Property round-up: Art Business Park; GIA; Royal Albert Dock; Avison Young; TCS; Smith & Sons; Russell WBHO; SBS

Two neighbouring commercial units in Newton-le-Willows have attracted significant demand after entering the market, with one already sold.

The pair of commercial units at Art Business Park, on Sankey Valley Industrial Estate, both with existing long term tenants, were listed for sale as investment properties by Liverpool-based Keppie Massie.

Unit Two, which comprises 1,000 sq ft off Junction Lane in the town, has now been sold to private investors, while the larger Unit One, measuring 1,700 sq ft, has seen major interest in recent weeks and is now expected to go under offer within days.

Art Business Park is located within 30 minutes’ drive of both Liverpool and Manchester and less than two miles from the M6 and M62 motorways.

Tim Garnett, head of commercial at Keppie Massie, says the level of enquiries reflects the growing trend for occupiers and investors to seek high quality stock in good locations.

He said: “There has been huge interest from potential buyers in the last remaining unit, particularly from investors and SIPPs, who see the long term value of a quality product in an excellent location, connected to major local markets and the national transport network.

“This flight to quality is a clear trend and it offers encouragement in the wider market that superior developments such as Art Business Park will continue to maintain their appeal to the right buyers.”

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Commercial surveying and design consultancy, GIA, has relocated to a larger office on Commercial Street in Manchester to accommodate its continued growth.

The move follows a successful year for the Manchester office. Working across all sectors and providing a range of services including daylight and sunlight assessments, dilapidations, rights of light, solar pv, technical due diligence, and wind analysis, GIA in Manchester has developed key relationships with real estate clients including Legal & General, Fusion, AXA, Aviva and Muse Developments.

Michael Beatty, Director and Head of Manchester office, said: “This move represents a significant milestone for our office. The new office space will better accommodate our growing team and enable us to continue providing a first class service to our clients for years to come.”

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Royal Albert Dock Liverpool has submitted plans to Liverpool City Council to enhance its public realm. The plans focus on increasing green areas around the estate with additional planting, introducing a new suite of furniture to promote dwell time of visitors, and improving accessibility to create a more inclusive site.

Consultation with local and dock stakeholders, residents and Liverpool City Council, have surfaced the key priorities of the public realm upgrade , which are to improve visitor experience while celebrating the rich culture, waterfront setting  and architectural heritage of the dock.

Working closely with Liverpool-based design studio, Planit, the plans are Phase 1 of a series of phases to be rolled out, with the works planned to start in spring 2025, subject to planning approval.

Three initial areas of the dock will be developed as part of a multi-zonal strategy, with each zone responding to the characteristics of its surroundings, climatic conditions and  blend with the existing buildings across the estate.

The areas will benefit from coastal and climate adaptive planting with up to 40 new species of plants that have been carefully chosen  to grow and thrive in the sometimes harsh conditions of the waterfront. Underutilised areas will be improved with new seating and furniture, and throughout the site the cobbles will be treated with a grinding machine to provide smoother routes and improved accessibility for wheelchair and pushchair users.

At the North site entrance next to Tate Liverpool, Mermaid Courtyard is designated as a nature-led extension to the art gallery, with plans to use planting and new furniture to soften the external terrace area which Tate Liverpool will open onto following the current renovation works.

The walkway next to the Maritime Museum, Hartley Quay, will be reconfigured to increase accessibility and provide a welcoming waterfront space where visitors can relax, complete with new planting and picnic tables and benches.

And the Northern Gateway – the first experience of Royal Albert Dock for visitors from the city centre – will be greener, softer and more welcoming through the introduction of places to sit and dwell.

Helen Legg, Chair of Royal Albert Dock Liverpool, said “As the largest collection of Grade I-listed buildings in the country, it’s essential that we invest in maintaining and developing the dock. We are doing this alongside ambitious plans by Tate and NML to reimagine the museums on the site thus reinstating Royal Albert Dock’s cultural and heritage significance.”

Royal Albert Dock Liverpool is the freehold ownership vehicle of the wider Albert Dock owned jointly by General Projects and Neo Capital, Tate Gallery, National Museums Liverpool and The Colonnades Residential Ltd.

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Office markets in Liverpool, Leeds, Manchester and Newcastle have all experienced Q3 office take-up levels significantly above those seen in Q2 of this year, according to data from Avison Young.

As seen in the global advisory firm’s latest Big Nine report, Manchester secured two out of the top five largest city centre office deals outside London in Q3, with BNY Mellon’s 196,443 sq ft lease at NOMA, 4 Angel Square and ARM’s 68,860 sq ft lease at No.1 Michael’s.

Manchester also saw the greatest asset transaction volumes, accounting for 37% of the whole Big Nine.

While in the out-of-town market, Newcastle landed the largest letting, with a deal in Leeds coming in third.

Liverpool also had a positive quarter, with lettings totalling 76,839 sq ft – a 108% increase compared to Q2.

Take up in the last quarter of the year is expected to exceed Q3 levels, ending the year on a high and leaving prime rental growth to remain elevated. 

The leading drivers of demand in Manchester and Liverpool over the past year were the professional services, financial services, TMT and creative sectors, which accounted for 58% and 72% of take up, respectively.

Professional services and government were drivers for Leeds and Newcastle, as well as financial services and manufacturing and industry, respectively. 

Chris Cheap, Principal and Managing Director of Transactions at Avison Young, said: “It’s encouraging to see our Northern cities performing well and having one of their collectively strongest quarters in recent years.

“BNY Mellon’s acquisition in Manchester represented the largest deal in the city since 2020, demonstrating that there is a real appetite for best-in-class office space and businesses are happy to invest if the quality is right. 

“The office markets across Leeds, Liverpool, Manchester and Newcastle are very different but one thing appears to be a consistent challenge across them all – the shortage of Grade A stock.

“Developers remain cautious, with borrowing and construction costs still high and limited downward pressure on yields. Supply across regional markets in the short to medium term will be restricted without public sector intervention or significant market shift.”

He added: “Based on schemes currently under construction, we expect to see supply shortages in 2025, which will place additional upward pressure on prime rents.

“We may need to see a significant alteration in approach going forward, with developers setting an ‘entry price’ for new stock based on the mechanics of an appraisal, rather than rental tones which aren’t keeping pace with the needs of the occupational market and the cost of meeting them.” 

The cities covered in Avison Young’s Big Nine report include: Bristol, Birmingham, Cardiff, Edinburgh, Glasgow, Leeds, Liverpool, Manchester and Newcastle.

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Leeds and London-based property investment and car parking operator, Town Centre Securities (TCS), has said that 5,941 sq ft of space has been let to a raft of new tenants at the iconic Ducie House, located just a stone’s throw from Manchester’s vibrant Northern Quarter, Piccadilly train station and the fast growing Ancoats district.

Among the new tenants, Host has taken 2,692 sq ft to establish a creative hub for hairdressers, including a hair salon, an education and events space, and a collaborative environment for the industry’s top talent. Host’s co-owner, Peter Tobolski, said: “Ducie House offers the perfect environment to nurture creativity and foster collaboration, and we’re excited to be part of this vibrant community.”

Also joining Ducie House is Shanghai Startex Co, occupying 322 sq ft for its first UK office. Jane Clarke, Creative Director and General Manager of Startex’s UK office, said: “Ducie House’s central location provides us with seamless access to key retailers for research and development, along with excellent connectivity from Piccadilly and nearby motorways. We look forward to bringing our trend-led designs and high-quality products to the UK market.”

Other new tenants include Output Precision, a specialist in 3D data capture, occupying 232 sq ft and WSG Fire Safety Consultancy, who offer fire risk assessment and fire strategies from its new 213 sq ft space. Meanwhile, Mesoo, a one-stop e-commerce and live stream agency, has set up its TikTok and digital services within Ducie House.

TCS also announces the growth of the BR2.0 Group, an end-to-end provider of property solutions that includes Big Red Construction and developer Xpercity. Already established within Ducie House, the group – operating under the ‘Develop, Deliver, Maintain’ premise through its entities Xpercity, Big Red, and Inspired – has now secured a larger 2,195 sq ft suite to accommodate its growing team. 

Mike Lomas, founder of the BR2.0 Group, said: “Following the launch of our new structure as the BR2.0 Group earlier this year, Ducie House has been the perfect location for allowing our business to thrive.”

Matthew Wright, Associate Director, Estates, for TCS, said: “It’s fantastic to welcome such a diverse range of businesses to Ducie House. The extensive refurbishment in 2020 was a real game-changer, transforming the space into a contemporary hub while maintaining its unique character and historic roots.

“We’re especially grateful for the support of our agents, Avison Young, OBI, and Daniel Harris, whose collaboration has been instrumental in securing these deals.”

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Smith and Sons has revealed its latest property auction catalogue featuring 30 lots, including Lord Derby’s former hunting lodge on Merton Road, in Bootle, Liverpool.

The online auction will take place on December 4, with viewings already under way.

Of significant interest is Lot 10, the Grade II-listed, double fronted, eight bedroomed property, a former hunting lodge owned by Lord Derby and reputed to be the oldest property in Bootle dating back to the 18th Century, guided at £340,000-£360,000.

Several commercial lots feature in the auction, including a former children’s nursery on Eastham Rake that has permission to convert back to a single residential dwelling and is set in large grounds with some development potential and include a large chalet suitable as a home office/summer room and guided at £360,000-£400,000.

Chris Johnson, Auctioneer at Smith and Sons, said: “This is an exciting auction that features some really interesting properties, several being offered at large discounts from previously advertised prices and offering huge scope for potential and improvement either for investors, developers or owner occupiers.”

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Russell WBHO has been selected for the third and largest phase in a major programme of works at The Mere Golf Resort & Spa in Knutsford, Cheshire.

Bringing the total scheme value to circa £50m, the contract will see the Manchester-based contractor fit-out the future ‘Fairmont Cheshire The Mere Golf Resort & Spa’, a 5-star hotel, golf and spa resort.

Appointed by UAE-based Select Group, Russell WBHO has been on site since October 2023. The project involves a complete upgrade of the existing 87 guest rooms, adding another 30 bedrooms to the property, and a two-storey expansion of the conference venue to create space for larger events as well as a pre-function bar area.

The construction of a new golf pavilion and celebrity restaurant add to the programme along with improvements to the main building, and creating a new entrance, reception area, and kitchen space. The revamped resort will also benefit from upgrades to the existing orangery, gastro pub at the golf club, meeting rooms and office space.

Gareth Russell, Russell WBHO Managing Director, said: “Fairmont Cheshire The Mere Golf Resort & Spa will be one of the most exclusive hotel, golf and spa destinations in the North of England, so we are proud to add this extremely prestigious scheme to our portfolio.”

Israr Liaqat, Group CEO for Select Group, said: “Russell WBHO’s expertise in the hotel and leisure sector resonates with the detail required to deliver our vision for this project.”

Once complete, the project will see Fairmont Cheshire at The Mere Golf Resort & Spa become Accor’s fourth Fairmont-branded property in the UK, joining Fairmont Windsor Park, Fairmont St Andrews and The Savoy, a Fairmont Managed Hotel.

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A total of 215 properties in Wythenshawe, Manchester, are set to receive retrofit decarbonisation measures designed to change the lives of those living in them.

The work will be delivered under an £8.75m project partnership between Sustainable Building Services (SBS) and Wythenshawe Community Housing Group.

The project is expected to take up to 10 months to complete, with a projected end date of September 2025.

The planned upgrades installed in the properties will raise the Energy Performance Certificate (EPC) ratings to a C or above, helping residents reduce energy costs and improving the quality of living conditions – contributing to better physical and mental wellbeing.

Each semi-detached house will receive a bespoke assortment of retrofit measures, which could include the installation of external wall insulation, the resetting and replacement of windows, loft insulation, bathroom ventilation and door undercuts.

Ian Jones, regional director at SBS, said: “External wall insulation is just one of the many ways that we can support people with decarbonisation projects. These combined decarbonisation retrofitting measures will help keep homes warmer in winter and cooler in summer, reducing energy costs, lowering the carbon footprint and increasing the longevity of a property.”

Adrian Waywell, project manager at Wythenshawe Community Housing Group, said: “We’re committed to working with SBS to deliver these improvements, while also considering and contributing to wider social value opportunities for the community.

“We are in the early stages of the programme and happy to say that the works have got off to a good start and collaboration between SBS and WCHG is going well.”

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