Aviva Investors' Uxbridge Development Is Underway—And Set To Bring Something Special To The City Centre
The regeneration of Uxbridge is one of London’s most exciting projects, having snared the personal attention of then-Mayor Boris Johnson back in January 2016. Johnson parceled out £2M from the London Regeneration Fund to the Hillingdon neighbourhood for improvements within the town centre such as rejuvenating High, Vine and Windsor streets, and creating a community space outside the Civic Centre.
Businesses got in on the action; notably Aviva Investors jumped in with plans to build Belmont, a thoroughly modern building in the heart of Uxbridge Town Centre. Bisnow talked with asset manager Julian Cobourne about the development and what’s next for the company.
The construction works are progressing very well, Julian tells Bisnow. The company is 12 months into its 18-month construction programme and is on target to complete the building by December 2016.
When completed, Belmont will provide 125k SF of Class-A office space, including two roof terraces and a full-height atrium. The redevelopment will include renewable energy technology, energy-efficient building services, a green roof, landscaped private terraces and public areas. These will improve the biodiversity of the local area and will provide high-quality community spaces to both occupiers and visitors. The scheme is on track to receive a BREEAM Excellent rating.
Like construction, pre-leasing is breezing right along. The company is in discussion with several parties but, Julian says, pre-letting is notoriously difficult in this market as generally, prospective tenants like to have the opportunity to inspect a completed space before committing. On average there are only three pre-letting per annum in the Thames Valley.
Aviva is targeting corporate HQ occupiers, Julian says. He notes Uxbridge is a key centre within the Thames Valley and west London and has a large concentration of international businesses. Belmont is well-placed to meet the requirements of all those businesses.
Julian also tells us Belmont's future occupiers could employ over 1,500 staff within the building, which will represent to Uxbridge new opportunities for local employment and trade for local business.
In addition to Belmont, Julian is also involved in refurbishing 11 Portland St in Manchester, a 160k SF office building in the city centre, and the development of a new 210-key Premier Inn at Cardiff Bay, and the refurbishment of Compton House, a 30k SF office building outside Guilford.
