‘New beginning’ for Urban Splash after £77m sell-off

MANCHESTER property developer Urban Splash has sold most of its flagship schemes, including 654 apartments, to social housing landlord Places for People in a £77m deal.

The transaction is part of a major overhaul of the debt-laden company's structure that will see it operate under a number of new debt free corporate entities and look for joint venture opportunities.

Co-founder Tom Bloxham described the move as a "new beginning" for the company which has been hamstrung by the depressed property market and debt... For the full story register now for free or login below...