Healthcare: Monkwearmouth Hospital, Sunderland
In 2022, we worked in partnership with the developers Argon PDS/SRM Capital Ventures, to launch a new project to redevelop a mental health facility within the grounds of Monkwearmouth NHS Hospital in Sunderland. The building which previously housed the Monkwearmouth hospital had been earmarked for demolition due to being structurally unsound and unfit for purpose.
We delivered a new 35,000 sq. ft state of the art, environmentally-friendly space for the service and the communities who need to access it. We felt this was an opportunity to provide a long-term stable income for the pension scheme, while contributing to a much-needed local service.
Logistics: South Mimms Logistics Development
We have recently received planning consent from Hertsmere Borough Council to develop a single 120,000 sq ft logistics facility at South Mimms as part of Railpen’s portfolio of X-branded industrial parks. The new site will join our existing logistics facilities at Waltham X and Dartford X, with all three sharing the same characteristics and developed in partnership with Wrenbridge in a prime location around the M25.
The proposals are targeting EPC A+, BREEAM Outstanding and 30% Biodiversity Net Gain. Large water features, wildflower meadows, footpaths (on and off site), and an orchard will all be established as part of the development, creating an excellent place to work with staff wellbeing high on the agenda.
Retail: Caledonia Park
Our investment in Caledonia Park is transforming the former Gretna Gateway Outlet Village into Scotland’s premier designer village and creating a vibrant hub for retail and dining that lays the foundations for long-term growth.
Positioned in the South of Scotland next to the English and Scottish border, and adjacent to a major motorway with excellent connectivity, Caledonia Park benefits from a far-reaching catchment with lots of spend potential. It attracts visitors from a wide range of areas, whether that be international tourists or locals from a broad catchment, including Newcastle, Lake District, Carlisle, and Glasgow.
A lot of consideration, time and investment has gone into making Caledonia Park all that is it today. The refurbishment by Railpen involved a major, full-scale enhancement of the scheme, creating a more contemporary, timeless, and village-like environment. Units were transformed to increase space for anchor retailers such as Nike and Adidas, enhancing the overall experience. Throughout the refurbishment, sustainable materials were used with a key focus on blending the heritage of the location and contemporary Scottish architecture.
The evolution of Caledonia Park is one that never stops, as it looks to ensure it always remains relevant and dynamic. The leasing strategy and tenant mix reflects this approach as it hosts an array of leading world-class retailers such as Tommy Hilfiger, Calvin Klein, Hobbs, Phase Eight, BOSS, and POLO Ralph Lauren, as well as a burgeoning F&B portfolio, including the likes of Cornish Bakery.
In addition, Caledonia Park hosts several events on-site for both brands and visitors to get involved in. This ranges from Comic Con, which was shortlisted for a REVO award in 2023, Late Night Shopping Entertainment throughout the winter months, or the X Border 10K race, which is sponsored by the scheme and brings together thousands of runners at the finishing line, offering exclusive discounts to participants on the day.
Energy: Bracks Solar Farm, Cambridgeshire
Our ethos is centred around providing sustainable, long-term returns for members while having a positive impact on the world they retire into. This is why we focus a lot of our attention on renewable energy investments such as wind farms, solar farms and biomass projects.
In late 2022, we acquired Bracks solar farm from BayWa r.e. UK Ltd., a global renewable energy company. Bracks is a 30 MWp project providing enough clean energy to supply 8,000 UK households each year.
This acquisition marked the second deal between Railpen and BayWa r.e., the first of which was the purchase of Tralorg Wind Farm in 2019. These acquisitions expand on our broader renewable energy investments including the purchase of 90% of Carraig Gheal Wind Farm in Argyll, our investment in Sleaford biomass renewable energy plant, our investment in the UK battery energy storage platform, Constantine Energy Storage, our joint venture with GreenPower to co-develop the Barachander wind farm and our ownership of AGR Power, a leading UK renewable energy developer. This demonstrates our commitment to achieving Net Zero across our investment portfolio while bolstering the local economies, creating job opportunities and enhancing sustainable urban development.
Our continued investment in renewable energy also supports the UK government in achieving its decarbonisation targets.
UK renewables and infrastructure: AGR Power
We have a 50% shareholding in AGR Power (AGR) , which is a proud developer of the UK’s largest and most technologically advanced sustainable greenhouse project, Fenland Greenhouse, in Cambridgeshire.
Powered through a combination of water-sourced heat pumps and CHP gas engines, coupled with a back-up boiler system, the greenhouse spans over 22 hectares and produces up to 2.5 million vegetables a week.
The partnership marks a significant milestone for both Railpen and AGR, who will work collaboratively to grow AGR’s existing presence in the UK renewable and infrastructure market while exploring new territories and building technologies that will expand AGR’s existing 2.5GW development pipeline.
We have committed to AGR’s near-term UK solar, Battery Energy Storage System, and greenhouse projects. This investment will facilitate the construction of 160MWp of solar photovoltaics, 150MW of BESS, and AGR’s second sustainable greenhouse in the coming years.
Developments: Cambridge
We are one of the largest investors in Cambridge. In addition to several existing commercial and retail sites, we are proud to be developing a cluster of assets that place us at the heart of the city’s growth across science, technology, engineering and mathematics – sectors where we anticipate real growth in the UK, and which could bring significant long-term benefits for our members.
Our new sites:
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Mill Yard – mixed-use development close to Cambridge Station
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Botanic Place – the most sustainable speculative office scheme outside London
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The Beehive – a new world-class innovation park, and an exciting retail and social hub
Our existing sites include:
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1 Station Square – office and retail space
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21 Station Road – office and innovation space
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Botanic House – office building
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Cambridge Lakes / Coldhams Lane – commercial trading park
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Cambridge Retail Park – retail park
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Coral Park Trading Estate – industrial trading park
Find out more about our developments in Cambridge and track their progress at https://www.railpencambridge.com/
Life Sciences: Eastpoint, Oxford
Following our significant investment in innovative sectors in the city of Cambridge, we have been granted consent by Oxford City Council to redevelop Eastpoint Business Park in the city to create a 200,000 sq. ft market-defining life sciences campus.
Positioned in a prime location two miles south-east of Oxford city centre and in close proximity to Oxford Business Park and Oxford Science Park, the Scott Brownrigg-designed scheme will comprise three four-storey laboratory buildings and a single-storey amenity building. The space will suit a wide range of tenants and provide occupiers with flexibility, with 55% CL2 laboratories and 45% offices to facilitate cutting-edge research and collaboration.
The redevelopment will also include a significantly enhanced public realm, prioritisation of pedestrian movement, active ground floors and high-quality public amenities. Another key feature is its integration with the local community, with the revitalised scheme conceived as a focal point for interaction between STEM and educational outreach. A ‘Learning Lab’ will provide local students with access to state-of-the-art facilities and access to professionals working in the STEM sector, while a publicly accessible cafe, social hub and green space will create a communal heart.
Offices: Thames Wharf Studios
In 2018, we acquired the freehold interest in Thames Wharf Studios, Hammersmith – an iconic riverside workspace, offering a unique warehouse-style design overlooking the River Thames.
The building, transformed in the 1980s by renowned architect Richard Rogers, boasts a rich history as a hub of creativity and innovation. Once an industrial site, it is now home to architects, artists and the iconic River Cafe.
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