News

HPG DEVELOPMENTS SECURES NEW LAND

March 2008

HPG Developments, part of the Howard Property Group, has purchased 2.35 acres of development land in Stevenage, from the £1.8 billion Arlington Business Parks Partnership fund (ABPP), which is managed by international property group Goodman.

Plot 2000 is the last remaining site left for sale on Arlington Business Park, located on Gunnels Wood Road only one mile from Stevenage town centre and less than half a mile from junction 7 of the A1(M).

Within close proximity to the Business Park is a retail park, Novotel Hotel and an Asda supermarket. Arlington Business Park totals 24 acres and is occupied by companies including Gates Ford, Go International, XI Tiles and Avanti Books. The site was purchased from owners, Goodman.

On finalising the deal, HPG Development Director William Jewson said, "We are very pleased to have purchased such a prime business site in this area of the country. We will be proposing a 50,000 sq ft office development split into two buildings, each probably 3 or 4 storeys. Once completed, we estimate an end value for the scheme of around £14m. This is a prominent gateway site in Stevenage with excellent communications to all major routes throughout the UK. "  

HPG will be developing the scheme themselves with planning being submitted in April this year. The purchase is in line with HPG's 2008 strategy and is in one of the company's targeted areas for land acquisition and development growth.