Hargreaves Group acquires 27,356 sq ft Office Wellington Gate in Royal Tunbridge Wells

We are pleased to announce the acquisition of Wellington Gate, a modern, Grade-A office of 27,356 sq ft in Royal Tunbridge Wells for c.£7m.

Arranged over ground and 6 upper floors, the building benefits from an excellent location within the town centre. Hargreaves have acquired the building with the plan to undertake a comprehensive refurbishment of the entire building to significantly reposition and improve its EPC rating and overall ESG credentials to place it at the forefront of the Tunbridge Wells market.

Alastair Skinner, Managing Director comments: “This building represents a fantastic opportunity for us to use our knowledge and expertise to unlock the building’s full potential and create a market leading future proofed sustainable office. As a project it is an opportunity for us to develop a building that meets our commitment to embedding ESG factors in all our decisions and operations. The acquisition demonstrates our appetite and long-term strategy to grow our portfolio across the South East.”

Tim Wilmer, Investment Director: “This office has all the credentials for an excellent refurbishment to create a best-in-class office building in a prime office market location in the South East. The refurbishment opportunity for the building will enable us to let the vacant floors and set a new rental level within Royal Tunbridge Wells.”

2022-08-16T15:01:23+00:00

Objective	Target Year
Establish an ESG working group	Established
Develop a website section disclosing ESG strategy and progress	Completed
All new developments must be sustainable developments	Annual
Implement a process for regular asset-level performance review	2024
Set minimum standards for major development and refurbishments	Completed

Objective	Target Year
Integrate Wellbeing Principles into new development or refurbishments	2024
Establish biodiversity net-gain objectives for new developments	Completed

Objective	Target Year
Maintain zero waste to landfill (controlled assets)	Annual
Complete waste audits to identify improvement opportunities	Completed
Establish a process to gather waste data for developments	Completed
Reduce like-for-like waste generation by 5% for controlled assets	2025
Increase recycling rate by 50% for controlled assets	2025

Objective	Target Year
Procure 100% renewable electricity certified	Completed 2022 / Ongoing
10% reduction in like-for-like energy use for controlled assets	2025
100% actual data for all managed sites	Completed
Annual full GHG emissions assessment	Annual
Develop a Science-based Target (SBT) / net zero	Completed 2022 / Ongoing
Achieve a minimum Building Energy Rating – B EPC for all assets	2030
Develop asset-level roadmaps for reducing GHG emissions	Completed
25 EV charging points installed and facilitated	2025

Objective	Target Year
Maintain a gender balance across teams (long-term)	2025
Establish a fund to support training with professional bodies	Fund Established
Establish an annual volunteering day supporting local community	Annual
Partner and support local community groups and charities	Annual