Urban Splash announces acquisition of Beehive Mill with deal completed in just nine working days
Urban Splash has purchased the iconic, Grade II Listed, Beehive Mill in Ancoats – birthplace of legendary club brand Sankey’s Soap.
The 53,600 sq ft building, situated on Jersey Street, was another swift purchase by Urban Splash who moved from offer to completion in just nine working days. It is the third major acquisition by the company in the city region in past ten months, with each deal notably taking less than 28 days to complete and made with cash reserves.
Nathan Cornish, director at Urban Splash explained: “We’re delighted to have finally bought Beehive Mill. We make no secret we’ve tried and failed to buy this building in the past so it’s been a long-term target for us.
“A lot of people, including us at Urban Splash, know the building as the home of Sankey’s which took up around a fifth of the building. Our focus and responsibility is now to give it an exciting future to further boost this booming part of Manchester.”
The purchase extends Urban Splash’s portfolio in the Ancoats area; the adjacent community of New Islington is a key site for the company and home to its modular family housing concept – house. Urban Splash has also recently secured planning permission for its Mansion House apartment scheme on the site.
Urban Splash intends to keep the building as workspaces, with units immediately available ranging 190 sq ft to 11,000 sq ft. Nathan continued: “Urban Splash and many others see this area as a great place build houses and apartments, but we also believe it needs a working heartbeat too. We’ve recently completed the nearby Stubbs Mill; its letting to Fanatics will bring 250 new staff to Manchester and Beehive will give us the chance to offer more great workspace to the market.
“Two-thirds of the building is vacant so we will be refurbishing much of that space to make it feel more like an Urban Splash building. We are genuinely excited about what we can do with this historic venue.”
Added Ed Rooney of Savills: "We are delighted to have completed this deal on behalf of the vendor; the cooperation of Urban Splash resulted in a swift transaction and ensures that Beehive Mill has a promising future in the hands of a renowned Manchester developer."
Other notable Urban Splash acquisitions in the past year include Office Village in Salford Quays, a deal completed in just five working days with the company’s JV partner Pears, the former Regiment pub in Castlefield, Barton Business Park in Eccles, Phoenix Mill in Ancoats plus sites in Walsall, Salford and the Civic Centre in Plymouth.
Savills acted as selling agents, dealing directly with Urban Splash and our legal process was handled by Eversheds. Businesses wishing to view the available units should contact Nicky Harries at Urban Splash on firstname.lastname@example.org