Property briefs: Pervaiz Naviede Trust buys again; Soyang deal; Roger Hannah; and more
PROPERTY investor, the Pervaiz Naviede Family Trust, has added to its residential portfolio with the £3.2m acquisition of 45 properties in Hull.
The purchase from Hull developer Francis Daly is part of a £10m push into new areas of the North.
The deal includes apartments in three developments – Pier 9, a Grade II-listed former ticket office on Nelson Street; Carmichael House, two adjoining Victorian properties on Sunny Bank; and three detached properties on Salisbury Street including a Grade II-listed house. All are fully let.
Rudi Falla, spokesman for the Pervaiz Naviede Family Trust, said: “We have identified a number of high quality schemes in good locations which are popular with young professionals looking for medium to long-term tenancies. This portfolio makes for an attractive investment and, in the longer term, we have the expertise to upgrade these properties and add value to maintain those high yields.
“We have ambitious plans for this part of the business and will expand by more than 150 properties in the next quarter, taking our total portfolio to 800 units.”
The trust owns a number of companies including Salford property developer LPC Living. Property agent Zameero and the Manchester office of law firm Gateley acted on behalf of the trust.
::
OAKFIELD House, an eight-bedroom guest house in Bowness-on-Windermere, has been sold for £795,000, close to the asking price.
A couple from Surrey have bought the property from Michael Kilpatrick and Michael Rapson who are retiring from the trade to live in the Peak District.
The sale was handled by the hotels agency team at the Manchester office of Colliers International.
Associate director Haydn Spedding said: “The top-to-toe refurbishment of the property makes it one of the best examples of guest house accommodation in Bowness and its hinterland and one that has traded very strongly with outstanding profits.”
::
SOYANG Europe, which supplies printable materials, has spent £1.75m on a new headquarters building in Accrington.
The business, a division of Chinese group Soyang Technologies, has bought the 68,000 sq ft Calder House on Altham Industrial Estate from Accrington textiles group James Dewhurst.
The new building will cater for showrooms, meeting rooms and offices along with a warehouse and additional container docking bays. It is moving from Peel Industrial Estate in Bury and hopes to add a further 10 staff at the new site, taking the total to 23.
Soyang was advised by Bury law firm Woodcocks Haworth and Nuttall led by partner, Gary Jones. The property agents were Taylor Weaver.
::
ROGER Hannah sold properties worth around £2.5m at its last auction in Manchester, 83% of the stock.
The sale included a portfolio of tenanted industrial properties in Stockport for a combined £465,000 and two retail investments let to Rank Leisure which sold for £330,000.
Director Stuart Cooper said: “There was a real buzz of activity at the auction room which was borne out by our record success rate in Manchester. This bodes well for future sales and shows a continuing upward trend in the commercial property market.”
The next auction is on April 30.
