Property briefs: Eric Wright Group; Cassidy & Ashton; CPUK & more
PRESTON-based constructor Eric Wright Group is to target new land acquisitions and property development opportunities following £5m in funding from Santander Corporate & Commercial.
With origins dating back to 1923 and now operating via a number of subsidiaries, Eric Wright has grown to become one of the largest diversified property firms in the North West.
Amongst other projects, in January this year, the group’s subsidiary, Maple Grove Developments, sold a 326-student housing development in York to McLaren Property and Eric Wright Construction was given the green light to build Cumbria County Council’s new headquarters.
The firm’s civil engineering division has enjoyed strong growth, with turnover up 11.5% year-on-year to £29 million at the end of 2013, while its residential division saw turnover double over the same time period. Turnover for the group’s construction division – its largest division by revenue – held steady at £101m for the year to December 2013.
The Eric Wright Group, whose turnover was £153m as at the end of 2013, will use the funding from Santander Corporate & Commercial to support the acquisition of new land banks for development, help expand its fast-growing residential property unit, and also help capitalise on opportunities in the public sector, including from the NHS.
Group managing director Jeremy Hartley said: “Having restricted capital expenditure through the economic downturn, we are now in a position to consider expanding and this new facility provides the group with the appropriate financial infrastructure on which to undertake such growth.
“Whilst our focus will remain the North West we will also look for suitable opportunities across the wider region if they arise.”
Santander’s relationship director, real estate team, Matt Jones, said: “We’re delighted to be able to support such a prestigious and well-run company which, in our view, is set for a period of strong growth.”
“We have delivered a suitable funding package fine-tuned to the needs of the business and I’m wholly confident that the Eric Wright Group will continue to grow and be highly successful.”
::
NORTH West builder Construction Partnership UK (CPUK) has begun work on a £4.4m warehouse and office development in Greater Manchester.
CPUK won the contract to build two warehouses and incorporated offices at Trafford Park.
The “big shed” project is being developed by HEREF Merlin Trafford Park Property Unit Trust and work is scheduled to be completed later this summer. It has been designed by London-based architects Michael Sparks Associates.
The overall development is 113,250sq ft in size. Unit one will consist of 32,280sq ft of warehousing together with 5,450sq ft of ground floor offices.
Unit two will be made up of 63,520sq ft of warehousing together with a two storey office of 12,000sq ft.
The warehouses will be steel frame with cladded external elevations and the office will be fully fitted out.
CPUK is also providing an external service yard, service road, associated car parking and external landscaping.
The West Lancashire-based company’s current order book stands at more than £50m, with major projects in all sectors, including commercial and homebuilding.
The company is working on projects across the North West and the Midlands as it looks to grow that order book further in the next 12 months.
::
ARCHITECTURAL and planning consultancy, Cassidy and Ashton, has been commissioned by Moor Park High School and Sixth From in Preston to deliver a two-storey extension.
The £400,000 project, which has now started on site, will increase capacity at the school from a four-form to five-form entry – an intake of up to 30 additional pupils each year to take its capicity to 568.
The 1,100 sq ft extension is the school’s third in as many years and will merge with the existing building to create two additional classrooms on the ground and first floor levels.
It is part of a multi-phase redevelopment programme to provide additional teaching space, with previous phases, all designed by Cassidy + Ashton, including the development of Moor Park’s inaugural sixth form centre and associated accommodation, a new state-of-the-art sports hall and dedicated learning environments for science and ICT.
Constructed from a lightweight frame clad in structural glazing, the extension is a delicate and transparent addition to the historic façade overlooking the iconic Moor Park.
::
COSTA coffee has created a stir at Rochdale Exchange by opening a new branch in the shopping centre with the creation of eight new jobs.
The new coffee shop favourite, in a prime position close to the shopping centre entrance, was filled almost instantly with new customers when it opened its doors this week.
The latest Rochdale Exchange business boost comes following the launch of two new fashion stores, Style ladies accessories and DCM for men, along with the busy Poundland branch moving into larger premises almost double the size of its former base.
Lorenzo O’Reilly, Rochdale Exchange Manager, said: “Costa Coffee has been an instant hit with our loyal shoppers who flooded through the doors when it opened its doors for the first time on Wednesday.
::
WORK is underway on a conservation project to replace the roof at an 8th century church in the Lancashire seaside village of Heysham.
The project at the Grade I listed St Peter’s Church will see contractors using stone tiles taken from the adjacent church hall roof to replace damaged stone on the church roof which had been allowing water in. The oak pegs that hold the stone tiles in place are being replaced along with the internal roof plaster.
The church hall’s roof was replaced with traditional slate last year as part of a wider restoration and refurbishment project aimed at making it more accessible to the local community.
Two North West architecture practices, Harrison Pitt Architects, with assistance from John Coward Architects, have been entrusted to oversee the project on behalf of Heysham Parochial Church Council (PCC) whose members have been involved in a huge fundraising effort with the local community.
Richard Wooldridge, an Architect at Harrison Pitt, said: “St Peter’s is one of Lancashire’s oldest places of worship, dating back to the Saxon period, so it’s of great historical and architectural significance.”
Specialist conservation contractor William Anelay worked alongside Harrison Pitt Architects on the restoration plans.
The project team is working with English Heritage and the Ancient Building Trust on the restoration to ensure the end result is identical to the original roof.
The work will be carried out in two phases. The first phase, which will cost £249,000, will fix the roof covering the north aisle, south aisle, nave and bellcote tower, while phase two will see the restoration of the remaining roof space with an additional £146,000 being raised to cover the cost of this.
::
LAW firm Brabners has launched Legal Property Solutions, a service which offers legal resolutions for property disputes.
The creation of the resolution service follows the controversial rise in court fees which came into force sooner than had been previously expected on March 9.
The company, which has offices in Manchester, Liverpool and Preston, says there is a real fear that the increase in fees will deny many smaller businesses and private individuals access to justice.
Through the introduction of Legal Property Solutions, Brabners says it is offering an alternative for all potential litigators by enabling the parties involved to choose their own preferred method of resolving or determining a dispute.
The services on offer include mediations, indications on paper, hearings on paper, settlement hearings and live hearings – all alternatives to court.
To access this service, businesses and private individuals involved in a dispute can either contact Legal Property Solutions directly or through their own solicitors who will be able to assist and guide them through the process involved.
The idea for Legal Property Solutions was conceived by Brabners partner Rachel Watkin and senior associate Karen Beddow.
Watkin said “When I read the news, my first reaction was that it could be disastrous, not just for lawyers but many small businesses and private individuals who may now have difficulties in bringing claims. We believe that there is always a solution and the inception of Legal Property Solutions was the obvious way of safeguarding access to justice.”
