Track record

Industrial/Warehouse development, Watford

LaSalle Investment Management

Utilised planning application and policy processes to create value

Industrial development, Watford

Applications

Policy

Service

Industrial & Logistics

Industry

Jason Lowes

Jason Lowes

The project

The site comprised outdated industrial buildings within an established industrial estate that was subject to a high level of planning uncertainty, as the local authority’s aspirations for comprehensive regeneration of the area, combined with major risks to the delivery of necessary infrastructure, prevented further investment and improvements in rental income.

Rapleys’ role was to break through the deadlock, by utilising both the planning application and planning policy processes, to create value in the short and longer term.

Our solution

To create value in the short term, Rapleys prepared and coordinated the planning application to renew and upgrade the existing outdated and inefficient buildings to a highly sustainable, modern and high quality industrial/warehouse scheme of approximately 8,000sqm through a comprehensive redevelopment of the site, in a manner which addressed the balance between the local authority’s regeneration aspirations and the uncertainty regarding the infrastructure required to deliver the aspirations.

To create value in the longer term, Rapleys engaged with the local authority through the emerging Local Plan process to negotiate a move away from a position where the site would have remained earmarked solely industrial use, to allow future development (post the life-cycle of the secured consent) of a mixed-use scheme including both residential and employment development as part of the local authority’s aspirations to create a new mixed use urban quarter.

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