Property briefs: 9 Portland St for sale; Bruntwood covers relocation costs…
A Grade II-listed building in Manchester’s Portland Street has been put on the market for £4m.
DTZ has been appointed by the Law of Property Act Receivers to sell the 53,000 sq ft block which was owned by Aneel Mussarat’s Rusholme-based MCR Property.
MCR, which paid £5m, lost control of the building in 2011 when secured lender Lloyds Banking Group appointed Jones Lang LaSalle as LPA Receiver.
It had been occupied by Greater Manchester’s Passenger Transport Executive (now Transport for Greater Manchester), but MCR acquired it with a view to redeveloping it once GMPTE departed to Argent’s Piccadilly Place scheme.
DTZ director Rob Yates said: “9 Portland Street is one of Manchester’s most significant office buildings. The quality of the refurbishment and its high profile within the heart of Piccadilly, should appeal to a number of occupiers who are finding the supply of quality accommodation in Manchester city centre limited due to the lack of new development.
“There is considerable interest from investors in the acquisition of Grade B offices in the Manchester City Centre as an alternative to investing in London at current prices. We are therefore confident that this building will attract strong interest.”
CONSTRUCTION group Seddon Developments has bought a 3.6-acre development plot in south Manchester from Shropshire developer Bovale.
The site, at junction two of the M56 at the entrance to the Sharston Industrial Estate on Altrincham Road, has been rebranded Checkpoint.
Bolton-based Seddon plans to bring forward buildings for industrial, logistics, office or showroom occupiers.
Jones Lang LaSalle and CBRE have been retained as joint agents to market the site.
Dan Burn, director at Jones Lang LaSalle, said: “Checkpoint is a prime site in a strategic location which makes it attractive for a wide variety of end-uses. Opportunities to acquire plots of this calibre don’t come up very often and it’s well-suited to capitalise on the North West’s growing market for built to suit requirements.
“With a lack of quality existing stock in the region, occupiers are increasingly realising that bespoke development is the way to go. As a result we’re already starting to see a rise in strategic land buying from developers and institutions.”
ERIC Wright Construction has started work on three contracts for health projects in Lancashire worth £14.8m.
It includes a £7.4m project to build a hospital adjacent to the old Clitheroe Hospital and two projects to develop new health centres and pharmacies at Colne and Great Harwood, totalling £4.3m and £3.1m respectively.
The three contracts were awarded by the local NHS company, East Lancashire Building Partnership. The Colne and Great Harwood projects should be finished by the end of the year, while Clitheroe Hospital is due for completion in the first quarter of 2014.
John Wilson, managing director of Preston-based Eric Wright Construction, said: “Eric Wright Construction has a strong reputation within the North West’s health sector market of delivering a broad spectrum of contracts, from small refurbishments, such as Blackburn Birthing Centre, to major projects such as Bolton One, which is a £30.6m health, leisure and research complex.”
LANDLORD Bruntwood is offering to cover removal costs to entice more businesses to its buildings in Liverpool.
The Manchester-based group is offering the incentive to any business that relocates to one of its nine properties in the city which include the Cotton Exchange, The Plaza and Oriel Chambers.
Director of property marketing Colin Sinclair said: “Bruntwood prides itself on finding innovative ways to help businesses to satisfy their growth needs. We understand that the cost and hassle of relocation is a major disincentive for many business owners when they’re considering whether to look for new accommodation.
“Hopefully, this latest offer will give local businesses the extra confidence they need to make the move and our advice would be to let us know in advance if they have a break or expiry date looming, as we can invariably help to save them money and identify more appropriate office space that positions them for growth.”