News

Howard Group developments on the increase

May 2010

The Howard Group of Cambridge is bucking the national trend and reports 'full steam ahead' on some major commercial developments in the region.

The Group has three active schemes underway in the principal towns of Haverhill, Peterborough and Bishops Stortford with future acquisitions in the pipeline for Milton Keynes and other principal East Anglian towns. The current schemes represent some £83.5m worth of development and investment value.

In Haverhill, HPG Developments, the development arm of the Howard Group, has unveiled its plans to redevelop the former Project Office Furniture site on Ehringshausen Way. The 6.5 acre site, known as Hamlet Green, was purchased by the Group in 2008 and the redundant 170,000 sq ft of buildings subsequently demolished in early 2009. HPG is now proposing to submit plans to create a family restaurant, four out-of-town retail units, a builder's merchant, start-up and business units on the site totalling 100,000 sq ft.

CGI of HPG's Hamlet Green development in Haverhill  

The Group's Ventures Board has also recently approved proposals to speculatively build a further 31,600 sq ft of industrial units at their Raynham Road Industrial Estate in Bishops Stortford.   The decision follows a successful pre-letting agreement to Edmundson Electrical Ltd for a commercial unit of 6,100 sq ft and will form part of HPG's major redevelopment of the Estate. Other units will be industrial/warehouse buildings with fully fitted first floor offices.   Construction work is underway for the new Edmundson building with completion due in the latter part of 2010. The company took a 15 year lease. Local company R G Carter have been appointed as main contractors for the project. Savills and King Sturge are marketing agents.  

Following a five year redevelopment programme, the Group has recently agreed the sale to Tesco of part of the Werrington Shopping Centre in north Peterborough.The purchase has now been completed and will enable the regeneration of this £40m scheme to get underway with Tesco's plan to construct a new 75,000 sq ft superstore. The plans for the regenerated district Centre also include a new family pub/restaurant, additional retail units and public open spaces. The scheme will revitalise and regenerate the whole district centre. Completion of the sale of the site to Tesco took place on 19^th April. HPG will continue to own and manage other parts of the Werrington Centre.

William Jewson, Development Director at HPG, said: "It is unusual at the current time for companies in the region to build speculatively and this clearly demonstrates the Group's confidence of a future economic upturn. All of the schemes will not only bring vacant sites back into use, but will help to enhance major regeneration and local job opportunities. The developments will provide a great mix of new employment space, retail space and start-up units that will attract new businesses to the local communities in this area of the country."