£10 million Beacon sets new standards in office market
A £10 million office campus which has already provided headquarters for two organisations and around 200 staff is now attracting renewed interest after completion of the remaining two buildings.
PDR Construction is putting the finishing touches to the external amenities at The Beacon in Brighton Street, Hull, for client Horncastle Group which launched the project two years ago with help from the European Regional Development Fund (ERDF).
Garness Jones of Hull are marketing the new buildings as joint agents with JLL and are citing the success stories of the City Health Care Partnership (CHCP) and intermodal logistics specialists InterBulk to highlight the benefits for big players.
Ian Hodges, Managing Director of Horncastle Group, said: ‘The Beacon is a £10 million project and because it was supported by the ERDF we were able to deliver the quality which you would not otherwise achieve in this market.
‘The buildings are being promoted as headquarters or as offices for large employers because the first two properties have shown what is possible. There is an ample supply of small and medium-sized office buildings available in Hull, however at The Beacon we wanted to provide buildings suitable for larger businesses which historically have had very little choice in the market.’
David Garness, Managing Director of Garness Jones, said CHCP and InterBulk were attracted by accessibility and affordability at The Beacon.
He said: ‘The CHCP found that it was more cost-effective to buy their own headquarters at The Beacon than to continue renting and InterBulk saw their move as an affordable means of relocating into modern premises and staying in Hull.
‘Between them CHCP and InterBulk have brought about 200 people onto the site and the new offices are capable of adding between and 200 and 300 more people to the campus.
‘The facilities are a step up from anything else which is currently available. The Beacon is a bit different from other space and gives very good value for money. It is high specification but is available at market value whether you are renting or buying.’
The CHCP moved into the first building of 15,000 square feet on the site in January 2014 and InterBulk moved into 10,000 square feet in October that year. The third office provides 15,779 square feet and the final building, which was completed just before Christmas, is 10,463 square feet. Each is self-contained and has its own dedicated parking.
Amenities which have been added to the site include a Marston’s pub and restaurant and outlets for KFC, Costa and Burger King. Mr Hodges said another operator will open later this year.
He added: ‘We have been delighted with the performance of PDR Construction. They have delivered the buildings on time, on budget and to standard in terms of the quality of construction that we were looking for.’
Paul Dransfield, Managing Director of PDR Construction, said: ‘We have been involved with The Beacon for three years and it stands out as excellent example of developer, funder and contractor working together and delivering a quality office destination on this gateway site into Hull’.
‘When Horncastle, working with ERDF, pushed the button in early 2013 it was the first speculative office development in the area for more than five years and now, three years on, the team have delivered 70,000 square feet of Grade A office space which has attracted some prestigious tenants and attracted award nominations for outstanding design’.