March 8, 2014
Size Total 1m sq ft mixed-use
commercial/residential scheme – next phase originally consented for 170,000 sq ft offices, 90,000 sq ft retail
Value £150m when fully built
Funder Palmer Capital
Status Ongoing review, public realm works on site from January 2014
After grinding to a halt under its previous ownership, the waterside development of Finzels Reach is set to re-emerge onto the property stage during 2014.
Cubex director Gavin Bridge says this year will see it relaunching the scheme with a fresh armoury of website, brochures and marketing suite. Other key aims will be a focus on letting existing vacant space and making a start on £3m of public realm works. Plans for new development, meanwhile, will be revisited.
“The local property market has been encouraged by all this,” Bridge says, “and the mayor’s office has been very supportive.”
Martin Booth, partner of Knight Frank – one of the Finzels Reach agents – says the beginning of 2014 was going to be a period of “working very hard on taking forward a review of the elements”.
There is a consensus among city agents that existing space at Finzels Reach will be let before any new development takes place. But there is a welcome for progress made.
Andrew Batchelor, partner at Hartnell Taylor Cook, says: “It had stagnated, but now there is increased momentum.”
GVA’s David Mace says: “It was very negative, but now it’s good news that it is moving forward.”