Our recent acquisitions
We’ve just expanded our investment portfolio with the acquisition of a scheme in Openshaw, Greater Manchester.
Comprising a 28,000 sq ft industrial unit on the town’s Crabtree Lane, the building was acquired in just 21 days using funds from within the business. It is occupied by a longstanding tenant who will remain in the space.
The acquisition is the latest in a long run of purchases we’ve made this past couple of years; we recently acquired 4 acres of land from Salford City Council on the banks of the River Irwell where we are now on site with our next phase of House, while last year we acquired the 46,000 sq ft Office Village at Exchange Quay in Salford Quays for refurbishment and investment.
The scheme, which we have relaunched as Boat Shed, was acquired from a major fund in a deal completed in just five working days and was swifly followed by our acquisition of Brownsfield Mill – now known as Avro – in Manchester from Town Centre Securities; it will be redeveloped as part of the broader Piccadilly Basin regeneration plans. One of the last untouched mills, we’re on site creating some of the city’s biggest apartments there.
This current run of expanding our portfolio started in October 2015, 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, and the Church Inn, acquired 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, 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.
And, while these acquisitions are great news, we are still aggressively on the lookout for even more 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 of the above properties were acquired 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 million sq ft of workspaces in the past 20 years; here’s to creating many more.