Property briefs: Preston scheme on track & more
ARCHITECTS have begun putting together proposals for the regeneration of the Preston Markets Quarter.
A full architectural and ground conditions survey has been completed, allowing the design of the markets scheme to begin.
Traders, customers, stakeholders and other interested parties to be consulted in May to help shape and refine the proposals.
The architects’ brief is to refurbish and make better use of the 1875 market canopy, the larger of the two Grade II listed market canopies to provide new facilities for traders and an event space for the city.
Leader of the Council, Councillor Peter Rankin said: “We are making good progress. Regeneration of the Preston Markets Quarter is the council’s top priority and we want to deliver a bustling and thriving market that the city can be proud of.
“The architects now have everything they need to come forward with a proposed scheme for the market which utilises the listed Victorian market canopy.”
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STOCKPORT-based Heathdown Properties has sold the ground rents, which produce an income of £2,000 per annum, on the 15 apartments at Micker Court, 158 Ladybridge Road, Cheadle Hulme, Cheadle.
Ben Fallows director of TFC who acted for vendor said: “Whilst this was a relatively small ground rent transaction for us, we are seeing a hardening of yields across the board for these popular investments, which in the majority of cases offer investors significant growth potential”.
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ACTING on behalf of Pulse Partnerships, the development company founded by Rich McGawley, Nolan Redshaw has sold the Royal Retail Park to private investors at a 6.25% yield.
The retail development on Bolton Road in Blackburn comprises a Morrisons M local store and Dominos Pizza, producing £73,000 per annum.
Head of investment and associate director at Nolan Redshaw, Neil Higson, said: “We have now worked with Pulse since its inception in 2011, this being their fourth development, each of which is of such quality that they are extremely well received by investors”.
Nolan Redshaw are Regional Surveyors, specialising in investment and development work throughout the North West.
