Background

The Company completed a £1.65m refurbishment of an industrial unit in Biggleswade. The property comprises of a single let industrial building located off the A1, 50 miles north of London.

Aim/specification

The refurbishment significantly enhanced the energy efficiency of the building, leading to a net zero property for any future tenants. By removing the on-site gas supply, installation of Solar PV and installing LED lighting, the EPC rating for the office improved from ‘D’ to ‘A+’. These upgrades have also increased the estimated rental value (ERV) of the property, resulting in a positive net impact on its valuation.

The refurbishment works comprised:

  • Installation of new suspended ceilings to accommodate LED lighting.
  • Installation of aluminium double-glazed windows.
  • Installation of 8x 22kW electric vehicle (EV) charging points.
  • Decarbonization of the site through the removal of the gas supply.
  • Installation of air source heat pump to provide heating and cooling to the office.
  • Installation of solar PV of 423 panels with 320kw of solar array.
  • Addition of a bug hotel to promote maintaining a healthy local ecosystem.

Expected Outcome

The comprehensive refurbishment will increase quoting rents by 35.9% based on price per square foot.

Total cost of works

£1.65m

Impact on EPC

D to A+

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