Property briefs: Towers Business Park; Eric Wright; Sutton Kersh

TOWERS Business Park in Didsbury has completed re-gears – lease reviews – with six tenants on 120,000 sq ft.

The landlord, a joint venture between Property Alliance Group (PAG) and the Moorfield Group, has also let 12,000 sq ft to IT group Oracle and an extra 3,400 sq ft to existing tenant Energize Recruitment.

The re-gears have been completed with Broadcom, Calyx, British Airways, John Lewis, SPX and AIC on 42% of the space at Towers. The park has has nine office buildings totalling 290,000 sq ft.

Hugh Canham of Moorfield said: “Since the acquisition we have undertaken a comprehensive refurbishment programme of works across the estate including extensive landscaping, the installation of new site signage and refurbishment of a number of reception areas.”
 
Dominic Pozzoni, Director at Property Alliance Group said: “We are delighted that we have been able to work with and accommodate so many of our occupiers. Towers is home to a strong business community with a collective of high profile tenants. We have been working closely with all our tenants to ensure that they enjoy an excellent environment with a work-life balance for their employees to benefit from, further adding value to their recruitment and retention of staff.”

CBRE and WHR are letting agents on Towers and GVA is the managing agent for the estate.

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PRESTON-based Eric Wright Construction, a division of the Eric Wright Group, has delivered the second phase of a project to create a combined secondary and primary school at St Mary’s Catholic College in Blackpool.

Demolition and refurbishment at the school has taken place, costing £22.8m, to allow for a new 1,220 place secondary school and sixth form.

The changes will give students new facilities including science and computer labs, 40 classrooms and a fitness suite. The work has been designed and commissioned by Rochdale-based Nightingale Associates.

The final phase of the project will involve moving Christ the King Primary School and Christ the King Parish Church onto the site, work which is expected to complete in summer 2014.

John Wilson, managing director of Eric Wright Construction said: “We are really proud to have successfully delivered the second phase of this project. The new facilities have added an updated, modern look to the buildings and we are sure that this redevelopment has helped to contribute to the future regeneration of Blackpool.”

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AUCTIONEER Sutton Kersh sold 72 of the 102 properties offered at is recent auction, generating proceeds of over £4.5m.

The Liverpool firm said buyers turned up in large numbers, attracted by a “wide choice of sensibly-priced stock”.

A vacant double-fronted detached property divided into two semi-detached houses close to Kensington Shopping Centre sold for £102,000 from a guide of £70,000.

Meanwhile, the former Citizen’s Advice Bureau on Church Street in Prescot sold for £132,500 off a guide of £80,000 plus, following competitive bidding. 

Auction manageress Cathy Holt said: “This was another excellent performance which builds on the success of previous auctions. There is also plenty of post sale activity so the final figure is likely to be even better.

“We saw a large cross section of buyers, including investors and owner occupiers. There were also a number of new faces, and people from out of the area, who clearly see Liverpool as an attractive place to invest.” 

Sutton Kersh has sold around 450 properties in the year to date generating proceeds of nearly £30m.