Latest news with #Railpen
Yahoo
22-05-2025
- Business
- Yahoo
Skanska constructs commercial office development Botanic Place in Cambridge, UK, for GBP 199M, about SEK 2.6 billion
STOCKHOLM, May 22, 2025 /PRNewswire/ -- Skanska has signed a contract with Railpen for construction and mechanical and electrical engineering services for the commercial office development Botanic Place in Cambridge, UK. The contract is worth GBP 199M, about SEK 2.6 billion, and will be included in the order bookings for Europe in the second quarter of 2025. The Botanic Place project is part of an overall investment by Railpen worth GBP 242M. The two-building development will create approximately 31,000 square meters (approximately 333,000 sq ft) of workspace. The project also includes restoring the building shell of the former Flying Pig pub. Botanic Place will feature 3,700 square meters (40,000 sq ft) of terraces on multiple levels designed for both private and communal use, enhancing connectivity and community interaction. Botanic Place aims to meet high operational and environmental standards, targeting BREEAM Outstanding, WELL `Platinum', and WiredScore `Platinum' ratings. Construction has commenced and is expected to be completed by early 2028. For further information please contact: Matthew Woodhouse, Senior Communications Business Partner, Skanska UK, tel +44 739 209 8683 Andreas Joons, Press Officer, Skanska Group, tel +46 (0)10 449 04 94 Direct line for media, tel +46 (0)10 448 88 99 This and previous releases can also be found at This information was brought to you by Cision The following files are available for download: 20250522 UK Botanic Place Railpen - Botanic Place 1 Railpen - Botanic Place 2 View original content: SOURCE Skanska Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Network
22-04-2025
- Business
- Fashion Network
French Connection still targets designer outlets, Caledonia Park arrival imminent
French Connection is set to open its latest outlet store at Caledonia Park, Scotland, as the Railpen-operated designer outlet village celebrates a strong first-quarter performance. The new standalone store, spanning 2,200 sq ft, will open shortly offering a range of the label's womenswear and accessories, including co-ord sets and floral prints, alongside lightweight trenches for the summer. The store will also feature the brand's 'open and modern minimalist design'. Simon Donoghue, head of Retail at French Connection, said: 'Our new store… will be a welcomed addition to our outlet portfolio as we drive forward our expansion strategy this year. We look forward to joining a destination that features such a strong line-up of aspirational brands with a far-reaching catchment.' The latest outlet village opening continues French Connection's retail-route-of-choice for its physical expansion. Pre-Christmas it opened a store at the London Designer Outlet (LDO) in Wembley Park after adding Clarks Village Outlet in Somerset and Livingstone Designer Outlet in Scotland to its 2024 roster. Ahead of its Caledonia Park arrival, Railpen said its village has experienced a strong start to the year, with year-to-date sales up 10%. Standout categories include sports & outdoor and health & beauty, 'all experiencing an uplift of 16% and 11% respectively vs the same period in 2024'. Maria Averkina, Asset & Development manager at Railpen, said: 'Womenswear is an important category within our destination and one which we are always looking to enhance and evolve, with French Connection adding to our dynamic tenant mix. The brand has achieved significant success since re-entering the outlet market in 2023 and is a distinguished retailer that will help us continue to break records and reach new milestones.'
Fashion Network
22-04-2025
- Business
- Fashion Network
French Connection still targets designer outlets, Caledonia Park arrival imminent
French Connection is set to open its latest outlet store at Caledonia Park, Scotland, as the Railpen-operated designer outlet village celebrates a strong first-quarter performance. The new standalone store, spanning 2,200 sq ft, will open shortly offering a range of the label's womenswear and accessories, including co-ord sets and floral prints, alongside lightweight trenches for the summer. The store will also feature the brand's 'open and modern minimalist design'. Simon Donoghue, head of Retail at French Connection, said: 'Our new store… will be a welcomed addition to our outlet portfolio as we drive forward our expansion strategy this year. We look forward to joining a destination that features such a strong line-up of aspirational brands with a far-reaching catchment.' The latest outlet village opening continues French Connection's retail-route-of-choice for its physical expansion. Pre-Christmas it opened a store at the London Designer Outlet (LDO) in Wembley Park after adding Clarks Village Outlet in Somerset and Livingstone Designer Outlet in Scotland to its 2024 roster. Ahead of its Caledonia Park arrival, Railpen said its village has experienced a strong start to the year, with year-to-date sales up 10%. Standout categories include sports & outdoor and health & beauty, 'all experiencing an uplift of 16% and 11% respectively vs the same period in 2024'. Maria Averkina, Asset & Development manager at Railpen, said: 'Womenswear is an important category within our destination and one which we are always looking to enhance and evolve, with French Connection adding to our dynamic tenant mix. The brand has achieved significant success since re-entering the outlet market in 2023 and is a distinguished retailer that will help us continue to break records and reach new milestones.'
Yahoo
06-03-2025
- Business
- Yahoo
Starbucks and Pizza Hut to be demolished for offices
Councillors have agreed on plans to knock down a Pizza Hut and Starbucks and replace them with new offices. Developer and pensions manager Railpen said it planned to create a "bold striking development" to replace "three low quality buildings" on Cambridge Retail Park. The office block would be part of a wider project to redevelop the retail park. Cambridge City Council approved the plans, but concern was raised the new building could dominate Newmarket Road because of its height, according to the Local Democracy Reporting Service. At a planning meeting on Thursday, Railpen also outlined plans for a new retail food and beverage unit, which have not yet been submitted. The developer said it wanted to offer a "diverse mix of facilities" and provide compelling reasons for visitors to return. It also hopes to redevelop the Beehive Centre, near Coldham's Lane, although that scheme was recommended for refusal. A spokesperson said: "It [Cambridge Retail Park] will feature retail frontage to the park, offices facing Newmarket Road, and extensive landscaping to align with the council's vision for this key city gateway." One ward councillor for the area, Naomi Bennett, said she "welcomed" redevelopment of the current "eyesore" site. But she added people living nearby were "extremely anxious about the construction process" and asked the developer to keep people informed throughout the work. Dave Baigent, another councillor, said another interpretation of the description of the office block as a "strong building" could be that it "dominated Newmarket Road". Officers explained plans for the building were to make it a "focal point in Newmarket Road" and it was "not much higher" than an existing Premier Inn. Matthew Howard, head of property at Railpen, said: "230 Newmarket Road is the latest of Railpen's investments in Cambridge. "Part of its strategy of supporting the UK's economic and social growth through the clustering of assets in key sectors and locations, it joins Mill Yard, its 180,000-sq-ft (16,700-sq-m) mixed-use campus adjacent to Cambridge rail station, and the nearby Botanic Place, Railpen's 500,000-sq-ft (46,450-sq-m) headquarters office development. "Railpen also has a number of other significant proposed developments in the city, including its 1m-sq-ft (92,900-sq-m) Beehive scheme, which has been called in by the Secretary of State." Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X. Shopping centre plans recommended for refusal Government intervenes in Beehive Centre plans Cambridge City Council Railpen
Telegraph
19-02-2025
- Business
- Telegraph
Broadband debt squeeze threatens taxpayers and rail pensioners' savings
One of Britain's fledgling broadband providers is facing a spiralling financial crunch that threatens to impact the retirement savings of hundreds of thousands of railway workers and the British taxpayer. Gigaclear is battling to plug a hole in its finances after one of its biggest investors rowed back on a commitment to provide hundreds of millions of pounds in critical funding. The financial crunch threatens to impact the £25bn Railways Pension Scheme (Railpen), which is a key investor in the broadband challenger outfit. Meanwhile, Britain's sovereign wealth fund is a guarantor to a big slice of its borrowings. Gigaclear, which targets its services at rural areas, has been left scrambling after struggling to secure promised cash from private equity firm Equitix. As part of a capital-raising exercise at the end of 2023, Gigaclear secured a pledge from Equitix to provide £420m of fresh capital to help bankroll the expansion of its network. However, Equitix has only injected a portion of what it committed to and is reluctant to invest more, according to financial newswire ION Analytics. Its investment was part of a broader financial package that included a new £1.5bn debt facility provided by a consortium of domestic and foreign banks. The UK Infrastructure Bank, which was re-badged as the National Wealth Fund in October, guaranteed £240m of the loans. It is solely owned and backed by the Treasury. Railpen became an investor in Gigaclear as part of an earlier cash injection in 2017, putting £45m into the company. Consultancy firm Teneo, a financial restructuring and insolvency specialist, has been hired to lead Gigaclear's search for alternative sources of funding. Gigaclear is one of a number of broadband challengers seeking to compete with former state monopoly BT. When interest rates were low, several start-ups seeking to build ultra-fast, full-fibre broadband networks sprang up. However, the vast sums of money required to build these networks have left finances stretched, particularly after interest rates surged in the wake of the pandemic. Billions of pounds have been poured into so-called alt-net brands in an attempt to boost competition in the broadband market but many have come unstuck after underestimating the sheer cost of building rival networks. In September, Gigaclear announced it would join other rivals in reining in expansion. It unveiled plans to cut jobs as part of 'planning for the next stage of its development', pledging to 're-focus on ultra-rural areas'. The company plunged deeper into the red in the most recent financial year, as pre-tax losses spiralled from £21.7m to £138.3m in 2023. Annual turnover of £33.8m was eclipsed by finance costs of £71.4m. Operating expenses jumped from £63.7m to £91.9m, and it ended the year with £10m of cash, down from £27m the previous year. Gigaclear was established in 2011 and at the last count had connected 560,000 premises in the UK, though 120,000 were signed up as customers. Though growth has accelerated in recent years, the firm is still a long way off hitting a target of 1m premises by 2027. Philip Jansen, the former BT boss, once predicted: 'There is only going to be one national network.' BT's faster and more reliable broadband roll-out would 'end in tears' for many of the underdogs, he said.
