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Transformative developments

Our projects

Sixpenny Group focus on property investment and development opportunities that deliver transformative benefits for all stakeholders involved.

Our market insight and robust analysis identifies real estate opportunities that re-imagine what a space can be, unlocking potential and creating long-term sustainable value.

A recent example is the Gemstone Building at the Manor Royal business district in Crawley, on the outskirts of London Gatwick Airport.

Sixpenny Group EG Awards Finalists
Recognition of those who have showcased the very best across the built environment with a focus on operational excellence, strong financials and innovation within the business.
AT A GLANCE – THE GEMSTONE BUILDING

Delivering high quality warehousing space to capitalise on demand for logistics capacity in connected locations.

Sector:
Warehousing Logistics
Size:
82,000² ft
Location:
Crawley
Development type:
Spec
Certification:
BREEAM ‘Excellent’
Project length:
14 months
Tennant:
Evri (Hermes)
Acquirer:
CBRE Global Investors
Value:
£47.7million
Background

In 2021 Sixpenny Group completed the off-market acquisition of this 6.2-acre site. Part of the Manor Royal business district in Crawley, it is just 6.5km from London Gatwick Airport, with easy access to major transport links such as the M25 London Orbital Motorway.

Formally the headquarters of Virgin Group, the site was re-advertised for multiple tenancy for 3+ years, however struggled to secure enough tenants to succeed. It was ripe for re-development given its transport links and the huge demand for logistics hub space created by the growth of online retail.

Development

Sixpenny Group worked closely with local authorities, business leaders and other stakeholders to ensure our vision for a state-of-the-art distribution facility was understood and shaped by their priorities.

The chosen development partner for the project was Arcus-PCD, who share our focus on creating quality spaces that deliver long term value.

It was the strength of this relationship which ensured we delivered the development on time and in budget, despite the challenges posed by the COVID-19 pandemic, materials shortages and labour supply pressures.

ESG was a key consideration in the design and construction of the Gemstone Building. We ensured that the latest processes and technologies were harnessed, resulting in the building securing BREEAM ‘Excellent’ certification.

  • 82,000² ft warehouse
  • 12.5m eaves
  • 22 docking bays
  • 55-metre yards on two elevations
  • High-capacity EV charging
  • LED lighting on sensors throughout
  • Rainwater harvesting
  • Low carbon heating and solar panels

“This site will facilitate the growth of the business as demand has continued to increase. Gemstone has a great location and is key to bolstering our existing network. This new depot will help us to continue processing and delivering a record number of parcels for all our clients and customers.”

Edmond Leahy, Senior Estates Manager at Evri
Outcomes

In May 2022 Sixpenny Group signed a long-term pre-lease agreement with Evri (previously Hermes UK), the UK’s biggest dedicated parcel delivery company.

The Gemstone building met Everi’s growth needs and enabled the business to:

  • Double the capacity of its previous operation to handle more than 200,000 parcels a day.
  • Open a 24/7 operating window to meet increasing demand.
  • Harness renewable energy and lower carbon emissions in line with its own focus on sustainability.
  • Secure its presence on the strategically important Manor Royal site for the next 15 years.

Sale

With the development completed in just 14 months and a high-profile long-term tenant secured, Sixpenny Group sold the Gemstone Building to CBRE Investment Management for £47.7 million in September 2022.

“Gemstone is a development that encapsules Sixpenny Group’s approach to creating stand-out property investment and development opportunities. The acquirer has secured a world-class warehouse facility in a prime location. It benefits from a top-tier multinational tenant whose growth and sustainability targets will be supported by the property for the next decade and beyond.”

Egor Shestakov, Director of Sixpenny Group