In Brief: £8m plan for Oldham key workers; Parsons Reiss wins contract; Debt Advisor moves; and more…

AN £8m plan to provide 140 homes for key workers in Oldham has been unveiled by architecture firm the Frank Whittle Partnership.
 
The architects’ detailed plans to create a range of one, two and four bedroom key worker units on a site near Oldham Athletic’s Boundary Park stadium are likely to be submitted to town planners by May 2009.
 
The six-storey development will be built for the key worker market, particularly the health sector.
 
The project, off Sheepfoot Lane, has been designed for property developers Roman Investments and forms part of the proposed masterplan drawn up by FWP for the regeneration of the Boundary Park area.
 
This £80m plan was given the go-ahead by planners early last year, but, in line with many similar projects across the UK, has been put on hold until the economy improves.
 
David Robinson, managing partner of FWP, said: “Affordable housing for key workers is an important priority for this area of Oldham.
 
“We have designed a modern building with clean lines that will greatly enhance the area. It will provide stylish self contained accommodation for local hospital workers as well as providing health centre facilities for the local community.”
 
 “We have worked hard with the developers to create a building which hopefully will lead to further regeneration benefits for the community.
 
“While all the partners in the Oldham Arena masterplan wait for conditions to become favourable, this is a step in the right direction of adding to Oldham’s stock of affordable housing.”

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MANCHESTER-based engineering company Parsons Reiss has been awarded a contract to complete a £200,000 rebuild of a tissue machine for the Fourstones Paper Mill in Northumberland, to improve its efficiency.

Managing director, Chris Wright, said: “We have invested time, money and our substantial expertise in creating both state-of-the-art systems and engineering services to increase customer profitability and reduce energy demand in the both the paper industry as well as a number of other industries.

“Apart from highlighting our capabilities to adapt to a changing global economy, this rebuild also proves that UK-based manufacturing can survive, or indeed grow, with the right investment and business stewardship.”

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DEBT advisory service The Debt Advisor has expanded with a move to larger offices in Old Trafford.

Previously at 454 Chester Road, it has moved to the 3rd Floor at Westpoint office building in Old Trafford. The 3,500 sq ft space has recently been refurbished.

Bev Budsworth, managing director, said: “This is an important step for us. Our current premises are under utilised and impractical. The new offices at Westpoint provide a far better use of space and have excellent on-site facilities for staff.

“The time was right to make the move to enable us to continue to expand our business throughout 2009. It was important for us to stay within the local area as we have a good reputation here and want to continue to develop our links with local organisations such as Trafford College who deliver training to The Debt Advisor.”

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LAW firm Cobbetts’ public markets team in Manchester has acted for London-based nominated adviser and broker Strand Partners on Central African Gold plc’s £5.7m placing.

The Aim-quoted gold mining and exploration company was established in London in 2003 to identify, acquire and develop projects in the natural resources sector, with particular emphasis on gold projects in Africa.  

It is currently managing and developing gold-producing projects in Mali, Botswana and Zimbabwe.

The share placing will enable CAG to enhance the value of its gold assets in Zimbabwe and Botswana and provide the company with the working capital to satisfy its financial obligations to Investec Bank and other outstanding commitments.

Alongside the share placing, CAG is proposing to dispose of its Malian assets in the short to medium term as a means to generate additional funds for the group.  

Sue Johnston and Charles Bond led the advisory team for Cobbetts.  

Sue Johnston, who led the advisory team for Cobbetts with Charles Bond, said: “CAG has a demonstrable track record and has become one of the leading mid-tier gold mining companies in Africa, despite facing difficult economic and political conditions. The share placing will allow CAG to create value for its shareholders, focus on furthering its remaining assets in Zimbabwe, Mali and Botswana and strengthen its overall financial position.”