Property round-up: CBRE appointed to Towers business park; and more
THE joint venture partnership between Moorfield Group and Property Alliance Group has appointed CBRE alongside WHR as joint agent on its recently-acquired Towers office scheme in Didsbury, south Manchester.
Moorfield Group bought the 290,000 sq ft office park in November for £47m on behalf of the Moorfield Real Estate Fund II (MREF II). The opportunity was identified through Moorfield’s joint venture with Tafford-based based Property Alliance Group, which also acts as Moorfield’s property management partner on investments.
In addition to CBRE’s appointment, GVA has been chosen as management surveyors and DWF has been appointed as legal advisor to the scheme.
Towers comprises nine buildings set in 19 acres of parkland in Didsbury Village, next to the new Metrolink station due for completion in 2013. Occupiers include British Airways, Cisco Systems, Logica, SPX, Vodafone and John Lewis.
John Ogden, managing director of CBRE Manchester, said: “Towers is a leading regional, urban business environment and we are delighted to have been appointed to work alongside WHR on this instruction.
“The Moorfield/Alliance JV will bring a fresh approach and ideas to the scheme, enabling it to fulfill its potential as the leading regional office destination.”
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WR BERKLEY Insurance, the US-based insurance underwriting firm, is to open an office in Manchester after taking space at Orbit Developments’ 55 King St building.
The company has taken the remaining 1,800 sq ft of office space on the third floor of the building following the letting of 8,997 sq ft to architects Fairhurst Design Group last year.
Orbit said that the Grade A building was now almost fully-let, aside from the 6th floor which is currently undergoing a major refurbishment. It is expected to complete next month and have a range of suite sizes form 187 sq ft up to 3,272 sq ft.
James Raspin, surveyor at Orbit Developments, said: “We are delighted to welcome W.R. Berkley Insurance (Europe) Ltd to 55 King Street. 
“This letting is a significant addition to the list of high profile occupiers we already have and highlights the demand for good quality office space in Manchester’s business core”.
Claire Johnson, senior surveyor of Jones Lang LaSalle, who acted on behalf of WR Berkley Insurance (Europe), said: “My client is delighted to relocate to high quality offices within the heart of the prime core. Being in close proximity to the insurance market was key to this search.”
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THE Manchester office of Christie Finance has allowed a couple to buy back a 16th Century Welsh manor house which operates as a hotel.
Ynyshir Hall has been bought back by Mr & Mrs Reen, who had owned the business prior to a sale to Von Essen Hotels, which was subsequently placed into administration last year.
The property at Eglwys Fach in Powys, is set in 14 acres of gardens and woodland and had previously been used as a shooting and hunting lodge. It was once owned by Queen Victoria.
Kelly Catterall, financial consultant at Christie Finance, said: “Our clients had extensive knowledge of the hotel, since they previously owned and operated the business.
“Despite the challenging lending environment, we were delighted to be able to secure the necessary funds to assist Mr and Mrs Reen to acquire the business and we wish them well for future.”
Oliver Snowden, who handled the sale in the Manchester Office of Christie + Co, said: “Ynyshir Hall is one of the most historic properties in the von Essen Hotels portfolio, as well as one of the most ideally located. We are delighted to have sold the hotel to someone who understands its history and reputation.”
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HURSTWOOD has let a 5,400 5,400 sq ft office suite at its Ribble House building in Bamber Bridge, Lancashire, to automotive firm Faurecia Emission Control Technologies.
The company has agreed a deal on unit 1b at the property, leaving only the 8,900 sq ft suite 3 remaining.
Faurecia Emission Control Technologies is part of French-owned automotive parts manufacturer Faurecia. Its products are fitted to around one in five cars across the world.
Ribble House is located within walking distance of Bamber Bridge town centre and is a short drive from Preston city centre and the M6 motorway.
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ROCHDALE-based Taylor Engineering and Plastics (TEP) is set to open a new factory unit to support demand for its painted plastic components.
The 12,500 sq ft building will open this month and is a replacement for a unit which was destroyed by fire in April 2011.
The completion of the £600,000, five-month build, by Trafford-based Russells Construction, allows the company to reinstate full capacity at its Kingsway site, with the installation of a state-of-the-art automated paint spraying facility.
TEP staff who were relocated to four of the company’s other manufacturing outlets in Rochdale following the fire will also return to the unit.
Scott Taylor, manufacturing director, said: “It is hugely satisfying to see the new facility complete, marking an important step in putting the impact of the fire behind us.
“It was vital that the build was finished as quickly as possible so we could return our focus to the ongoing development of the company, and we’re very pleased with the efforts of Russells to complete the scheme within an aggressive time frame.”
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FOUR new deals have been secured which has led to around 80,000 sq ft of space being taken up at Oakhill Trading Estate, Walkden.
The new occupeiers include decking specialist AB Sundecks, nursery bedding and baby furniture manufacturer, Lollipop Lane, powder coatings company Architectural Coatings and SD Retail Consulting. Between them, they have taken units ranging in size from 5,000-25,000 sq ft.
Oakhill trading estate is next to the M61 and isw close to the interchange with the M60.
Joint letting agents for the scheme are CBRE and GVA.
Steve Capper, senior surveyor at CBRE, said: “In spite of the challenging economic conditions we have managed to secure a number of occupiers operating within various industry sectors.”
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AVID Property Consultants has been appointed to oversee the development of a new £15m distribution warehouse scheme for the Co-operative;s retail arm at South Normanton, Derbyshire.
The firm has been selected to monitor the 477,263 sq. ft Castlewood Business Park project by Standard Life Investments, which is forward-funding the project.
The facility is being delivered by developer Clowes Developments and contractor Winvic.
Work started on the new warehouse property in December and is due to be complete in October 2012.
The development monitoring team at Avid will be responsible for technical assessment and overseeing the construction progress over the 10-month term of the project.
Jeremy Powell, partner at Avid Property Consultants, said: “We are delighted to be appointed on the Castlewood Business Park scheme as it represents our longstanding relationship with Standard Life Investments.
“As development monitor, our role will be to ensure the standard of delivery meets that which is expected by our client in order to maximise their investment.
“Standard Life Investments’ forward-funding of this scheme is a further demonstration of the way investment funds are filling the gap left by the banks.”
Castlewood Business Park is a 112-acre master planned development, acquired from Wilson Bowden, which is fully serviced and capable of providing over 2 million sq ft of logistics facilities. It is next to Junction 28 of the M1.
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THE chairman of Preston-based architecture, building surveying and town planning practice Cassidy and Ashton has been accredited as a specialist conservation architect by the Royal Institute of British Architects (RIBA).
Michael Hartley has been listed on RIBA’s conservation register in recognition of work carried out on Grade I and II listed buildings and scheduled monuments. He joins five other North West architects on the register.
His work has included external repairs to Salford Cathedral, the conversion of Preston’s Royal Infirmary into housing and the refurbishment of the Grade I-listed St Peter’s Church at Stonyhurst College.
“I am delighted to now be included on RIBA’s specialist conservation register,” said Hartley, who is also an adviser to the Historic Churches Committee.
“As well as enhancing the practice’s reputation, this accreditation also means that Cassidy and Ashton will be able to take on more expert conservation work in-house.”
