Property briefs: Denizen, Elan, Heritage Lottery Fund and more…

WIGAN’S Denizen Contracts has secured a £27m deal to develop a new hotel for the Hilton group at The Ageas Bowl in Southampton, the home of Hampshire cricket.

The six-storey, 171-room hotel will be operated by Liverpool’s Sanguine Hospitality. Most of the funding has been provided by The Co-operative Bank.

The 18-month build should start within weeks.

Denizen chairman Paul Bolton said: “This has been a challenging planning and design process which leaves us looking forward to the successful delivery of an exceptional venue at this historic ground.

“Uniquely, the design allows for domestic and international cricket fans to watch a day’s play from one of 85 boxes, while guests on the other side of the hotel will enjoy stunning views across the Ageas Bowl County Golf Club. There will be nothing standard about this development.”

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ELAN Homes has sold the former David Mclean portfolio of residential ground rents for an undisclosed sum to a private pension investor. 

The 2,384 ground rents on houses and apartments across the UK generate an income of £400,000 per year.

Ellesmere Port-based Elan is run by former David Mclean directors who bought the business’s housebuilding arm when the group went into administration in 2008.

Ben Fallows of TFC acted for Elan said: “I have developed an expertise in selling and acquiring ground rents over the last ten years, which was when I sold the first portfolio for Redrow.

“There is a very strong market for ground rents at present and the Elan Homes portfolio is an excellent long term investment particularly given the current economic market.”

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THE Heritage Lottery Fund (HLF) has relocated its North West office to Piccadilly Basin in Manchester city centre.

It has taken 2,000 sq ft on the lower ground floor of Town Centre Securities’ Carver’s Warehouse on Dale Street.

The Grade II* listed building, dating back to 1806, has a full height glazed atrium-style entrance, secure 24 hour access and shower facilities.

Suzanne Gallagher, asset manager at Town Centre Securities, said: “Carver’s Warehouse seems a very fitting location for the Heritage Lottery Fund to be based. It’s great to have an organisation here who appreciates historic buildings. 

“This is high quality office space, minutes from both Piccadilly Station and the Northern Quarter. We’re extremely proud of the Carver’s Warehouse conversion which retains its original character. It’s a prominent building in this part of the Piccadilly Basin and we hope HLF will be very happy here.”

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A FIRM that claims to be Manchester’s oldest insolvency practice is relocating across the city, as part of a strategic growth and rebranding programme.

Poppleton and Appleby, established in 1885, is moving to new premises in Oxford Court, Oxford Road from a site on the High Street.

The firm said it would be closer to professional advisers, banks and specialist lenders

Lead by partners Stephen Wainwright, Stephen Lord and Allan Cadman, the firm has an 11-strong team, including seven fee-earners.

Commenting on the relocation, Stephen Wainwright  said: “We had been at our old offices in High Street in the Northern Quarter since 1979 and the area has changed enormously in recent years.

“The move will take us out of a predominantly retail district and place us at the centre of the professional and financial community, where we can operate more productively and efficiently.

“The new location is discreetly located in an attractive neo-Georgian courtyard and is much more in keeping with our new corporate identity. It will provide a solid platform for our future growth plans,” added Stephen Wainwright.

The firm intends to grow organically and may look at acquisition opportunities as it develops its service range and SME-focused customer base. It will continue to expand its turnaround and financial restructuring activities, while maintaining its formal insolvency practice.