Nuveen Real Estate
Octura, Southdown Park, Harpenden
Logistics, industrial & trade counter
4.0 acres/63,000 sq ft gross external area in 8 units
Speculative redevelopment of an existing asset
Taurus Developments is appointed as Development Manager by Nuveen Real Estate. Southdown Industrial Estate has been owned for many years by one of Nuveen’s retained pension fund clients.
Located in the prime Southdown industrial area of Harpenden, the current estate comprises 11 industrial/warehouse units. The asset is now vacant having reached the end of its physical and economic life.
The most appropriate strategy for the asset is comprehensive redevelopment for logistics, industrial and trade counter uses in a very under supplied market and where strong occupier demand is anticipated. Detailed planning permission was granted in June 2022 and the redevelopment in 8 industrial/warehouse and trade counter units will be undertaken on a speculative basis.
- August 2021
Planning Application submitted to St Albans City & District Council
- June 2022
Detailed planning permission granted
- March 2023
Anticipated commencement of demolition
- June 2023
Anticipated commencement of construction
- March 2024
Anticipated date of practical completion
LaSalle Investment Management has worked successfully with Taurus over the last four years and in that time Michael Gibbens has delivered two very successful schemes. Michael is extremely pragmatic in his approach and brings considerable experience, knowledge, skill and professionalism; optimising a project outcome and delivering significant value. He is also a trusted partner and it has been a pleasure working with him.Andrew Derry Development Director, LaSalle Investment Management