Hurstwood boosts commercial portfolio with £14m of new acquisitions

Hurstwood Holdings, the Manchester property investment and development business, has announced deals worth £14m in recent weeks, taking its total spend on new properties this year to £35m.

The deals continue to grow the group’s national portfolio, which is now valued at more than £275m.

The company has completed the purchase of six new properties, both industrial and office, nationwide which include:

• Fraser House in Ipswich: A 16,409 sq ft multi-let office building on Museum Street in the town centre where Hurstwood already owns another building. The prominently located, period building is fully let to Savills (UK) Limited, Peopleplus, Netscout, Attwells and Brewin Dolphin.
• Bridge of Don Industrial Estate in Aberdeen: Comprising six warehouse units, totalling 30,470 sq ft and fully let with occupiers including Andrews Hydrographics.
• Vision Park in Peterborough: Six modern warehouses totalling 15,037 sq ft and set to undergo a refurbishment, providing flexible leasehold accommodation from 1,150-6,781 sq ft.
• Mandale Triangle in Thornaby, Stockton-on-Tees: A 30,656 sq ft industrial building that is part vacant and part let to a Gym company.
• Kings Court in North Shields: Situated close to the town centre, this two-storey modern office building totals 78,577 sq ft, the majority of which is let as a courthouse to the Secretary of State, which has been in occupation for more than 20 years.
• Queensway Business Centre in Scunthorpe: Providing 20,820 sq ft of business and hybrid space on a 2.19-acre site, situated off the A18. Let to more than 20 tenants including non traditional office tenants such as medical practitioners and a photography studio.

The buildings were all sold for an undisclosed figure by auction or private treaty. Together provided the funding for each of the purchases.

Stephen Ashworth, chairman and CEO of Hurstwood Holdings, said: “So far this year we have acquired 15 new properties with a total investment value of over £35m. We are always on the lookout for unique opportunities to boost our portfolio from fully occupied buildings to ones where we can capitalise on our in-house team’s expertise and add value.

“Whilst we are a North West-based business, we are significantly increasing our presence nationally with properties in England, Scotland and Wales, spanning from Inverness to Ipswich. We have the experience and skills in-house to manage large commercial investments having grown organically over the last 30 years, which has helped shape the future of the business.”

He added: “Our focus is to buy property well and use our skills and efficiency of service to provide value and quality of space for our occupiers large and small and for all aspects of commercial uses.”

Hurstwood Holdings currently has a property portfolio comprising 150 sites nationwide housing more than 1,000 occupier clients.