HIMOR moves on to former Shell site

HIMOR Group, the privately-owned land and property company, has relocated its head office from central Manchester to the Carrington Business Park in Carrington, Trafford.

This follows a company restructure in which HIMOR took over the ownership and management of the 1,655 acre former Shell refinery at Carrington.

HIMOR now owns more than 1.1 million sq ft of investment property, 2,000 acres of strategic land and is promoting a further 1,000 acres of land through the planning system on behalf of third party landowners.

The company, previously located at Clarence Street, has a strong balance sheet with consolidated net assets of £65m and an additional £15m of cash available for acquisitions.

As part of the restructure process HIMOR has also agreed a new £20m rolling credit facility with the Royal Bank of Scotland.

Will Ainscough, managing director at HIMOR Group said: “The last five years have been incredibly successful for HIMOR; we doubled the size of the business through organic growth in a very challenging environment.

“By consolidating the group structure and incorporating Carrington the company has significant growth potential.

“Going forward we are looking to expand our land promotion business across the UK and also add property to our investment portfolio. We are delighted to have agreed the new facility with the Royal Bank of Scotland with whom we have a long-standing relationship.”

RBS relationship director John Radcliffe said: “We have enjoyed an excellent working partnership with Will and the team at HIMOR.  The development of Carrington is an exciting opportunity and we are delighted to provide a flexible funding solution to support the Group’s strategic plans.”