We’ll keep spending, says Morley
PROPERTY developer Morley Estates has said it will “will continue to develop our portfolio” after acquiring £40m worth of assets over the past 12 months.
The Altrincham-based firm – an industrial property specialist led by Oliver Morley – has completed a number of big-ticket deals over the past year including the £12m purchase of Haydock Cross Industrial Estate, a £5.5m purchase of Warrington South Distribution Centre and a £4.25m former BP facility at Stanlow Works, but has said that it remains in the market for other potential purchases.
Property director Matt McConville said: “Given the recent economic difficulties many property businesses have taken to selling off assets rather than buying new ones.
“We have remained more active than most and we will continue to develop our portfolio as we recognise that there are good deals to be done for quality development assets.”
Founder Oliver Morley began his commercial property career in 1995. He said: “Our strategy is clear; to continue to identify developments across the North West which compliment our existing portfolio and to provide high quality commercial accommodation for our many tenants.
“Our property product is moulded around the tenant and this has always been our driver for building the business.”
Morley Estates was advised on the deals by Manchester law firm Kuits. It has also advised on a number of lettings within Morley’s portfolio to firms like Hermes Parcelnet, SIG Trading and R J Edwards & Sons.
