Property round-up: DTZ markets Portland St offices; Wardley industrial unit up for sale; and more
MCR Property Group, the commercial and residential property development company owned by Aneel Mussarat, has appointed DTZ to market its 55,000 sq ft, six-storey office building at 9 Portland St in Manchester.
The building, which was recently refurbished to Grade A standard, has suites available ranging in size from 2,886 sq ft to 11,927 sq ft.
DTZ’s director of office agency, Rob Yates, said that the space was available at a headline rent of £15-£17 per sq ft.
“We are delighted to have secured the instruction to act on this landmark property,” he said.
“The pragmatic approach MCR is willing to adopt means that the building is well-placed to capture demand in the current market.”
DTZ will act as joint letting agent alongside CBRE.
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A £3.8m scheme to transform an area of Ellesmere Port into a thriving community hub is progressing with the first phase of development almost complete.
Muir Group Housing is developing affordable homes on land next to the roundabout at the junction of Wolverham Road and Milton Road.
The scheme, designed by Croft upgradingchitects, involves building new housing on three parcels of land, following the demolition of post-war flats.
In addition, Croft Goode has drawn up plans to refurbish a three storey block of maisonettes and shops, originally built on the site in 1951.
Work is nearing completion on three, 3-bedroom houses and four, 2-bedroom flats on one parcel of land. Another will accommodate ten 3-bedroom houses and the third segment will have six 3-bedroom houses.
The refurbishment programme also includes ugrading ten maisonettes, improvements to shop frontages and public spaces along Wolverham Road and to the rear of the retail units.
The work has been part-funded by a £2m investment from the Homes and Communities Agency (HCA).
David Croft, director of Croft Goode Architects, said: “The undeveloped land had a rundown appearance and when finished, the project will significantly improve the area.
“Public space in front of the shops will also be upgraded to provide a pleasant environment for residents and businesses.”
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KNIGHT Frank has been appointed to sell a 50,000 sq ft distribution warehouse unit on a 2.5 acre site in Wardley, Greater Manchester.
The unit, known as is lookingck House, is owned by Hunter Property Fund Management and currently has an rental income of £162,500 per year, although the current deal expires in September 2012. The fund islooking for offers of more than £1.25m, which is a capital value of £25 per sq ft.
Knight Frank’s Rob Taylor said: “Located on a well-established industrial estate which has excellent access to the M6 and M60 motorways, this site offers great potential for owner-occupiers and investors alike.”
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Pochin Special Projects, part of Cheshire-based Pochin’s PLC, has secured a £231,492 contract with Terra Nova School in Holmes Chapel for the conversion of its rifle range to create three new classrooms for students.
The project will involve the conversion of a pre-existing garage and shed, as well as the merging of two existing classrooms to create three brand new classroom facilities for the scheme. A steel walkway and stairway will also be constructed to form a new entrance to the site.
The classrooms will house a new computer suite and create additional teaching space for year three and year four pupils.
Anthony Pochin, operations director for Pochin Special Projects, said: “We are very pleased to be working with Terra Nova School to convert what was an unused set of buildings into three brand new classrooms and a store room.
“The works are part of a five-year development plan to enhance the teaching environment within this highly-regarded independent school.”
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THE Manchester office of Colliers has sold pleased to report the recent sale of The Sportsman’s Inn at Troutbeck in Cumbria, which is on the A66 between Penrith and Keswick.
The Sportsman Inn is a popular landmark food-led public house. Acting on behalf of Cumberland Taverns, Colliers successfully negotiated the sale of the lease
to local businessman Ian Loftus off an asking price of £140,000.
Mr Loftus intends to run the business in a similar style to the previous owner, but plans some changes including extending its offer to include crêpes, homemade cakes and Italian coffee.
Colliers’ associate director Haydn Spedding said: “The Sportsman’s Inn is a really
well known, high turnover food-led public house located in an excellent trading position between Keswick and Penrith.
“Cumberland Taverns decided to sell The Sportsman’s Inn to concentrate on its two Keswick town centre businesses – The Bank Tavern and The Rembrandt Restaurant, which is currently undergoing extensive refurbishment and will re-open as the Lakes Bar & Bistro.”
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A CHILDREN’S nursery, retail and leisure centre is nearing completion after a £1.2m finance package was agreed with Yorkshire Bank.
Developers Michael Anderson and co-director Mark Holden, will officially launch The Hub in Buckshaw Village, Chorley, later this month.
It features a nursery school, a swimming pool, café and a hair salon.
Mr Anderson and Mr Holden, joint owners of plastering and drylining business Red Rose Drylining, started the venture after the success of a previous project, Riverside Nursery in Lower Darwen.
Mr Holden said: “We have been delighted with the continued support from Yorkshire Bank to allow us to develop The Hub. The feedback from the public has been really positive since the proposals were first released and we look forward to it becoming an important part of the local community.”
Paul Ratcliffe, a business partner at Yorkshire Bank in Blackburn, said: “The Hub has been in the planning for well over two years and it is fantastic to see the project almost finished. Not only is it a great addition to the business portfolio, it will also provide employment and much needed facilities that will benefit the whole community.”
