Europa Capital and Ediston Real Estate have launched a unique electric bicycle technology at their refurbished Cathedral Square office campus in Guildford. This technology is the first of its kind to be introduced in the UK by a landlord.
The Bewegen electric bikes benefit from a novel geo-fencing feature, which means they can only be used by tenants within a designated area and can be made secure without the need for a padlock or a docking station.
This revolutionary concept is set to re-connect the UK’s business parks to major transport infrastructure, town centres and local amenities. Furthermore, these electric bicycles are significantly faster than normal bicycles, as well as being relatively hassle free. With new developments facing increasing car parking restrictions and millennial office workers reliant on local transport, these geo-fencing electric bicycles are anticipated to provide an appropriate environmentally friendly solution for landlords and local authorities.
The technology has been installed as part of Europa Capital and Ediston Real Estate’s £10 million refurbishment of the Cathedral Square office building, which has just been launched into the market. These electric bikes will be for the exclusive use of Cathedral Square’s tenants, improving amenity and connectivity to the town centre and mainline station. In addition to the electric bikes, there are 60 regular cycle spaces, including a maintenance bay, and 243 car parking spaces. There is also an on-site café, operated by Charlton House, and a contemporary co-working environment situated within the building’s remodelled reception area.
Pre-lettings had been secured with Avaya and RBS/Coutts over 42,000 sq. feet. The remaining 73,000 sq. feet is available to let and comprises floor plates ranging from 8,000 sq. feet. up to 22,000 sq. feet.
James Fortescue, a Partner at Europa Capital said: “Lifestyle considerations are becoming increasingly important for office workers and these electric bikes, in conjunction with our significant improvements to Cathedral Square, provide a best in class offering for the discerning office occupier.”
Neal Jamieson, Director of Ediston, commented: “Cathedral Square has been transformed and now marries a contemporary and stylish appearance with modern, functional office space and tenant facilities. We are delighted to have launched this fantastic building alongside this innovative electric bicycle scheme.”
Joint letting agents for Europa Capital and Ediston are Lambert Smith Hampton and Knight Frank.
For further information, please contact:
Gordon Simpson/ Elizabeth King, Finsbury: +44 20 7251 3801
About Europa Capital:
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital has collectively raised 9 real estate funds and committed to over 124 transactions totalling more than €10.4 billion across 19 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of the Rockefeller Group, a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at www.europacapital.com.
About Ediston Real Estate:
Ediston Real Estate is a UK property company based in Edinburgh with assets under management in excess of £525 million. The company focuses on both investment and development, and has a track record of buying sub-standard, well located properties and transforming them into prime institutional quality investments. Ediston is actively investing across the UK through the Ediston Opportunity Partnership launched in 2015.