Housing association acquires Stockport property in £4m transaction
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The Real Estate team at JMW Solicitors has advised Sina Assets on the £3.9m sale of Homa House, Stockport.
The Marriott Street building has been acquired by a housing association.
The new-build residential scheme was developed by Sina, comprising 20 one-bed and 12 two-bed apartments, close to the centre of Stockport.
Stockport will benefit from extensive regeneration in the coming years, particularly its ‘Town Centre West’ area, where the Stockport Mayoral Development Corporation is set to deliver a 20-year vision to create a new ‘walkable community’ with 3,000 new homes.
Reza Negarestani, director at Sina, said: “The need for affordable housing is well documented, so it’s positive to be able to contribute to closing that gap, particularly with such high-quality homes.
“The apartments have proved very popular, with the building completely let on completion.”
Ruth McCarthy, partner and joint head of real estate commercial at JMW Solicitors, said: “This is the latest in a string of positive deal announcements for Stockport, and provides much-needed affordable housing stock.
“There is a huge amount of interest in the town, which will continue to accelerate as the regeneration of Stockport Town Centre West moves forward.”