Hargreaves bolsters it's portfolio with the acquisition of Homebase, Hove

Hargreaves bolsters it’s portfolio with the acquisition of Homebase, Hove

We can confirm our purchase of 182 Shoreham Road, Hove, a Retail Warehousing scheme let to Homebase, for £15,250,000.

The 35,500 sq. ft. (3,298 sq. m.) scheme is situated on the busy and prominent Old Shoreham Road on the west side of Hove. The purchase reflects a net initial yield of c.5.1% with 8 years remaining on the lease.

Tim Wilmer, Investment Director, Hargreaves Group comments: “The site benefits from a high density population with a relatively low level of retail warehousing supply, and comprises approximately 3 acres,”

Managing Director Alastair Skinner comments: “The purchase of this prominent retail warehousing site in Hove illustrates our ambitious growth plans for The Hargreaves Group for 2022 and beyond, and our investment strategy to acquire well located commercial investments with scope for asset management across the South East.”

Hargreaves was advised by KLM Real Estate. LaSalle was advised by Savills.

2021-12-07T10:54:51+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