Property round-up: Urban Splash strikes Matchworks deals; First Street welcomes Ladyboys; and more
DEVELOPER Urban Splash has signed lease deals with five new occupants at its Mersey House building at the Matchworks development in Speke, leaving just two units available at the scheme.
The firm said that lifestyle company Il Santuario, solicitors Handley Law, post-production agency General Post, cleaning company Poppies and residential accommodation company Palatine had all taken office units within the Grade II-listed building, which was converted into office space by Urban Splash in 2009 as part of its Matchworks development at the former Bryant & May factory.
In total, some 20,000 sq ft of new workspace was added. Urban Splash said that it now planned to create extra small office units starting from around 1,000 sq ft of space.
Paul Jones of Urban Splash said: “In the past couple of years, we have been dealing with lots of new start-up businesses and ones relocating to the area who need small office space, want cost certainty and flexible terms but don’t want to compromise on quality; Mersey House fits the bill perfectly.”
::
RETAILER JD Sports Fashion has taken an extra 5,683 sq ft of office space next to its existing 55,0000 sq ft headquarters at Castlebrook Business Park in Bury.
The firm has taken the extra space at Balmoral House to support stores which have been producing stronger trading figures. It now occupies around 75% of Balmoral House as well as all of the neighbouring Edinburgh House building.
Aviva Investors, advised by Rupert Barron from the Manchester office of Colliers, let the space on a five-year lease at a headline rent of £13.20 per sq ft.
He said: “The requirement for additional office space by JD Sports Fashion reflects the ongoing success of the business and we were delighted to conclude a further deal with them.
“The remaining available space at Balmoral House comprises small office suites that would be ideal for a supplier to JD Sports Fashion or local businesses.”
Giles Selby, estates controller of JD Sports Fashion, said: “We are pleased to have been able to secure additional space at Castlebrook Business Park.
“Following further expansion, it has been necessary to acquire further office space at Balmoral House. This will ideally complement the current office accommodation we already occupy within the building.”
::
ASK DEVELOPMENTS’ First Street scheme in Manchester is to host the two-week visit to the city from the Lady Boys of Bangkok.
TYhe touring show is relocating the Sabai Pavilion from its previous location at Sackville Street car park onto Ask’s First Street scheme from from Friday, July 1 until July 16.
First Street is eventually set to host a 50,000 sq ft building which will provide a permanent home for both the Cornerhouse art cinema and the Library Theatre company.
John Hughes, director of Ask Developments, said: “First Street is a perfect location for such events because of its size, ample parking, excellent transport links and proximity to bars and restaurants. Hosting the Lady Boys at First Street is an excellent way to showcase the development.”
::
PROPERTY consultancy advised on five lettings in the south Manchester industrial market to SMEs.
The firm advices on the letting of a 6,324 sq ft unit at 9 Rugby Park at Heaton Mersey for a three-year period to Edge Dream Media, City Cargo, has let the 3,523 ft Unit 26 on Station Road in Heaton Mersey, Clampco UK has taken a 2,395 sq ft unit at Linkwood Industrial Estate in Reddish and a private investor has bought the 11,239 sq ft Unit 4T building at Bramhall Moor Industrial Park in Hazel Grove.
Alex Smylie, senior surveyor in DTZ’s industrial and logistics team, said: “We are delighted to have successfully completed these transactions, which demonstrate the continued appetite from smaller occupiers in south Manchester locations.
“Local occupiers have been particularly hard hid in recent times and these latest deals reflect an improving economic outlook as we emerge from recessionary pressures.”
::
MEPC has said that it agreed 19 lettings in the first five months of 2011 at Birchwood Park totalling 24,000 sq ft of space.
Nine of these deals were with existing tenants, but ten new arrivals including recruiter FSR Group and stationery distributor Antallis Printall took 7,925 sq ft of new space.
The average deal size of 1,269 sq ft reflects the trend highlighted in the recent Warrington Annual Property Review, which pointed to a preponderance of small deals in the town’s 2010 office market.
MEPC Birchwood Park’s head of leasing, Jonathan Black, said: “The park has for a long time encouraged occupation by new and small businesses, and our work with them to support on-site growth continues to be rewarded, as they expand into our larger premises.
“Yes, like all the other business parks we welcome and target large enquiries, and will continue to pursue these with determination and success to grow the park. But we have developed our offer to allow us to play the long game as well, drawing in entrepreneurial businesses and helping them to flourish.”
::
CHRISTIE + Co’s Manchester Office has been appointed to sell the former Bull’s Head pub on Gorton Road in Stockport off a guide price of £319,000.
The firm said that the property, which is currently being used as a builders’ merchants with a ground floor trade counter, includes a four-bed owners’ accommodation and two-bed flat. There are also outbuildings currently used for storage.
::
A company which specialises in the installation of photovoltaic (PV) solar panels has agreed a new five-year lease on 6,000 sq ft of office and warehousing space which will form its new headquarters at Wardle, near Nantwich in Cheshire.
The Green Electrician both designs and installs grid-connected and standalone green energy systems for residential, commercial and not-for-profit clients. It was advised on the letting from landlord Simon Midwood by Brabners Chaffe Street.
Rupert Higgin, director of The Green Electrician, said: “This is a very exciting time for The Green Electrician. In just over a year we have grown steadily, taking on 26 new staff and introducing a fleet of four installation vehicles. The new offices and warehouse will help us to provide an efficient, high-level service for all of our customers, past and present.”
Alan Newell of Jolliffe & Co advised the landlord.
::
TRAFFORD PARK-based developer Property Alliance Group, has signed up a new tenant to its No. 1 Central Street building Manchester city centre.
BCM – a provider of sustainable building services – has outgrown its previous premises at Portland Tower and taken a 2,351 sq ft office suite on a five-year lease at One Central Street.
Dominic Pozzoni, director, Property Alliance Group, said: “We are delighted to be able to accommodate another Manchester company’s growth at No. 1 Central Street. Located off Albert Square, the building as its name suggests, is central for BCM to reach its existing and new clients.”
::
PROPERTY consultancy Knight Frank has been appointed by Cedar Assets to market Megaspace, an industrial unit on Deeside Industrial Park in Clwyd, North Wales.
Megaspace is a self-contained manufacturing industrial unit together with additional two-storey office accommodation totalling 94,736 sq ft. It can also be sub-divided into two self-contained units.
Other tenants on Deeside Industrial Park include Toyota, Iceland Foods and BASF.
John Brown, a surveyor for Knight Frank, said: “Deeside Industrial Park has established itself as one of the largest industrial estates in the region, thanks to the quality of build on offer and its ability to serve the wider North Wales and North West areas.
Knight Frank is the sole letting agent for the scheme.
