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Other latest news
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Green light signals regeneration of area
PxP West Midlands has received planning permission for the first phase of a �35m development in Hodge Hill, Birmingham, with the potential to create up to 500 jobs.
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RDA sets up North East joint venture
Regional development agency One North East has announced a joint venture with property firm Langtree that aims to accelerate the development of more than 20 sites in the region.
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Langtree's public affair
Regional development agency One North East is teaming up with a regeneration specialist to push through development in a lacklustre market.
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Partnership to boost North sites
A new regeneration partnership is hoping to bring forward development at a string of Tees Valley business sites.
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Framework moves in
Network Space has announced a further two lettings at Sherwood Networkcentre, its workspace and office development in Ollerton.
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Onsite team drives region forward
A regeneration partnership worth �25m between One North East and property investor and developer Langtree is launched today.
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Agency aims to turn 23 sites into job hotspots
A new regeneration partnership will see 23 sites across the region turned into potential employment hotspots.
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Langtree joins forces with One North East
Developer Langtree, headquartered in Newton-le-Willows, has launched Onsite North East, a �25m regeneration partnership with regional development agency One North East.
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Northern regeneration partnership launched
A �25m regeneration partnership between regional development agency One North East and property investor and developer Langtree is launched today.
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�25 million North East development opportunities go Onsite
A �25m regeneration partnership between Regional Development Agency One North East and property investor and developer Langtree has been officially launched today and named Onsite North East.
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Approval surfaces for canalside regeneration
A �42 million scheme to regenerate a canalside site in Smethwick has secured planning consent for a project which will bring 193 new homes to the town�s industrial heartland.
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Brindley Village receives planning approval
Regeneration partnership PxP West Midlands has received outline planning permission for the �42m Brindley Village II scheme in North Smethwick.
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Two more lettings at industry estate
PxP West Midlands has announced a further two lettings at its Radford�s Field Industrial Estate in Oswestry, Shropshire.
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Wellington over 90% full
Wellington Employment Park South, in north Liverpool, has secured another letting, which means the site is now more than 90%occupied.
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Langtree secures new tenants
Langtree has announced a further two lettings for its serviced offices at centrix@newton in Newton-le-Willows.
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North Notts College grows in Worksop
North Nottinghamshire College has leased additional space at Network Space�s Shireoaks Networkcentre in Worksop.
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New location for bus shelter firm
A Notts-based bus shelter maintenance company has leased new workspace in Mansfield.
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Connect double deal
Langtree has announced a further two deals for its selfcontained offices at Connect Business Village, in north Liverpool.
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Tembe expands into new unit
Tembe DIY and Building Products has expanded into a second unit at Network Space�s West Moor Park Networkcentre in Doncaster.
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Tembe expands in new unit
Tembe DIY and Building Products has expanded into a second unit at Network Space�s West Moor Park Networkcentre in Doncaster.
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Network Space provides shelter
Shelter Maintenance, the bus shelter maintenance company has leased new space in Mansfield.
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Flooring firm expands into Newcastle business park
A national flooring company has leased new space in Newcastle-under-Lyme following further business expansion.
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4M moves into High Carr
4M Flooring UK has taken a 3,466 sq ft industrial unit on a five-year lease from PxP West Midlands at its High Carr Business Park. The company, part of the Seddon Group, designs, installs and supplies commercial and industrial flooring.
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FMS moves to i2
FMS Data Cabling has taken a 3,090 sq ft workspace unit on a three-year lease from Network Space at its i2 Mansfield development. The company was established in 2002 to supply and install telephone and data infrastructure to all sectors of the market.
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Communications group on the move to new offices
Langtree has signed up Lloyds Business Communications for nearly 3,500 sq ft of office space at Mere Grange, in St Helens.
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Millers first to take place in park life
After a recent high profile launch Langtree has secured the first letting for its new business park in St Helens, Mere Grange.
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Surveillance Repair grows in Sheffield
The Sheffield arm of security system repair company Surveillance Repairs is expanding into larger premises at Network Space�s Vector 31 Networkcentre, in Wales Bar. The company has clients including Asda, Marks & Spencer and TK Maxx.
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Tenant moves in at Mere Grange
Langtree has secured the first letting for its new business park in St Helens, Mere Grange.
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Miller signs in St Helens
Developer Langtree has secured the first letting for its new business park in St Helens, Mere Grange.
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Hainbuch get key of the door as first let in Keys Business Village
An innovative new �6.4 million office scheme in the Midlands has received a vote of confidence after securing its first letting.
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Networkcentre is full of flourishing firms
A business which makes vacuum pumps has opened a new base at Moira.
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Removals firm on the move to Vector 31
NATIONWIDE removal specialists Clockwork Removals has moved to the second phase of Langtree�s Vector 31 business park in Rotherham.
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Hi-tech site is all set to boost town
King Sturge has been appointed as joint agents to market the new i2 development in Mansfield.
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Network Space wins award for Mansfield and Sherwood schemes
Developer Network Space Ltd has received the award for Regeneration Project of the Year at the annual East Midlands Property Awards....
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Industrial firm expands in Rotherham
Trutek Fasteners Ltd has purchased the unit from Langtree on the second phase of the Vector 31 business park between Sheffield and Rotherham.
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�8m block ready in park
Construction has been completed on an �8m managed office building in Trafford Park, for Economic Solutions.
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Developer launches third phase of employment park
Langtree is to launch the third phase of its Wellington Employment Park South development, in north Liverpool...
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Developer launches third phase of employment park
Langtree is to launch the third phase of its Wellington Employment Park South development, in north Liverpool...
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Homes plan to go ahead
A developer has promised a �250m housing scheme on Liverpool�s former Garden Festival site will go ahead despite the collapse of a construction company.
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Businesses connecting to new village
Connect Business Village, in north Liverpool, is reporting a string of lettings.
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Hope of 750 new jobs if ex-cinema demolished
Seven hundred and fifty jobs could be created if plans to tear down one of Bradford�s most iconic buildings � the former Odeon cinema � get the go ahead.
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Mere Grange open for business
Phase One of the Mere Grange Business Park, in St Helens, has been launched to agents from across the North West, following its completion.
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Regeneration Project of the Year
Network Space won this category because it is meeting the demand that start-up companies have for follow-on space, retaining them for the area and boosting the regional economy.
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Chamber gets plan preview
Bradford business leaders are to get a preview of the proposals to redevelop the Odeon site.
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A rosy vision for the Mersey
One of Liverpool�s most disputed derelict sites is finally having a makeover.
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Networkcentre to double in size
Regeneration company Network Space is to double the size of its Century Park Networkcentre.
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Stadium plan gets �4.9m injection
A multi-million pound investment into a new stadium for St Helens Rugby League Football Club has been approved.
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Langtree Group gets green light for Denton retail park
Langtree Group has secured detailed planning permission to build a retail park in Greater Manchester.
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Langtree lands north-east leviathan
Regeneration developer Langtree Group has won the race to jointly develop a 1,100 acre portfolio of brownfield sites in the north-east
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Saints joy over �25m stadium
St Helens rugby bosses today spoke of their delight after getting the green light for their new stadium.
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Sherwood Networkcentre office deal
Sherwood Networkcentre office deal
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Business centre helps small firms Connect
A New office development aimed at creating jobs in north Liverpool has opened its doors.
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Second phase complete at Vector 31
Second phase complete at Vector 31
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Saints fans over the moon at stadium plan go-ahead
Saints fans over the moon at stadium plan go-ahead
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Latest News
Langtree's public affair
Date: 3rd July 2009
Source: Property Week
Regional development agency One North East is teaming up with a regeneration specialist to push through development in a lacklustre market.
Last week, regional development agency One North East selected Langtree as a joint venture partner to develop and manage 25 of its sites across the region.
It was a coup for the north-west-based developer which has, along with its contemporaries, been hit by the stall in the development market. One North East now has the option to choose which other developers it will work alongside as it attempts to regenerate the region and the agency’s property portfolio.
For One North East it is a chance to generate a profit from the sites, most of which are redundant. As budget cuts at the agency and a fall in land valuations make development and site sales difficult, many agencies are now opting to invest with a developer. One North East and Langtree’s joint venture is a limited company, Onsite.
The parties have put in equal amounts of equity into the company; One North East has matched the amount invested by Langtree with assets. It is a freestanding limited partnership vehicle because it does not employ anybody. Instead, Langtree will manage the sites and carry out any development.
“All the agencies are now doing this sort of public-private partnership. Financially, it is an extremely viable and practical way to develop,” says John Downes, managing director of Langtree, which has a UK-wide portfolio worth more than £190m.
“The sites that have been assigned to us are all development sites, ranging from local opportunities for small businesses to flagship sites that will make a big difference to city landscapes,” adds Downes.
Langtree is an investor by trade, but four years ago it formed a development arm to take advantage of the booming market. It has worked with Advantage West Midlands to advance mixed-use schemes and will assume a similar role in the north-east. Downes believes being selected as One North East’s private partner has provided relief in a difficult market.
“We now have the opportunity to work with the agency on its whole portfolio for the next 15 years,” says Downes. “It is a promising prospect. Development at the moment might be dead, but for us there is a financial attraction. Rather than competing for different sites across the region, which we would then have to buy, we are able to build on government-owned land but share the profits through the joint venture.”
The vehicle will, over a 10-year period, create new development as the market improves. Langtree will receive management fees along the way.
“We are able to bring commercial sense to this whole development process,” says Downes. “Regional development agencies are commercially wise but not commercially motivated, often getting sucked into politics, which can mean that any property development aspirations come second. But we will bring a commercial reality to the whole venture and put a property dividing line between the two.”
The developer is realistic, however. One North East has a £30m land bank, but Downes appreciates that there is currently no market for it to start developing.
“At the moment it is not difficult to see that getting schemes to stack up in these sites will be hard,” says Downes. “Having only just been appointed, the initiative has not formally been launched yet, but the basic principal [behind] having us on board now is so we can bring in ideas and decide what will be on those sites.
“And the joint venture is not exclusively for us. We can bring in other private sector developers to assist us with the ideas for the 1,000 acres of development land that we will be working on.”
The 25 sites range from small plots in Berwick-upon-Tweed to key sites on Newcastle’s Quayside. Downes regards the Quayside site and another, on Newburn Riverside, as the “jewels in the crown”. All are expected to be developed into mixed employment uses that will include retail and offices across the portfolio, although the slant will be towards industrial.
Langtree’s role as a private sector partner has only just started, but key development work on the land could be announced as early as next year. “The vast majority of sites have the infrastructure put in already, but they are not quite finished in terms of making them attractive enough to be brought to the market in a cohesive way,” explains Downes.
“That is our goal now so that, eventually, [the sites] are capable of receiving development opportunities and, more importantly, investment. It’s an opportunity for us and the region at a time when not much is going on.”