Property News: Ancoats free school; Loft Interiors; Eddisons, and more
DEVELOPMENT works have started at the New Islington Free School (NIFS) in Ancoats, Manchester.
A team is on site preparing groundworks for the building which is due to open in September.
The project is being led by Manchester Grammar School, in partnership with the Manchester developer Urban Splash, the Homes and Communities Agency and Manchester City Council.
Stuart Leeming, MGS’ deputy high master and chief executive of New Islington Free School academy trust, said: “After working so hard with our partner team on the delivery of this school I can’t tell you how wonderful it is to see the groundworks begin. This is a huge achievement for the group and I know that now parents and pupils will feel that at last their school is real.”
Places for the 2013 reception intake are already taken, but parents can still apply for places in years one to three.
::
LOFT Interiors, the Manchester-based property management furnishings specialist, says it is on course to hit turnover of more than £3.5m for the year to 30 March 2013, up 20% on last time.
It also expects to more than double profits thanks to its growing business of furnishing student accommodation. Clients include The Mansion Group, Opal, Liberty Living, Accrue Student Capital and Crosslane Asset Management.
The company said this part of the business generated revenues of £900,000 between July and September. During the year it provided 3,192 beds and over 1,800 sofas to student residences across the UK.
Founder Ben Hall said: “We’re delighted to be bucking the trend and celebrating our most profitable year yet, even during these tough economic times. Achieving growth for the second year on the run – the year ending 31 March 2012 saw us posting a 41% increase in turnover over the previous 12 months – is no mean feat in such a challenging climate.
“We’re constantly evolving our services to make sure they’re in line with what the sector needs in the face of a demanding market. Whilst our mainstream property management furnishings solution is still a mainstay of the business, countering the seasonal spikes we see in other parts of the business, the student market is increasingly important to us.”
::
EDDISONS says it has attracted 47 lots for its first North West property auction of the year.
They include Cartwright House and Cumberland House in Salford, which generate annual rental income of £30,576, and have a guide price of £100,000
Meanwhile, the former Beulah Methodist Church in Bacup is also going under the hammer. It has 11 self-contained apartments producing ann annual income of £35,700. The guide price is £375,000.
There is also a barn conversion opportunity at Bleara Moor near Barnoldswick, apartments on the Fylde coast, and a retail unit in Altrincham.
Andrew Brown of Eddisons said: “The catalogue contains a wide selection of both residential and commercial lots, at guide prices to suit all budgets.”
The sale takes place on February 26th at the Premier Inn, Trafford Park, Manchester, from 12.30pm.
::
SIMON Carves Engineering is letting an 11,000 sq ft suite at its Simon House building close to Manchester Airport.
The building is part of Atlas Business Park, a development by CTP and AXA Real Estate which was completed in 2004 and has four separate buildings totalling 225,000 sq ft.
Simon Carves, established in 1878, has designed and delivered facilities for a diverse range of sectors including chemicals, pharmaceuticals, polymers, nuclear, biofuels and energy.
Philip Meakin, partner of p3 property consultants which has been instructed to market the space, said: “This is a large floor plate, single level office suite – ready for immediate occupation. Simon House is well specified and the space is offered at a very affordable rent on flexible terms.”
