Property briefs: Contracts for Artez; Denton retail unit sold; and more
BOLTON construction company Artez has completed three projects in Lancashire and Yorkshire with a total contract value of more than £300,000.
The completed schemes include Brewery Wharf in Leeds, where Artez was appointed by property consultant Monro White Hilton to carry out alterations, refurbishment and fitting out of the commercial space on the second and third floor of the building.
The project, worth £130,000, was competed earlier this month and saw Artez carry out successful structural alterations and refurbishment. Artez has also completed a £100,000 contract in York where the team spent eight weeks on site with Sudlows to help build a new data centre infrastructure for client Bytemark. The team has also completed a £60,000 scheme to refurbish a 20,000 sq ft industrial unit on Lostock Lane in Bolton.
Mike Banton, founder and managing director of Artez said: “Our point of difference as a business is our understanding of the constraints of the industry and that’s why we have strived to bring each of these projects in on time and under budget. I’m delighted that the client feedback has been complementary of my team and look forward to moving onto our next schemes.”
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THE freehold of a shop in Denton town centre has been sold to a private pension fund for £780,000.
The newly completed building at 47 Stockport Road has four units totalling 5,500 sq ft as well as car parking.
Three of the units are let – to Vets 4 Pets, Barnardos and Subway – producing an income of £83,500 a annum representing a net initial yield of 8.25%.
Ben Fallows of commercial agent TFC, who acted for the vendor, said: “The development’s prominent position fronting Stockport Road at the entrance to Morrisons superstore attracted a lively interest from a number of investors and the sale was agreed quickly.
Steam Rock Capital represented the purchaser.
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YORKSHIRE construction firm GMI has been appointed to build and refurbish two warehouse and industrial units in the first phase of Burnley Bridge Business Park by Junction 9 of the M65.
Leeds-based GMI has been contracted to build Magnesium Court and refurbish The Cobalt Building. Magnesium Court is a 29,000 sq ft warehouse and industrial space, while the larger Cobalt Building is 64,100 sq ft.
James Chapman, managing director of Burnley Bridge developer Eshton, said: “This is a very important appointment and crucial to the success of Burnley Bridge. GMI Construction has an excellent reputation for being reliable, efficient and professional and for completing quality projects on time and within budget.
“Our business park is set to create up to 1,400 jobs for the region and it is appropriate that a first-class northern construction company should be working with us to kick start the project.”
Jarrod Best, group managing director for GMI Construction Group, said: “We are delighted to be involved in this exciting project with Eshton. The development of Burnley Bridge Business Park will bring excellent industrial/distribution services to the local area and beyond.”
