Property round-up: New Ferry; Project 500; B8 Real Estate; Levels; Launchpad; Worldwide Recruitment Solutions
J Freeley has started the demolition of multiple buildings in New Ferry, Wirral, to make way for new affordable homes in the town.
The project kick-starts the second phase of plans to regenerate the area following a devastating explosion in 2017.
Appointed by Wirral Council under the Procure Partnerships Framework, J Freeley is scheduled to be on site for 14 weeks.
Asbestos will be safely removed prior to demolishing the buildings, including a former Co-op store and premises from 104 to 124 New Chester Road.
A commercial building in Grove Street has already been taken down, requiring the removal of a swimming pool and associated plant and equipment. All the properties have been vacant for several years.
Following demolition, J Freeley will install fencing to secure the sites for future development.
The contract is J Freeley’s second with Wirral Council and follows the successful demolition of Wallasey town hall’s north and south annexes.
Michael Freeley, Director at J Freeley, said: “We’re pleased to be working with Wirral Council again to help deliver another significant regeneration project. Demolishing these buildings, which have been frequently vandalised over the years, will clear two key development sites.”
He added: “The contract builds on our expertise of working within built up areas, requiring extra care to minimise disruption and to maximise safety. This will be particularly important when we demolish the former Co-op as occupied retail premises neighbour the site.
“Manual demolition methods will be implemented together with scaffolding and a crash deck to prevent debris from falling.”
Cllr Tony Jones, Chair of the Economy, Regeneration and Housing Committee for Wirral Council, said: “It’s great to see work progressing so well on the first phase of the New Ferry regeneration while at the same time preparations are being made for the second and last phase.
“The demolition of the vacant building on Grove Street will allow the council to create more parking spaces there, even as the rest of the work continues, while the removal of the row of empty shops facing New Chester Road will take away a real blight on the area, to be replaced by much needed new housing in the coming months.”
New Ferry was devastated by an explosion on March 25, 2017, which injured 81 people and forced many out of their homes and businesses.
A court heard in January 2019, that the “apocalyptic” explosion that injured 81 people and caused “utter devastation” was an insurance job that went badly wrong.
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CGI of MSV Cheetham Hill site
The final developments in the first phase of an innovative programme, Project 500, to increase the number of affordable homes using Manchester City Council-owned land are working through the planning process.
The last planning application of this phase has been submitted by One Manchester for a site in Moston, while Mosscare St Vincent’s (MSV) has now received planning approval for a site in Cheetham Hill.
Mosscare St Vincents has now received planning approval for 70 new homes – including 26 apartments – on Alderford Parade and Dinnington Avenue in north Manchester.
Every property in this development will be available at social rent – the cheapest level of rent available – and will offer a range of one- and two-bedroom apartments, alongside two-, three- and four-bedroom houses.
The homes will be built to low carbon standards with each of the properties achieving an EPC A rating – and each of the homes will have an electric vehicle charging point.
All of the homes have Secure By Design accreditation and the ground floor apartments will be available to people who require an accessible property.
There are also dedicated parking bays for each of the properties, along with private gardens.
MSV is also on site with two further Project 500 developments in Harpurhey (Parkmount Road and Jonas Street), which will deliver a further 46 affordable homes – 12 for social rent, 16 at the Manchester Living Rent, and 18 homes available for Rent to Buy.
The proposed scheme by One Manchester off Moston Lane in north Manchester would deliver 29 Manchester Living Rent homes and represents the last tranche of 357 homes for initial Project 500 programme sites, if approved through the planning process.
The scheme will develop a mix of 18 one-bed cottage flats across three separate buildings, along with seven, two-bedroom houses and four, four-bedroom houses.
Each of the houses will have private gardens and the flats will share a landscaped rear garden. And each property will have access to a private car parking space.
One Manchester also has two other Project 500 sites currently in development.
A site on Blackwin Street in Gorton will deliver seven new homes – a range of two- to four-bedrooms properties – and a further site on Brigham Street in Openshaw will deliver 24 houses and flats, across a mix of two- to four-bed houses, and two-bedroom flats.
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Network Space, Broadheath
The North West industrial investment market experienced a moderate contraction in 2024, compared with the five-year average, with £1.030bn of transactions across 63 deals in total.
This is according to a new report by industrial and logistics property consultancy, B8 Real Estate.
Key investment market highlights show the North West saw £1.030bn of industrial transactions in 2024 across 63 deals, broadly in line with the five-year average (£1,075bn).
The North West industrial sector maintained its position as one of the most attractive property sectors in 2024, driven by robust rental growth and strong investor demand, despite some hesitancy due to interest rate uncertainty and the political environment.
The industrial open storage market emerged as a key sub-sector, and overseas investment dominated the institutional market. Despite challenges, investor demand strengthened, particularly for prime assets, leading to notable acquisitions such as Premier Park and Broadheath Network Centre. Traditional UK investors began returning cautiously, focusing on top-tier assets with strong ESG credentials.
Also, industrial property sector pricing in 2024 was heavily influenced by interest rates and the cost of debt, with slight decreases in rates not alleviating high swap rates.
In 2024, the North West industrial occupational market saw Big Box take up of 3.22 million sq ft – an 18% increase from 2023, though still some way short of the peak six million sq ft peak that was recorded in 2021/22.
Of the total square footage acquired in 2024, 2.32 million sq ft (72%) was either speculative new-build or Grade A – double the previous year’s figures.
Key occupational market highlights showed that the H1 2024 take-up of big box units (more than 90,000 sq ft) totalled 1.28 million sq ft across eight transactions, with expectations for improved take-up in H2 2024. Year-end take up figures are predicted to be broadly in line with pre-Covid years, 2019/2020 (circa 3-4 million sq ft).
Prime Big Box rents were between £9.50 and £10 per sq ft with a new record rent of £11.50 per sq. ft. achieved at year-end. Overall, quoting rents have increased to more than £11 per sq ft.
Multi-let Industrial (MLI) demand remains very strong, with new-build take up totalling 812,000 sq ft, marginally below the five-year average. A total of 70% of new-build MLI transactions were below 15,000 sq ft for another consecutive year. Plus, increased void on second-hand MLI assets has promoted rental or growth through refurbishment programmes.
Looking ahead, Big Box units comprising 2.68 million sq ft in total are currently under construction across 11 schemes, mostly outside the prime areas of Greater Manchester and central M6 corridor.
John Burrows, investment director at B8RE, said: “The North West industrial sector had a relatively stable 2024 and it possibly provided the turning point in the investment market, with many investors in H2 particularly, noticing a window to strike at relatively attractive pricing levels.
“Overall, the biggest challenge of 2024 was the lack of opportunities stifling activity, the availability of comparable pricing and the lack of any core deals.
“However, pricing improved gradually, particularly on prime assets, with continued strong overseas investor demand coupled with the gradual return of some UK institutions.”
He added: “ESG credentials remain paramount for institutional investors with strong BREEAM and EPC ratings key to generating future demand and premium pricing. These are becoming paramount to investment decisions.
“Looking ahead to 2025, despite a slight cloud following the October budget and the new US government, overall market sentiment appears positive. We expect more speculative funding and development activity once supply starts to diminish, and the occupational markets improve as we get into the meat of 2025.”
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Ian Irving with the BEC team
Cumbria’s first-of-a-kind digital and gaming hub has announced their partnership with key delivery partner VR Gateway.
The Carlisle-based business has been chosen as the primary delivery partner.
Social impact property developer, BEC, is transforming the old Whittles building in Whitehaven town centre into a three-story high-tech hub to upskill, educate, and inspire.
The space will include dedicated gaming and VR suites and access to recording studios, digital workshop areas, a café, and meeting rooms.
Levels is a £4.1m redevelopment programme, with £2.8m secured from Sellafield Ltd Social Impact Multiplied (SiX) scheme, £800,000 from BT, and £485,000 from BEC itself.
Michael Pemberton, BEC’s Chief Executive, said: “We have been working with VR Gateway since our initial public consultations in 2021, and they have consistently demonstrated their expertise and alignment regarding Levels.”
Ian Irving, Director at VR Gateway, saidL “We are incredibly excited about our involvement in Levels. This project is truly transformative for West Cumbria and one we are aligned with regarding vision and values.”
Levels is scheduled to open in autumn later this year.
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Former Launchpad resident, Deane, in his new home with dog Beau
Homeless veterans’ charity, Launchpad, is collaborating with Anchor Housing to provide veterans with a pathway to stability, comfort, and belonging as they embark on the next chapter of their lives.
In 2024, the partnership has supported 14 veterans to transition from supported accommodation from Launchpad’s Speke House to independent, permanent housing.
Speke House in Liverpool is one of three houses offering temporary housing and holistic support to vulnerable veterans, many of whom arrive at Launchpad after experiencing homelessness, addiction, mental health challenges, or family breakdowns.
Through tailored care and support, veterans regain stability and prepare to reintegrate into civilian life. But what happens when they’re ready to move on?
This is where Anchor Housing steps in, offering a seamless transition to ‘forever homes’ in one of their 1,700 locations across the UK.
Jim Riley, Launchpad’s Independent Living Coordinator at Speke House is working closely with Anchor Housing’s Operations Manager, Dawn Brown, and Community Partnership Manager, Rebecca Heede, who, together, have played a vital role in helping residents take this transformative step.
Sam Jackson, Manager of Launchpad’s Speke House, said: “We extend our heartfelt gratitude to Anchor for providing not just housing, but a true sense of home for our residents. Your dedication to creating safe, supportive, and welcoming communities makes a profound difference in their lives, and we deeply appreciate your partnership.”
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WRS team at the new office
Worldwide Recruitment Solutions, a global recruitment company which operates out of the centre of Altrincham, has invested £100,000 to move into the heart of the town, elevating its growth trajectory.
Relocating from Juniper Court, on Scott Drive, to 249 Church Street, which boasts a space of 3,450 sq ft, will enable WRS to enhance its staff productivity and wellbeing while supporting the business’s global expansion.
This move will enable the £57m turnover business, which operates internationally in the energy, maritime and construction market, to work towards its goals of turning over £100m in the near future.
Chief Executive, Mark Brown, said: “This relocation represents a significant investment in our company’s future, with an estimated value of over £100,000 for the move in renovations, new furniture, and improvements to the new facility. This investment will not only benefit our company, but also contribute to the local economy by creating new jobs and supporting local businesses.”
As well as the growth potential offered by 249, its comprehensively furnished office space will improve the working environment and experience for the WRS UK-based staff. It has excellent on-site facilities which will enhance employee wellbeing and productivity, such as a coffee shop, on-site state-of-the-art gym and shower facilities, co-working spaces, EV charging bays and secure indoor cycle storage.
Mark added: “The excellent amenities are part of the reason we selected 249.”
