Urban Splash acquires four new investment and development properties

The former Regiment pub site sits amongst a plethora of other Urban Splash developments in the Castlefield area of the city. It was owned by Urban Splash until 2006 before it was bought by Crosby Homes and ultimately Lend Lease and comes with planning permission for the development of 44 apartments.

Urban Splash reacquired the scheme in an off-market purchase for an undisclosed sum via private contacts in a deal completed in just 10 days from the offer being accepted to legal completion. Vaq Farooq of Shoosmiths represented the vendor while Julia Flattery at Eversheds represented Urban Splash.

Speaking of the deal, Urban Splash director Nathan Cornish said: “We are delighted to have acquired these sites; it’s great that we are able to act so quickly in taking advantage of any opportunities the market can offer.”

The company has also recently completed purchases of other buildings totalling more than 20,000 sq ft of space including Phoenix Mill on Piercy Street in Ancoats, 97 Manchester Road in Altrincham and 36 Euston Road in Morecambe. The collection of investment properties, which are already occupied by tenants including charities, William Hill Bookmakers, independent retailers and residential spaces, have been acquired by Urban Splash on behalf of TBI 2000 Limited – one of its investment partners.

Concluded Nathan Cornish: “These purchases represent Urban Splash’s desire and ability to acquire development and investment properties. It shows that we are able to act quickly and grow our investment portfolio which totals over 1 million sq ft and our pipeline of more than 2000 residential units. We are always pleased to see details of any new opportunity and can transact quickly and unconditionally.”

Anyone wishing to discuss further opportunities with Urban Splash should contact Nathan Cornish on nathancornish@urbansplash.co.uk