Property round-up: Urban Splash; Stockport Interchange; Re:Volve Real Estate; Oldham Council; Altered Space; McGoff Group
Manchester-based regeneration company, Urban Splash, completed deals on 15,000 sq ft of space in the final quarter of 2023, with lettings predominantly across its North West portfolio.
A host of deals were completed in Liverpool, with transactions on more than 6,100 sq ft of space, including an expansion deal with incumbent tenant The Climbing Hangar. The hugely popular indoor climbing facility opened at Urban Splash’s Matchworks in 2021 and has now taken more space to offer more features to local people, including a fully equipped gym.
Lee Barr, General Manager of The Climbing Hangar Liverpool South, said: “Urban Splash is a flexible and supportive landlord – their unique ethos ensured our expansion plans could progress without any issues with regards to additional space. We’ve worked hard on our growth and are thrilled we can offer even more services to our loyal customers in and around the local community.”
In Manchester, deals were completed on 2,024 sq ft of space at Beehive Mill – the former home to the famous Sankeys nightclub. The building, which stands at the heart of Ancoats, now offers workspaces and a ground floor café and among the new tenants are Apex Recruitment, Jodie Salmon Limited and Phantom Developments.
At the Boat Shed in Salford Quays, a building that recently benefited from an Urban Splash refresh and the creation of a new riverside communal area on the ground floor, the company completed deals on 2,376 sq ft of space.
Urban Splash’s Emma Gardiner said: “Customers are attracted to our well-designed spaces and flexible offering, allowing them to opt for terms that best suit their business in the context of the macroeconomic landscape. Such flexibility helps us establish a rapport with our occupiers – the commitment of longstanding friends like The Climbing Hangar is a testament to that.”
Urban Splash also completed a host of deals in the South West, where more than 2,500 sq ft of lettings were agreed to businesses looking to make the popular waterfront destination their home.
Urban Splash has, for more than a decade, transformed the former victualling yard, at Royal William Yard, Plymouth, creating hundreds of homes, restaurants, bars, galleries, outdoor spaces and welcomed an Everyman Cinema which opened in 2023.
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Stockport’s new state-of-the-art Interchange is continuing to take shape ahead of its opening this spring.
A striking timelapse video shows how the new multimillion-pound development – which features 18 bus stands with the capacity for 164 departures an hour, a new two-acre town centre park and 196 high quality apartments – has come together since construction began in autumn 2022.
A new pedestrian and cycle route will link to the town’s rail station and the spiral ramp will link the new park to the Mersey frontage, Trans Pennine Trail and onward to the town centre, helping people to easily get around.
The park will be a unique green space that residents from all over the borough can enjoy. It will feature play equipment, festoon lighting, and an events pavilion that will help to connect Stockport’s neighbourhoods and communities.
Plans are currently in place to host an opening celebration event as part of Stockport’s Town of Culture events programme.
Cllr Mark Hunter, leader of Stockport Council, said: “It’s great to see the progress that has been made in transforming the bus station into a modern state-of-the-art transport interchange. It won’t be long before residents and visitors can make use of the new facilities, walkways and cycling routes, and the unique rooftop park overlooking the town centre.”
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Gordon House
Re:Volve Real Estate has been appointed by the Gordon House (Guernsey) Trustees to manage the lease on a 30,000 sq ft office space near Preston, after the previous tenant entered into administration.
Previously leased under the same firm for eight years, Re:Volve will breathe new life into the Bamber Bridge HQ office space with improvements to air conditioning and office space. Ten-year terms were agreed with no void period for the landlord.
Re:Volve is now letting the property to national legal firm, Forbes Solicitors, which has existing offices across the country, including in Manchester and London.
The substantial property, set in Sceptre Way business park, features open-plan office accommodation with accessible commuter links to M6.
This win follows Re:Volve Real Estate’s impressive launch, which has seen it reach a turnover of £1.2m in just seven months.
Its current portfolio consists of 30 clients with a rent roll of £10.5m per annum.
A spokesperson for Gordon House said: “Following the news of our previous leaseholder entering administration we needed a property management firm which was able to act quickly to ensure smooth transition with no loss of profit.
“Re:Volve not only ensured a smooth transition but also leveraged their extensive network of contacts to secure a tenant promptly and without a single hiccup.”
Anna Main, Managing Director at Re:Volve Real Estate, said: “Securing the largest office space in the local area is a significant achievement for us and marks our dynamic growth plans and expanding footprint in the North West. As experts in our field we were confident in achieving a prompt and successful leasing, with high profile clients such as Forbes.”
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Cllr Arooj Shah, foreground
Oldham Council has pledged to get 500 new social homes built in the borough over the next five years.
The announcement was made at the council’s inaugural Housing Roundtable, which took place at Oldham Civic Centre on February 1, and was led by ;eader of the council, Cllr Arooj Shah.
Senior representatives from all of of Oldham’s major social housing providers were at the event, along with private landlords, letting agents, developers and housebuilders, charities and more. Together with the council, they discussed Oldham’s housing crisis and how partners can work together to tackle it.
Cllr Shah, who is also Cabinet Member for Reform and Regeneration, said: “Nationally, there’s been a growing issue with housing for years and now places like Oldham are bearing the brunt of it. Thousands of social homes have been sold under right to buy with no government policies in place to replace them. Wages haven’t kept up with house prices or private rents and the cost of living crisis has piled even more pressure on.
“I hear from local people every day whose lives are being ruined by this broken housing system. For me, a home is a place where memories are created, where children and parents are safe and where there is love. But for far too many families in Oldham, this is not the reality. And we know from our own work in communities that the dire situation is getting worse.”
He said there are more than 7,500 families on the council housing register and thousands of applications waiting to be processed. There are in excess of 500 families in temporary accommodation, and among them are 500 children: “This is why we have to do everything in our power to respond locally to this national crisis.”
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Developer Altered Space has delivered state-of-the-art Kids Planet nursery on behalf of AlphaReal. The addition comes as part of a broader regeneration project in Stanley Square, Sale, where Altered Space also serves as the asset manager.
With more than 170 locations throughout the UK, the new 6,000 sq ft. Kids Planet nursery facility boasts numerous features, tailored to foster a nurturing environment for young learners. The development comprises a 21-space car park and landscaped gardens as well as housing a sensory room designed to stimulate learning and development. The addition of 109 nursery places is expected to generate 20 to 30 jobs, providing a boost to the local economy.
Altered Space director, Mark Rebbeck, said: “Our approach to Stanley Square has always been to curate a diverse mix of amenities, providing the local community with a thriving and highly accessible town centre. Collaborating with AlphaReal to incorporate Kids Planet allowed us to faster execute this project, resulting in the creation of employment opportunities and attracting more individuals to work in the area.”
James Murray, co head Social Infrastructure for AlphaReal, who funded the project, said: “The successful completion of the nursery is great news for the local area, and ensures that residents will have access to high quality nursery services for many years to come.
“Altered Space’s work to regenerate Sale town centre is commendable. The creation of 109 new nursery places will support parents to return to work or increase hours, further stimulating the regional economy. The Fund continues to align itself with the social real estate sector within the North West and seeks to make a positive social impact whilst achieving appropriate risk adjusted returns’.’
The transformation of Sale’s town centre was last year recognised as a significant factor contributing to Sale’s naming as one of The Sunday Times Best Places to Live in 2023. Elsewhere in the North West, Altered Space has begun its regeneration of Cockhedge, Warrington. Like Stanley Square, the redevelopment also aims to have a positive impact on the town and local economic growth.
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Plans for Herne Bay
Altrincham-based McGoff Group has acquired land in Kent for a mixed-use development, comprising a 67-bed care facility and 49 bungalows.
The four acre site is located directly off Canterbury Road in Herne Bay, which was formerly a derelict site with old and damaged out buildings, often subject to vandalism.
With a combined build contract of circa £21m, the McGoff Group will now transform the land into a stunning development, retaining part of the existing structure and restoring the façade, bringing an historic part of Herne Bay back to life. This will be combined with the new build, creating a carefully considered, aesthetically attractive scheme.
The bungalows, aimed at the over-55s, will be sold to private buyers and will be overseen by Downtown Asset Management, the Group’s property management arm of the business.
The care home will be the first in the South for New Care, also part of the McGoff Group, and will provide residential, dementia and 24hr nursing care in a luxurious environment.
The build programme will take approximately two years, with several hundred employed over the course of construction. Approximately 100 jobs will also be created by the care home once open and fully operational.
Chris McGoff, director at the McGoff Group, said: “We are thrilled to have acquired this land, bringing the group’s exceptional development design to Kent. We are renowned for our residential schemes, all of which deliver luxury homes with additional elements in areas where people want to live, which is exactly what we have planned for Herne Bay.
“Furthermore, the care home will be the first in the South for New Care, who already have 15 well established and highly regarded care facilities across the North West, Midlands and Yorkshire.”
Work on site is due to start imminently, with the McGoff Group also planning a second phase of the development, which will include 72 apartments, in the near future.
