PH Property spends £3.5m in Prestbury

KNUTSFORD-based luxury homes developer PH Properties has acquired two sites in Cheshire’s ‘”Golden Triangle” town of Prestbury for £3.5m.

The company, which is run by Phil Hughes, has bought a two acre plot on Heybridge Lane for £1.9m. He intends to apply for permission  to build two new luxury homes containing indoor leisure complexes, each set on an acre of land which he intends to sell for £3.5m each.

PH Property Holdings has also bought the Butley Hall in the town for £1.4m, which it intends to convert into townhouses and apartments, including two luxury penthouse apartments.

Work is not expected to start on site until the New Year and should be complete by the spring of 2012. The properties, which will sell for between £450-,000-£900,000, will be marketed at older residents looking to downsize.

James Heyworth, land director at PH Property Holdings Ltd, said: “These are exciting times for us.  Despite all the economic uncertainty, we continue to acquire plots with potential both for building one-off luxury properties and for creating exclusive apartments and townhouses.

“For us, it’s all about using our knowledge and experience to give homebuyers more choice. By offering a unique opportunity to downsize to one of these stunning apartments whilst staying in the heart of Prestbury, we continue our commitment to do just that.”