Property round-up: Sliders completes buy-and-lease deal, Grapes gets a Thai twist; and more
A PRESTON-based double glazing unit manufacturer has completed a lease deal for 40,000 sq ft of factory space at Walton Summit in Bamber Bridge.
Sliders (UK), said the 10-year deal means it can confidently plan for expansion, while securing a number of jobs at the site.
The company, which makes patio doors, bi-folding door and vertical sliding sash windows, is forecasting sales growth of 15% this year, which should take its turnover past £7m. It has completed a deal with Equity Growth Partners, which bought the site on behalf of an overseas client and then agreed a rental deal with Sliders (UK).
Sliders joint managing director, Ian Longbottom, said: “From small beginnings 10 years ago we have grown exponentially and are now a national leader in the manufacture of Ultimate Security patio doors, bi-folding doors and vertical sliding windows.
“We relocated to Walton Summit in 2008, where we have created over 50 jobs, with more to come. This year we have invested heavily in diversification with the formation of our new composite door division, and we had to consider whether our factory had the capacity we need going forward.”
The sale-and-leaseback deal was concluded with Equity Growth Partners, and Sliders (UK) was advised on the deal by Iain Hall of Garricks Solicitors and Sarah Butler of Butler Accountants.
Longbottom said: “Equity Growth Partners and our local commercial team have engineered a package which means we can now confidently plan for building the extra capacity we need, right here at Walton Summit, which is great news for the local economy and for job prospects.”
Joint MD Mike Spain said that the company had recently been ranked as 19th on a list of the 20 fastest-growing companies in the sector by business information services provider Plimsoll.
“We aim to get to No1,” he added.
The firm was advised on the deal by Iain Hall of Garricks Solicitors and Sarah Butler of Butler Accountants.
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THE former Grapes Public House at Regent Road in Altrincham town centre has been converted into a new Thai restaurant, Phanthong.
The building contains 1,900 sq ft ground floor and restaurant space as well as a 900 sq ft cellar. There is also living accommodation on site with three bedrooms.
The restaurant’s Northwich-based proprietor Phannaporn Whyte has taken a five-year lease on the building at an annual rent of £35,000.
She said: “We chose Altrincham on the strength of the massive impending investments which we believe signals a new start for the town and is certainly proving to be the case since our recent opening.”
Daniel Lee of Regional Property Solutions, which acted on behalf of the landlord, said; “This letting reflects a positive upturn in central Altrincham. The restaurant is ideally located opposite the new hospital site and close to the recently-opened Travelodge”.
Joint letting agents were Regional Property Solutions and Esselle Estates. The tenant was advised by solicitors Land Law LLP.
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A WAREHOUSE building in Bamber Bridge, Preston has been sold by property consultants Sanderson Weatherall for £580,000.
The property had been occupied by Whittle Movers until it was placed into administration in March this year. The company, which specialist in removals and warehousing, was placed into administration when cashflow issues were exacerbated by a significant reduction in orders from a key client.
The purchase of the warehouse by Jim Morris of Whittle (Group) Ltd helps to secure employment within the local area.
Joint administrators Paul Flint and Brian Green of KPMG instructed the Manchester office of Sanderson Weatherall to sell the former warehouse and offices at units 3 and 4, Charnley Fold Lane, Bamber Bridge, nr Preston.
Sanderson Weatherall also assisted with the disposal of others assets of Whittle Movers Limited, including a fleet of 64 removals vehicles and 75 trailers.
Rory Dillon, surveyor, corporate services at the Manchester office of Sanderson Weatherall, said: “We are pleased Whittle (Group) Ltd is continuing to trade from the site, securing further employment within the local area. The warehouse will enable the business to continue its core distribution business and the provision of additional storage facilities.”
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EDDISONS has been appointed as rating agent to Cohens Chemist – the Bolton-based chain of pharmacies owned by Yakub and Anwar Patel.
Eddisons will provide ratings advice for the firm’s property portfolio, which consists of around 150 pharmacy branches both in high street locations and attached to healthcare centres. It also includes a number of offices and warehouse facilities.
John Hayward, head of rating at Eddisons, said: “With an established specialist team already advising healthcare providers, we look forward to using this unrivalled knowledge to deliver significant savings for Cohens.
“Since the new Rating List took effect in April 2010, clients are looking to us to reduce their business rates liability, particularly in the current economic climate where all costs are being scrutinised.”
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PROPERTY consultancy Nolan Redshaw has been appointed as joint agent on the new Townside development in Bury.
The office development was completed in 2010 and tenants already on site include Bury Council, Bury Primary Care Trust and Six Town Housing.
Nolan Redshaw has been instructed to let a self-contained, ground floor office suite containing around 6,500 sq ft of space, although a sub-let of some of the space will also be considered.
Surveyor Neil Higson said: “We are delighted that Standard Life has appointed
Nolan Redshaw as joint agents on the scheme. With excellent transport links and the specification of these offices, we anticipate high levels of interest from businesses looking for good quality office accommodation.”
Nolan Redshaw is joint agent with GVA on the scheme.
