Opus Land in record development deal
Developer Opus Land is to develop one of Staffordshire’s biggest design and build schemes, in conjunction with the Palmer GVA Property Fund.
Opus is linking with recycling and waste management company, Veolia Environmental Services, to create the latter’s new regional HQ at Kingswood Lakeside Park, Cannock, close to the M6 toll.
Veolia Environmental is to relocate from offices in Wolverhampton and Brownhills to the new location – a 47,000 sq ft BREEAM ‘Excellent’ rated self contained office building on 3.1 acres secured by Opus Land by acquiring two adjoining sites from Advantage West Midlands and Staffordshire County Council.
Opus, with backing from the Palmer GVA Property Fund, will be investing £6.2 million into the project which has been pre-let to Veolia Environmental on an 18-year term. The company claims the funding package arranged by Opus will show the Palmer GVA Property Fund a property yield of 8.35%.
The move will provide environmentally friendly, modern, comfortable, efficient office accommodation for all employees under one roof, helping to improve cross functional working and communication across all departments.
As with all Opus projects, the proposed development will include environmental technologies including; roof mounted solar panels which will provide the domestic hot water, a rainwater collection system which will be used to flush toilets and light sensors which will ensure the lights are only activated when the office is occupied.
Jean-Dominique Mallett, Chief Executive Officer of Veolia Environmental Services (UK) said: “The offices will provide our staff with a modern, comfortable working environment. We are also delighted to be able to make this long term commitment to the Staffordshire economy.”
Gareth Williams, Opus’ Development Director and joint owner said: “Opus’s ability to access in-house funds such as the Palmer GVA Property Fund combined with extensive experience and market knowledge give it a unique competitive edge in what is still an uncertain market.”
Veolia plans to move staff to the new offices, which can accommodate in excess of 400 employees and which will house a bistro and conferencing suite for 50 people, in May 2011.
