Property round-up: Invista buys Wirral warehouse for £8m, and more…
INVISTA Real Estate Management has bought a new 170,000 sq ft distribution warehouse at Bromborough on the Wirral in a deal worth more than £8m.
The warehouse, which has been pre-let to logisitics firm Great Bear Distribution on a ten-year lease, was bought from Hampton Brooms Estates and the North West Development Agency.
The warehouse is at Thermal Road opposite Cereal Partners’ factory in Bromborough. Great Bear currently has a contract to warehouse and distribute Cereal Partners products, so it said the new warehouse due to open in December will greatly reduce its carbon footprint.
Property agents Mason Owen represented Invista and Legat Owern represented Hampton Brook Estates. Lawyers Howes Percival represented Hampton Brook Estates, while Eversheds acted for Great Bear, Platt and Fishwick for the NWDA and DLA Piper for Invista.
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ASK Developments has appointed accountancy firm Grant Thornton as its new auditors, replacing Big Four accountancy firm Ernst & Young.
The Manchester-based developer, which is in the process of developing out its 2.256m sq ft First Street scheme on the southern tip of Manchester city centre, which includes a new 50,000 sq ft cultural facility containing a new home for the Cornerhouse arts and film complex as well as the Library Theatre.
Karen Campbell, a tax partner at Grant Thornton’s Manchester office, said: “We’re obviously delighted to be working with such a forward-thinking and dynamic developer.
“Ask has a clear strategic vision to take the business forward and a leading role to play in the development of Manchester’s built environment.”
Jonathan Cross, group financial director at Ask Developments, said: “It’s an exciting time for our business, with a number of large scale projects progressing and we are looking forward to working with Karen and her team.”
Grant Thornton has secured a number of major new appointment wins in the property sector recently, including being appointed as advisors to new New Charter Housing Trust and Adactus Housing Group.
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DEVELOPER Seddon Homes has launched a new development of eco-friendly family homes in Salford.
The scheme, known as Greenway at Unity Quarter, is based at Kersal close to Salford’s border with Prestwich. Seddon Homes is developing 39 three, four and five-bedroom homes on the site, which is the second phase of a joint venture with fellow housebuilder Miller Homes.
Seddon said the homes, which are priced at between £175,000-£250,000, will have several eco-features including low-energy light fittings and recycling areas built into kitchens.
Seddon Homes sales and marketing director Denis Maddock said that he expected interest in the scheme from local families keen to remain in the area but looking for more space.
“We are very excited about this development and are confident that there will be a great deal of interest in these very spacious properties,” he added.
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A MANCHESTER office building designed by architect Alfred Waterhouse is to benefit from major refurbishment.
The building, 41 Spring Gardens, is to be redeveloped by Wirral-based Associated Property Owners. The upper floors and the ground floor entrance foyer will be stripped back to its shell and then remodelled to provide around 17,000 sq ft of Grade A office accommodation.
The building is also being renamed as Waterhouse, 41 Spring Gardens, in honour of its famous Victorian architect, who also designed Manchester’s Town Hall, the Refuge Assurance and the Prudential building, as well as a number of buildings for Manchester University.
The redevelopment is set to begin in late July this year with the property being brought back to market in September. The fit-out work is being carried out by Manchester-based interiors firm Claremont Group.
Office space in the building will be available at a rental of £23.50 per sq ft, with property consultants P3 and BNP Paribas being instructed as joint letting agents.
Peter Gallagher, partner at p3 property consultants, said: “Waterhouse occupies an absolutely prime site at the top of King Street, at the very centre of the established business district – over 150 years in the making and still the beating heart of our city.
“City centre offices in Manchester combining an elegantly contemporary feel with a real touch of classic character don’t get much better than this.”
He added that the property could be leased in its entirety to a single occupant or split into several suites, with the smallest suite available being part-floor offices of just 650 sq ft.
