Property briefs: Universal Square; Genr8; Sutton Kersh; B8 Real Estate; Equity Growth Partners
NORTHERN Way Property has secured a string of lettings at Universal Square totalling around 10,000 sq ft.
Deals with new tenants at the scheme include eight lettings for a combined 5,534 sq ft. Recruitment consultancy P3 Search & Selection, telecoms business Broadsword Network, and healthcare supplier Broome & Wellington are among those taking space.
Two businesses have expanded within the development: Springbok, the online estate agency, has signed a new lease for 4,000 sq ft, expanding from a 2,400 sq ft suite; and photography business Grey Box Studio has added 652 sq ft to its existing lease of 1,308 sq ft. The development in Ardwick covers five buildings and has floorplates of up to 16,450 sq ft.
Chris Mulcahy, office agency director at JLL, said: “Demand for functional accommodation in the city centre and outlying areas continues to grow. The space at Universal Square is proving popular with both new occupiers and existing tenants looking to expand given the site’s well-maintained accommodation, amenities and location.”
JLL and Canning O’Neill are joint agents on the scheme.
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GENR8 Developments has appointed Taylor Wimpey to deliver the residential element of its 30-acre mixed-use Sowerby Bridge development in West Yorkshire.
Outline planning permission was granted in 2011 and Genr8 and Taylor Wimpey have now submitted a reserved matters application for 149 homes on a nine-acre brownfield site in the Copley Valley, bounded by the River Calder and the Calder and Hebble Navigation Canal.
The proposals consists of two, three and four- bed houses and 28 apartments.
The Manchester developer has also appointed Buckingham Group Contracting to undertake the next phase of infrastructure works which are expected to start on site early next year. It is anticipated that the residential scheme will start in late 2015.
Genr8 said it will also be delivering an 8.6-acre nature reserve and a further phase of employment space which will be announced in the coming months.
Partner Richard Ingham said: “We have always believed that the site offers a great opportunity to deliver high quality family housing within a fantastic environment and our appointment of Taylor Wimpey is excellent news. We are now looking forward to delivering the next phase of infrastructure which will prepare the site for both the residential and employment development.”
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SUTTON Kersh generated proceeds of over £4.7m at its latest Merseyside property auction.
Around 70% of lots were sold taking total proceeds so far this year to £27m.
Among the highlights of the September auction at the Liverpool Marriott Hotel was a three-bed double fronted semi in Sefton Park which sold for £173,000, off a guide of £150,000 plus.
Meanwhile a vacant three-storey semi in the Fairfield area of Liverpool, converted to provide six flats sold for £165,000. The guide price was £150,000 plus.
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DARESBURY-based commercial agent B8 Real Estate has sold an industrial unit in Telford for £6.1m.
It was acting for property investor Barlows which has disposed of the 130,000 sq ft unit to Karlin Real Estate.
The distribution unit is let to Simmonds Transport, whilst the office accommodation is occupied by Capgemini UK.
B8’s Simon Wood said: “International House represented a good opportunity to acquire a well specified mixed-use investment with medium term asset management opportunities. We believe the sale further demonstrates increasing investor confidence in the regions.”
Karlin Real Estate was represented by Franck-Steier Price.
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WILMSLOW-based investment firm Equity Growth Partners has sold two adjoining Grade A office buildings totaling 40,000 sq ft in Bristol for £6.54n to Hawkeye Properties reflecting a net initial yield of 9%.
Equity Growth Partners acquired the buildings – Cascade One and Cascade Two – in April from receivers, for £2.35m. The buildings at Aztec West business park are now fully let to the Protection Group International Limited on a 10-year lease.
Chris Nelson of Equity Growth Partners said: “This was a particularly significant deal for us as a firm as these buildings represented the first large acquisition that we had made for ourselves instead of on behalf of a client. We refurbished the properties and negotiated the surrender of the lease from the existing tenant before securing a new tenant for the entire 40,000 sq ft.”
JLL Bristol acted on behalf of Equity Growth Partners.
