Property round-up: Work starts on Weavers’ Triangle college; Canmoor; English Cities Fund; Cushman & Wakefield; and more
WORK has begun on the new University Technical College being built at the Weavers’ Triangle development at Burnley.
Funding for the £9.5m college was granted last week, meaning that contractor and developer Barnfield Construction has begun transforming the Grade II-listed Victoria Mill building into the home of the first Iniversity Technical College in East Lancashire. It will open in August 2013 and be run by Visions Learning Trust.
The Government has given £9.5m towards the cost of the £10.1m college and its construction marks the first phase of the wider Weavers’ Triangle redevelopment in a joint venture between Barnfield and Burnley Council.
Burnley Council leader Julie Cooper said: “We are creating a new chapter for Burnley’s history books in this historic setting, by bringing back to life a Victorian mill to develop the workforce of the future.
“The University Technical College will undoubtedly be a catalyst for further development in the Weavers’ Triangle, and I’m excited about the future of this whole area.
“This is a project we have inherited from the previous administration – it is one we are 100% committed to and I want to acknowledge the work done by Councillor Briggs when he was Leader of the Council and the on-going support of Gordon Birtwistle MP. This is an example of how politicians of all political colours can work together to deliver what Burnley needs.”
Dan Gaunt, Project Manager for Weavers’ Triangle at Barnfield Construction said: “We have been preparing the site in recent weeks ready to officially start work once the funding agreement had been announced. Work will now start in earnest to repair, refurbish and extend the historic mill building.
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DEVELOPER Canmoor has won planning approval to build a new 170,000 sq ft warehouse at the Rainford Industrial Estate in St Helens.
The unit will be occupied by Dresser UK, which is relocating from Skelmersdale. It will employ around 215 members of staff including a number of new apprentices. Construction on site is already underway and the build is expected to be ready by the end of the year.
Canmoor was advised on gaining planning consent by the Manchester office of Gerald Eve.
Planning partner Harry Spawton said: “This scheme came with a number of planning challenges, so it is particularly satisfying to secure permission, especially so when the jobs the project will support are taken into account.”
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THE Carlyle Group has appointed Cushman & Wakefield as retail property agents at its Piccadilly Place development in Manchester.
Piccadilly Place is a 300,000 sq ft, mixed-use scheme containing offices, a hotel and apartments. The development, which was completed by Argent in 2009, also has 25,000 sq ft of retail units set around a privately-managed piazza at ground floor level. Starbucks operates from a 1,500 sq ft unit within the scheme.
Carlyle Group director Ben Du Boulay said: “The appointment of Cushman & Wakefield is a positive step forward as we seek to establish a compelling retail and leisure offer at Piccadilly Place.
“Our aim to secure a vibrant tenant mix at the development, to create the perfect atmosphere for people who live, work and spend their leisure time at Piccadilly Place.”
Matt Illingworth, partner at Cushman & Wakefield, commented: “This is a fantastic high-profile scheme for Cushman & Wakefield . We will work in partnership with The Carlyle Group and are optimistic about letting the remaining retail and leisure units.”
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THE Mersey Gateway has been included in a list of the world’s top 100 infrastructure projects devised by KPMG.
The 1km bridge over the River Mersey is a £700m PFI scheme for which three consortia have currently been shortlisted. Once complete, the scheme will relieve pressure on the nearby Silver Jubilee Bridge and reduce journey times in peak periods.
Cllr Rob Polhill, Leader of Halton Borough Council, said: “It is quite an accolade to have this project in the top 100 in the world, we always knew it would be special and iconic.
“But more than that, we know that the Mersey Gateway is needed.”
Steve Nicholson, Mersey Gateway Project Director, said: “Mersey Gateway’s inclusion on the list highlights its vital role in the region’s regeneration plans and in bringing about economic growth.”
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A TELECOMS mast and a former public convenience building are among the 110 properties being auctioned by Sutton Kersh in Liverpool next week.
The firm said that the auction also includes a number of high-yielding commercial buildings which it is acting as joint agent on alongside Mason Owen at the auction, which takes place at the Marriott Hotel on July 12.
The freehold of a substantial town centre retail investment at Barons Quay in Northwich will be offered as lot 39.
This includes units at 7, 9, 11-13 and 17-19 Leicester Street which is made up of three retail units with ancillary first floor accommodation and a vacant retail premises to the rear of Leicester Street on Weaver Way. The units currently generate a yield of £65,000 per annum and carry a guide price of £400,000 – £435,000 per annum.
A two-storey double fronted retail investment on Aughton Road in Ormskirk town centre will also be auctioned. The unit is located at 26 Aughton Street and is currently let to Shoefayre Limited for a rent of £49,500 per annum on a lease that is due to expire in 2018. It is guided to sell at £400,000+.
Sutton Kersh director James Kersh said: “This is the biggest catalogue to be offered in Merseyside for over four years.
“Many of the commercial units we are acting on with Mason Owen offer a guaranteed income and all carry very reasonable guide prices showing attractive returns on investment. There are also many cheap residential investments up for grabs.”
