortford and Guildford. Nigel also was instrumental in the regeneration of Watford Riverside a 50/50 joint venture with Watford Borough Council.

Nigel joins a team of 15 at Addington Capital. The asset management business already has considerable expertise in town centre regeneration through its redevelopment projects in London, Harlow*, Leeds, and Cheltenham. Most recently it launched One Lampton Road where it has re-developed a mixed-use office and retail building in the middle of Hounslow into a new high quality PRS residential scheme of 118 homes under permitted development rights.

Matthew Allen Principal of Addington Capital said, “We now have a very experienced multi-sector team, led by Nigel, to work alongside our partners to unlock the complex but rewarding opportunities in town centre redevelopment. Nigel is experienced in setting up public and private sector partnerships and has the track record to help us increase our success in this area of the market where we foresee a long pipeline of business.”

Nigel Turner added, “I am delighted to be joining a team which has the same passion to repurpose and regenerate our town centres. The significant changes in retail trading provide a unique opportunity to reinvigorate these spaces for residential and community use, whilst helping to reduce the impact of development in the countryside and creating more connected mixed-use communities. In this new role we want to work with investors, local authorities and planners to create genuine quality and sustainable town centres- fit for the communities of the 21^st century.”

Posted in News on 14th May, 2021

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Addington Capital, the property investment, and asset management specialist has heeded the request of its residents and has refurbished the residents’ lounge at its PRS scheme at Headingley Park, Leeds to create a fully-fledged co-working space. This is fully operational for when the government lifts restrictions and encourages “back to work” in the office.

The new space has been totally redecorated and now has 12 workstations, increased power supply and superfast broadband to cater for every eventuality in the new “world of work”.

As David Dalrymple, Partner at Addington comments, “ Residents who don’t want or need to return to an external office  will now be able to work either from their individual homes or from this redesigned work space, if they prefer the buzz of being around other workers.”

Addington has also upgraded the ‘lounge area’ with new furniture, lighting and a brand new coffee machine for those residents who just want to chill. The scheme’s motto is “Live, Work, Relax.”

Occupancy at Headingley Park has recently been boosted. The scheme is most attractive to young professionals in the 25- 35 age bracket with numbers now up to 250 residents in 150 apartments and occupancy rates high at 97.5%.

“A great testament to our efforts to listen to what our residents actually want and then successfully deliver it onsite,” says Erdal Kacar Head of Operations at AddLiving, the scheme’s property manager.

AddLiving is soon to add an automated parcel delivery service at Headingley Park and provides on-site management and leasing expertise at the scheme.

In other good news from AddLiving’s other PRS properties, occupancy levels at Velocity Village in Sheffield are also high – at 98.5%. Velocity Village is attractive to both young professionals and students- the latter preferring the high quality and self-contained nature of the apartments, which make them Covid secure.

Posted in News on 5th May, 2021

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Addington Capital, the property investment, and asset management company has let over 26,100 sq. ft of office space to the Department of Work and Pension “DWP” in three of Addington’s properties, two of which are in shopping centres.

The DWP has taken a new five-year lease and has expanded its occupancy to take 7,900 sq. ft, the whole of the third floor, of Carew House, Wallington Surrey at a rent of £20.50 psf. The DWP had previously been a tenant in the building.

In addition, Addington has let 8,500 sq. ft in Unit 58-60, Harvey Centre, Harlow (on the first floor) and 9,700 sq. ft at Unit 7 Market Square, Charter Walk Shopping Centre, Burnley, also to the DWP. Both new leases are for a 5-year term. All three of the offices will be used as job centres.

The DWP is currently opening job centres across the UK to deal with the anticipated growth of the number of unemployed caused by the pandemic. According to the Chancellor’s recent Budget Statement there have been 700,000 job losses in the UK since March 2020. Numbers are expected to rise even further with the end of the furlough scheme in September.

Philip Symonds, Partner at Addington Capital said, “We welcome the flexibility given by the new class E planning use which have enabled us to re-purpose some of the empty space in two of our shopping centres for office use’.

“Letting to a government agency provides a strong covenant at a time when many in the retail markets are struggling. We are carefully looking at our other standing assets to see where we can take advantage of the less restrictive planning regime to enhance net income as well as capital values.”

Addington Capital was advised by agents SHW at Carew House, Brasier Freeth at the Harvey Centre and Barker Proudlove at Charter Walk, Burnley. DWP was advised by Cushman & Wakefield.

*Secretary of State for Communities and Local Government (C/o the Department of Work and Pension)

Posted in News on 23rd March, 2021

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