We’ve had a great recent run of acquisitions, with our most notable recent purchase in March 2017 - Beehive Mill in Ancoats - now complete.
The building was bought by Urban Splash off a major London fund in just nine days, from offer to completion; Beehive Mill will be invested in, refurbished and kept as a creative workspace creating hundreds more jobs.
Our acquisition run began back in October 2015, when we purchased off-market 4 Canal St in Manchester from private vendors. A fully-let, 19,000 sq ft commercial building bought in partnership with Pears Group using internal resources.
We soon followed it with the acquisition of the former Regiment pub site in Manchester’s Castlefield - a scheme which has planning permission for 44 apartments - from major listed developers. The off-market transaction was completed in just 10 days.
In December 2015, we purchased a plot of land to the south of the Walsall Canal, adjoining the award winning, new art gallery by 2016 Stirling Prize winner Caruso St John.
And another commercial acquisition came in the form of Phoenix Mill in Ancoats, the Church Inn in Hulme and 64 Oldham St in Manchester’s Northern Quarter, all acquired for cash on behalf of investment partner TBI2000 Investments…
Meanwhile, we were given a chance to extend our work in Plymouth - where we’ve converted Royal William Yard into a great place to live and thriving tourist destination - by acquiring the city’s Grade II Listed Civic Centre from Plymouth City Council. Designs are currently being worked up for the building.
Back in the North West, we had a successful run of Summer acquisitions, first of all taking on the Barton Business Park in Eccles; an industrial investment on a 2.6-acre site acquired in a cash purchase by Urban Splash…
We also purcahsed four acres of land from Salford City Council on the banks of the River Irwell where we are now on site with hoUSe Irwell Riverside.
And soonafter, again with our JV partner Pears, we acquired the 46,000 sq ft Office Village at Exchange Quay in Salford Quays for refurbishment and investment. The scheme was acquired from a major fund in a deal completed in just five working days.
Late in 2016, we acquired Brownsfield Mill in Manchester from Town Centre Securities which will be redeveloped as part of the broader Piccadilly Basin regeneration plans. One of the last untouched mills, we’re hoping to create the city’s biggest apartments there - with hopes for lofts of upto 4,000 sq ft!
So what next..? Well, we’re still aggressively on the lookout for new buildings, investment properties Brownfield sites that we can turn into contemporary spaces where people can live, work and play so get in touch if you wish to discuss a prospective development by emailing us on firstname.lastname@example.org.
All the properties we’ve acquired this year were completed on the offer terms initially agreed, using internal resources and without bank debt; something which allows us to act decisively and quickly
We’ve created more than 4,000 homes and 2 billion sq ft of workspaces in the past 20 years; here’s to creating many more.