Langtree rebrands as Network Space

CHESHIRE-based commercial property development, investment and management firm Langtree Group, owned by Bill Ainscough, has rebranded to Network Space.

Network Space is currently the name of the group’s investment and management operation, which has invested more than £30m in new property in the last three years.

The name will now apply across the group, encompassing the significant development operations of Langtree.

Development at Network Space will be led by Stephen Barnes, who becomes managing director of the development company.

As a group, Network Space now comprises a self-managed investment portfolio of more than three million sq ft and a development land bank of above 1,000 acres across the North and Midlands of England.

Richard Ainscough, who recently took up the role of group managing director said: “Network Space as a name originates from a public sector joint venture in which we developed an industrial and office portfolio that we now own and manage.

“This legacy neatly embodies what our business is about: partnership, development, investment and management. The future looks very exciting with our strong and experienced executive team, large land bank and significant financial resources we have the tools to capitalise in an improving market.

“We have a number of maturing development projects, our investment portfolio continues to deliver strong returns and our recent refinancing provides us with real financial firepower with which we are actively seeking new development and investment opportunities.”

In other key positions in the Group, Rob Gaskell has been promoted to Group finance director. Martin Mellor continues to lead the Investment operations with Nicky Jones heading up Property Management.

Meanwhile, Neptune Investments, a group of property companies, has unveiled its new name, Promenade Estates, following a rebrand as it looks to new investment opportunities.
 
The Liverpool-based company launched in 1989 with a Neptune identity. Since then it has has spearheaded projects such as Queen Square in the St George’s Quarter of Liverpool, Baltic Village, a PRS scheme in the Baltic Triangle, and Marine Point, the £60m regeneration project in New Brighton, Wirral.
 
The company has embarked on an overhaul of its brand with a new name in order to consolidate the series of companies and streamline the business.
 
Promenade Estates owns and manages over one million sq ft of prime residential and commercial property, with a rent roll of £9m and a capital value of £140m.
 
Peter Hynd, chairman of Promenade Estates and founder of Neptune said: “Promenade Estates is heralding in a new era and we wanted the new name to consolidate the existing projects and point to the direction the company is heading in in the future.

“We wanted to refresh the identity and rejuvenate the brand of Neptune Investments as some of our major projects come to their end, such as the regeneration of New Brighton, Marine Point.

“The project has been one of our main focuses for a number of years, and now we have finished our work in the area with the completion of The Prom, 24 luxury apartments on the waterfront.”
 
The Marine Point project is a large regeneration project saw the construction of a mixed use leisure site and a luxury residential development in New Brighton. The scheme has resulted in nearly 1,000 jobs for the seaside town, and transformed it into a contemporary resort that attracts visitors from across the North West.

In addition, Promenade Estates is also responsible for the £50m Baltic Village scheme, a new development consisting of 324 private rented apartments with hotel style concierge, overlooking Liverpool’s world heritage waterfront.
 
Daniel Hynd, Managing Director for Promenade Estates, says: “This year has already been hugely successful for us.

“We’ve strengthened our position and reputation in the market with a number of new lettings at Queen Square, and particularly with the development of the Baltic Village, Merseyside’s first PRS purpose built scheme. We felt it was time to assess where the company is going, and how we can continue to develop the Promenade Estates portfolio further.

“We are actively looking for new investment and development opportunities to complement our existing assets and we’re seeking new ventures to take the Promenade Estates brand to new heights.”

The restructure coincides with the appointment of Brian Meharg as finance director.

Promenade Estates appointed The Foundry Agency, a Liverpool creative agency, to design the new brand for the business.

The property company Neptune Developments – also Liverpool based – will continue under its current name.