HURSTWOOD HOLDINGS SECURES LARGEST TRAFFORD PARK / SALFORD OFFICE DEAL OF 2024

Manchester based property investment and development company, Hurstwood Holdings has agreed the largest office letting of the year in Trafford Park and Salford following the 18,043 sq ft letting to housing trust, the L&Q Group.

Nexus, the Hurstwood Holdings owned Grade A office building, is situated at the entrance to City Park Business Village, less than 1.5 miles from Manchester city centre and close to the junction with Trafford Road and Wharfside Way.  Acting on behalf of Hurstwood, sole letting agents, Edwards agreed a 16 year lease was agreed with L&Q for the top two floors at £14.15 per sq ft.

Andy Park, Managing Director of Hurstwood Holdings adds:

“L&Q is a great addition to our already expansive portfolio of high calibre tenants.  Over the next few months, we will be working with the L&Q team to carry out a bespoke fit out of this prominent building that accommodates its specific requirements.”

Andy continues: “This deal forms part of our portfolio with Rothschild with whom we were delighted to work with again.  Thank you also to Gateleys for their valuable legal advice.”

Oliver Woodall, Associate Director at Edwards, comments:

“This modern headquarters style office building was ideal for L&Q as it looks to relocated its operations from its previous premises in Sale.  There are few opportunities in the market at present to acquire buildings of this size and given its unique location and the current challenging market, we were pleased to have been able to secure this deal for both parties.”
L& Q was unrepresented.  

Refurbishment of Parc Menter, Amlwch

The refurbishment of industrial units and offices at Parc Menter, Amlwch is well underway.

The £2m refurbishment is being undertaken by Pi Real Estate a subsidiary of Hurstwood Holdings.   The original property will be split to provide a range of units for industrial, warehouse and office occupiers.  There will be a total of 10 units ranging in size from 955 sq ft to 21,000 sq ft which will be ready for occupation in Q2 2024.  The split has been designed to appeal to a wide range of businesses from start-ups to those looking to expand. 

Parc Menter is situated on the north coast of the Isle of Anglesey and is the largest site and building on the well established Amlwch Industrial Estate.  

The building has the advantage of large service yard areas with excellent  HGV access and extensive parking areas to the front, side and rear.  

The site benefits from being part of the Anglesey Enterprise Zone and regeneration area, allowing tenants access to additional Welsh Government support, unique enterprise zone funding streams and training opportunities.  The port of Holyhead is less than a 20 minute drive to the west, with the advantage of  Anglesey’s newly approved bid to become the first Welsh Freeport.  

The Anglesey Energy Island programme aims to put Anglesey at the forefront as a hub for investment in the sphere of renewable and low carbon energy.  The site lies approximately 7 miles from Wylfa which remains a designated location for new nuclear generation development in the Government’s “Civil Nuclear Roadmap to 2050” published in January 2024.  

In addition, just off the coast from Almwch Port is Awel Y Mor, RWE’s new offshore windfarm development, which will cover an area of 78 square kilometres and provide up to 50 new turbines.

There is an abundance of skilled labour in the immediate area.  Other notable occupiers on the estate include Detsche Windtechnik, Huws Gray and the Welsh Ambulance Service.

Interested parties should contact letting agents Legat Owen or BA Commercial.

Rupert Chadwick-Dunbar rupertchadwickdunbar@legatowen.co.uk /Mark Diaper markdiaper@legatowen.co.ukor Robbie Clarke Robbie.Clarke@bacommercial.com / Howard Cole Howard.Cole@bacommercial.com

HURSTWOOD HOLDINGS ACQUIRES SECOND MAJOR OFFICE BUILDING ON CHESTER BUSINESS PARK

Hurstwood Holdings has expanded its ownership on Chester Business Park with a second acquisition "Hilliards Court".  Following the purchase of 3-4 Hilliards Court at the end of last year, the Manchester based property investment and development company has bought Elegant House – a 15,361 sq ft purpose-built office headquarters for an undisclosed figure with a new initial yield of 16%.  The stand alone building, which sits on a 1.77 acre site is fully let to expert travel agency, Elegant Resorts Limited.

Stephen Ashworth, Chairman and CEO of Hurstwood Holdings, says: “Chester Business Park remains a focus for us as we continue on our acquisition trail and look to build on our £300 million UK portfolio throughout 2024.  As proactive asset managers, we have already undertaken significant works at Hiliards Court, creating flexible office space from 200 sq ft.  Elegant Resorts is a strong covenant that has been in situ for more than 15 years and I am very pleased to add this impressive building and occupier to our portfolio.”

HURSTWOOD HOLDINGS ACQUIRES SECOND MAJOR OFFICE BUILDING ON CHESTER BUSINESS PARK

Hilliards Court was bought from a private investor,  Oliver Rowe of Edwards acted on behalf of Hurstwood Holdings with Gateleys providing legal advice.  Darren Switzer of LHV arranged the funding.

Hurstwood Holdings currently has a property portfolio valued at over £300 million, comprising more than 150 sites nationwide housing in excess of 1,000 occupier clients nationwide.

AM Sci tech Completes Historic Acquisition of Aberdeen Energy Park and Innovation Parks

Manchester based property company, AM Sci Tech – a subsidiary of Hurstwood Holdings – has successfully finalised the acquisition of one of the most significant property deals in Aberdeen in the last decade. This landmark acquisition encompasses Aberdeen Energy Park and Aberdeen Innovation Park, two expansive science parks in Bridge of Don, North of Aberdeen, comprising more than 13 buildings, ground leases, a diverse community of 120 occupier tenants and a vast 100 acres of untapped development potential.  The Parks were bought from Moorfield for an undisclosed sum.

The acquisition is the culmination of over two years of meticulous planning and dedication.  Both parks feature a wide array of traditional industrial and multi let office buildings as well as laboratories, primarily tailored to support science, oil, gas, and related businesses. With this acquisition, Hurstwood now solidifies its position as one of the most prominent property owners in Aberdeen.

Stephen Ashworth, Chairman and CEO of Hurstwood Holdings, expressed his enthusiasm for this milestone: "I am delighted that we now have control of these two extremely important sites for the city of Aberdeen in Scotland, the energy capital of Europe. The UK must become more independent for its energy supply in the coming years, and Aberdeen plays an extremely important part in this journey. We are very excited about the future potential and prospects and extremely pleased to be playing our part in this as a UK-wide property company."

AM Sci Tech's acquisition secured the estates management team and associated services and contracts. Going forward, management will be overseen by the team in Aberdeen and Hurstwood Asset Management, which is based at Hurstwood’s head office in Peter Street, Manchester.  Stephen adds: “Through considered and strongly focused asset management, the Parks have significant potential to improve its current income profile, which we believe could exceed £100 million in the next 10 years.”

King Street Real Estate acted on behalf of AM Sci Tech in the acquisition. Ted Murray of King Street Real Estate comments: “We believe Scotland has been significant oversold on the last decade, in particular Aberdeenshire. The government’s recent plans to grant new North sea oil and gas licences will no doubt bolster demand for commercial space in the area and drive significant value for investors going forward. 

The parks themselves are made up of 13 office, laboratory and industrial buildings. Comprising 100 separate occupational and ground leases, we are delighted to have advised on such a highly complex transaction through to a successful conclusion. We look forward to a continuing involvement and working closing with HAM to realise the business plan over the coming years.”

Ritchie Watson, Corporate Lending Director at Together, which provided the funding for the deal, said: “We are delighted to have been able to work with the AM Sci Tech team to provide the multi million pound funding needed to complete the purchase.  Seeing Hurstwood Holdings continue to go from strength to strength and building a 15 year strong relationship with Together has been incredibly rewarding for us.  We look forward to working with them again in the future.”

King Street Real Estate acted as the broker and manager of the deal, while Burness Paul Scottish Law handled the legal aspects.  Jayne Hindle, Hurstwood Group’s in house lawyer and Julie Black, Director and Company Secretary of Hurstwood Group worked alongside the brokers and legal teams to manage the deal.

For press enquiries please contact:

Anna de la Perrelle anna@delapr.com / 07876528773

Hurstwood Holdings Acquires Chester Office Block

Hurstwood Holdings, the Manchester based property investment and development company with a £300 million national portfolio, has acquired an 8,178 sq ft modern office building on Chester Business Park for an undisclosed sum, with a net initial yield of circa 14%.

Hurstwood Holdings bought 3-4 Hilliards Court; a modern two storey purpose built office building with four self-contained suites from a private vendor.  Only one suite of 1,826 sq ft is currently available with the other three being let to Howden Group Services Limited, TBC Recruitment Limited and Eclipse Creative Construction Limited.  Hurstwood plans to convert the remaining suite to provide flexible office solutions for local occupiers from 200 sq ft.

Stephen Ashworth, Chairman and CEO of Hurstwood Holdings, says: “I have been keen to acquire properties on the prestigious Chester Business Park for some time so I am very pleased to have secured this purchase.  Whilst we are currently operating in a very challenging market, Hurstwood continues to perform with several more deals already in the pipeline.  We have an exceptional team helping to make these deals happen and I wanted to make a special thank you to Jayne Hindle, our in house lawyer for her amazing work.”

King Street acted on behalf of Hurstwood Holdings with LHV providing the funding and Gateley was the legal advisor.  BA Commercial represented the vendor.

Hurstwood Holdings currently has a property portfolio comprising more than 150 sites nationwide housing in excess of 1,000 occupier clients.

Hurstwood Holdings Completes First Phase of Lancaster 40 million industrial business park

Hurstwood Holdings has completed the first phase of its £40 million business park scheme in Lancaster on time with work being undertaken by the Group’s in house construction team. 

Comprising three blocks of speculative, high-quality industrial units totalling 34,000 sq ft, the buildings range in size from 1,150 sq ft to 2,900 sq ft with the possibility to accommodate immediate requirements up to 20,000 sq ft.

Planning for the 200,000 sq ft scheme was granted in 2021 with work starting at the beginning of last year.  The new business park will also see the inclusion of an on-site café, pharmacy, convenience store and a nursery, which are currently under construction.

Hurstwood Holdings acquired Lune Business Park more than 15 years ago and has successfully managed the established scheme since.  Lune has proven to be popular with both existing tenants taking additional space and new occupiers relocating to the site. Quoting rental levels for the new units are from £12 per sq ft and £5 per sq ft for the mezzanine levels.

The new scheme will offer floorplates from 1,000 sq ft up to 100,000 sq ft with design and build opportunities also available.  As part of the plans, Hurstwood will also be contributing to a new bus service connecting the business park to Lancaster city centre and surrounding areas.

Sam Ashworth, Project Director at Hurstwood Holdings, comments: “The completion of this first phase marks an exciting milestone in this scheme and we look forward to welcoming the first new tenants to the Park.  The exceptionally high standard of industrial units that we have created at Lune can accommodate multiple uses and importantly, address the lack of available product in the area.

“The new scheme will continue to be developed on both a speculative and design and build basis offering accommodation up to 100,00 sq ft over the next four years.  We are now in the process of planning the second phase, which will start on site the coming months.”

Chloe Ellerby, Associate Director at Hurstwood is managing the letting of the units for the scheme with Taylor Weaver and Savills retained as joint letting agents.

Celebrating the Success of the "Spring Soirée": A Memorable Gathering

We are thrilled to share the success of our recent "Spring Soirée," held last Thursday. The event provided an exceptional opportunity for us to reconnect with our valued partners and colleagues, as well as create new connections within our professional network. It was truly a joyous occasion that exceeded our expectations.

The atmosphere was filled with excitement as old friends and new acquaintances came together to celebrate. Laughter and conversations flowed freely, creating a vibrant and welcoming ambiance. We were delighted to see familiar faces and meet new ones, forging stronger bonds within our community.

We extend our heartfelt gratitude to each and every person who graced us with their presence. Your attendance and participation contributed greatly to the success of the event. It was a pleasure for us to spend this special day in your company, enjoying the camaraderie and sharing memorable moments.

We would also like to take this opportunity to announce that all the captivating moments captured during the "Spring Soirée" have been compiled in this article. You can find a collection of photos from the event, allowing you to relive the experience and cherish the cherished memories created together.

Once again, we express our sincere appreciation to everyone who attended the "Spring Soirée" and made it an unforgettable afternoon and evening. We look forward to future gatherings and the chance to continue fostering meaningful connections within our network.

Here's to many more joyous celebrations and successful events in the future!

Aimee Beaumont Promoted To Operations Director Of Hurstwood Holdings

AIMEE BEAUMONT PROMOTED TO OPERATIONS DIRECTOR OF HURSTWOOD HOLDINGS

Aimee Beaumont has been promoted to Operations director of Hurstwood Holdings and joining the main Group board after more than a decade working in the business.

In her new capacity as Operations Director, Aimee is responsible for the day to day running of the business.  Aimee began working for Hurstwood Holdings as a purchaser ledger 12 years ago during which time she has been actively involved in the majority of the company’s projects across all sectors including asset management, acquisitions and marketing.

Andy Park, Managing Director of Hurstwood Holdings, said: “Since Aimee joined the company, she has been instrumental in the growth of the company and I know that she will continue to develop and help drive the business to new heights.”

Commenting on her promotion, Aimee said: “As a business, Hurstwood continues to go from strength to strength, attracting the best talent in the market.  We have just had one of our best years ever and I am very excited about the future of the company.”

Hurstwood currently employs 100 people nationwide with 25 based in its head office in Manchester.

Hurstwood Holdings Launches Self Storage Concept "Lock it Self Storage"

Manchester based property investment and development company, Hurstwood Holdings has launched a new self-storage concept, Lock it Self Storage with its first premises set to open Wigan town centre before the end of the year.

Led by Hurstwood’s in house team of property experts and self-storage management, Lock it Self Storage will provide flexible storage solutions in strategic locations both in city and town centre locations and on the outskirts to accommodate growing demand from in both private residents and local entrepreneurs.

Stephen Ashworth, Chairman and CEO of Hurstwood Holdings, comments: “The first Hurstwood Storage, situated on Standishgate in Wigan, will see our team – led by project director, Sam Ashworth and Phil Brassell – repurpose a former night club to provide an 17,750 sq ft of state-of-the-art storage facility.  The self-storage sector is one that continues to benefit from strong growth with demand consistently far outstripping supply and by entering this area of the market, we will add a new layer of value to our already extensive real estate portfolio.”

Having already secured planning permission, Hurstwood is also in negotiations to convert the upper floors of the building, known as Bryan House, in to 45 one bed apartments.

Hurstwood plans to roll out its self-storage concept nationwide with further sites already identified in Lancaster, North Shields and Dumfries.

Hurstwood Holdings is a commercial and residential property group with over £250 million of properties on 135 site nationwide housing more than 1,000 occupier clients.

For further information please contact:

Anna de la Perrelle anna@delapr.com / 07876528773

Hurstwood's Half Year Review.

Hurstwood to acquire 96,000sqft office space in Newcastle

Q4 | Quorum Business Park.

We are delighted to announce we have recently acquired Q4, Quorum Business Park, Newcastle-Upon-Tyne. The property, in one of Newcastle prime business parks, spans over 96,000sqft and is located just 2 miles from Newcastle City Centre and 15 minutes from Newcastle International Airport.

Following a refurbishment programme, we will be making the remaining 48,000sqft space available to the local business community with suites ranging from 5,000 to 24,000sqft. The property includes a 2 passenger Lift, Grade A Office Space, dedicated bus services to metro stations, as well as 384 car parking spaces.

This takes Hurstwood Holdings assets to £150m on 100 sites nationwide housing over 600 occupiers. Chairman Stephen Ashworth commented, “We are delighted to now be operating in Newcastle in addition to many other major cities around the UK and to constantly improving our extensive property portfolio and providing a first-class service for all our occupier clients nationwide”.

Sian Hindle, Sales Manager at Hurstwood Comments: “We are excited to offer this latest property to the businesses of Newcastle-Upon-Tyne. Q4 is one of our largest acquisitions to date and is one of many properties Hurstwood Holdings will be investing in this year.”

For more information, visit Q4 Quorums dedicated property page or call us at 0161 220 1990.