Property investor completes on new residential development
North West property investor The Heaton Group has completed works on its latest residential development, Stone Cross House, in Bolton town centre.
Situated within the £150m Church Wharf regeneration area, Stone Cross House has been redeveloped from disused office premises into one- and two-bedroom luxury apartments with car parking available for tenants.
Comprising 61 units, Stone Cross House is Bolton’s first high-specification, ‘city living’ style apartment block, with a top-floor penthouse and rooftop terrace.
The group has started taking viewing requests from both tenants and prospective investors, with a limited number of investment properties still available.
Manchester commercial law firm Kuits is legal advisor to The Heaton Group.
A team, led by residential property associate Claire Heron, worked in partnership with the investor throughout the lockdown period to progress purchases in a timely manner.
John Heaton, managing director of Wigan-based The Heaton Group, said: “During the current pandemic we have continued to progress developments, working professionally and continually adapting to keep within government guidelines at all times.
“This has resulted in the Stone Cross House build continuing on schedule, meaning it’s now ready for completion and tenants to move in this month.
“We remain optimistic about the future and are currently working with Kuits to acquire and obtain planning for new key sites around the North West.”
Claire Heron, residential property associate for Kuits, said: “Throughout the lockdown period it has been crucial for our developer clients that we continue to drive through purchases smoothly and in a manner reassuring to their buyers.
“Working remotely, we have been able to achieve this with absolutely no impact on our high service levels.
“Our current view of the market is that things are starting to pick up again and there are significant opportunities to be had for the developers, such as The Heaton Group, displaying confidence in the future.
“There is certainly a danger emerging that developers and investors too slow off the mark will get left behind.”
