Property briefs: Handelsbanken opens in Wilmslow; Landmark buys Ashton site

SWEDISH personal and corporate lender Handelsbanken has boosted its regional branch network after opening in Wilmslow.

The bank, which has more than a dozen offices across the region, from Carlisle in the North to Crewe in the south, has taken 2,141 sq ft at Orbit Development’s recently-completed site at 48 Alderley Road.

Anthony Flynn, branch manager at Wilmslow said: “Whilst Handelsbanken has been in Manchester for over 20 years, our new Wilmslow branch brings us much closer to our customers in east Cheshire.  48 Alderley Road is an impressive building and we are delighted with our new office.”

Paul McLeman, director of Orbit added: “We met with Handelsbanken in the Spring of 2013 and listened to their expansion requirements. We were able to offer them a viable property solution to enable them to locate to the building not only in the right location but with their individual requirements and specification as a leading corporate business.

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BOLTON-based Landmark Investments Group has bought a 3.5-acre site on Wharf Street, Ashton, Manchester.

It said it will use it “innovative new ground rent deal structure” which will enable the land to be redeveloped into a mixed-use scheme. 

Director Mark Hawthorn said: “We’ve been developing a new approach to the structure of ground rent deals for some time, particularly on land used commercially, and the site in Ashton is the first time we’ve implemented it at this scale. 

“I am very pleased with the smoothness of the transaction and it is clear to me our new deal will open up many more commercial sites for future development. It can also be used to release value from existing building stock.”

The deal has enabled Landmark to lease the site back to its original owners on a 150 year lease at a “low passing” rent. In turn, the leaseholder will vacate the site to free it up for future development.

Law firm TLT represented Landmark while Laytons advised the vendor.