HURSTWOOD HOLDINGS ACQUIRES SECOND MAJOR OFFICE BUILDING ON CHESTER BUSINESS PARK

February 9, 2024
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.  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

The building 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.

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