Home Commercial Property Weston Group invests £20m in new headquarters and serviced office complex

Weston Group invests £20m in new headquarters and serviced office complex

by LLP Reporter
5th Apr 19 10:17 am

Leading volume housebuilder Weston Group is investing £20 million in order to build a new circa £40 million (GDV) expanded headquarters and serviced office complex in Stansted which, once complete in 2021, will provide 95,000 sqft of Grade-A office space in two twin buildings.

The multi-million project is the result of Weston Group’s ongoing expansion, accommodating the staffing and resourcing needed so that the company can implement its future growth plans.

Located off Parsonage Road, close to Stansted International Airport and Railway Terminus, there will be a newly built headoffice building, alongside a refurbished existing building, both with hotel-like foyers with concierge; lifestyle amenities including restaurant/café, lounges and gymnasiums, alongside state-of-the-art conferencing, IT-communications facilities and staff and visitor parking bays.

The new complex is designed by Weston Group’s in-house architectural design studio, working in conjunction with leading London interior designer Oz Lancaster of OS Design, who collaborated with Weston on the specification and interior design of the foyers, meeting areas, lounges and executive office suites.

The new 49,000 sqft office building is currently under construction. Known as Skyway House, visitors will enter a glass walled double height foyer with reception desk. Security passes will open automated security barriers allowing access into a spectacular hotel-like double height central atrium.

The central atrium is designed to provide lounge areas and meeting areas with a restaurant/street café to one side of the central space and a drinks/coffee bar to another. There is also a fully equipped gymnasium with male and female changing/shower facilities and private meeting/conferencing rooms around the borders of the ground floor.

Access to the first floor is provided by a spectacular curved double staircase which rises through the atrium. There is also lift access to all floors and other stairwells. The building is complete with three floors of open plan office space and underground car parking.

Founded in 1987 and operating across London and the South East of England, Weston Group is on a major expansion drive. The group has four operating divisions: Weston Homes, the residential development business; Weston Business Centres, the serviced offices division; an environmental consultancy business and Weston Logistics, the Group’s logistics and plant hire business.

Over the last six months Weston Homes has acquired sites that will provide over £700 million (GDV) worth new homes across London and the South East, providing some 3,300 units, of which around 2,170 units (65%) are within Greater London. The Group’s current and pipeline development portfolio now stands at over 7,500 new homes, with a completed value approaching £3 billion.

In its latest 2017-2018 financial results, pre-tax profits were up 54.5% year-on-year whilst total revenue for the year was £257.1 million, up 29.4% yr-on-yr. Over the financial year, the business delivered £248 million of forward sales from 954 units, with an average selling price of £329,000. Over the last 12 months eight major developments have been 100% forward sold off-plan.

Bob Weston, Chief Executive of Weston Homes, says: “The group now employs over 460 direct staff, with additional contractors, suppliers and consultants working across the sites and reporting to headoffice. We are investing £20 million in our new headquarters which is essential for providing our staff with an enhanced working environment and managing our growth and human resource requirement; all crucial components for the delivering our £3 billion development portfolio of over 7,500 new homes.”

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