Manchester-based property investment and development company, Hurstwood Holdings, has expanded its national commercial property portfolio to more than £420m following the completion of three strategic acquisitions across the North West of England and Scotland following a busy July acquisition trail.
Leading the trio of deals is the off-market acquisition of Brook House in the heart of Wilmslow town centre, purchased from Marquee Estates, for an undisclosed sum.
The prominent vacant 6,200 sq ft office building occupies one of the Cheshire town’s most sought locations and will undergo a comprehensive refurbishment by Hurstwood’s in-house estates team to deliver high quality office accommodation with suites available from 2,000 sq ft, alongside 2,000 sq ft of ground floor retail space, creating a vibrant mixed use environment for this landmark building.
Hurstwood has also strengthened its industrial presence in Lancashire with the acquisition of Rossford House, a 21,000 sq ft warehouse in Rawtenstall, again for an undisclosed sum.
The purchase further consolidates the company’s significant holdings in the area. The building represents the final piece of a strategic ownership cluster, sitting alongside Hurstwood’s neighbouring assets including Orient One and Station House, providing enhanced asset management and future repositioning opportunities.
Completing the hat-trick of acquisitions, Hurstwood has further expanded its Scottish portfolio with the purchase of 7 Lochside View, a landmark 60,167 sq ft Grade A office building at Edinburgh Park, acquired in an off-market transaction for an undisclosed sum.
Occupying one of the most prominent positions at the entrance to Edinburgh Park, the building is home to established occupiers including Origo Services Limited and WSP UK.
Stephen and Sam Ashworth
Hurstwood plans to invest £1.5m in a comprehensive refurbishment programme, creating a best-in-class workplace with modern occupier amenities and flexible office suites from 1,000 sq ft to full floorplates, further strengthening the company’s growing presence in Scotland.
Stephen Ashworth, Hurstwood Holdings executive chairman, said: “These three acquisitions demonstrate the continued momentum of our investment strategy and take Hurstwood Holdings’ national commercial property portfolio beyond the £420m mark, totalling more than five million sq ft of office and industrial space.
“Brook House gives us an outstanding opportunity to create premium office accommodation in one of Cheshire’s most desirable locations, while Rossford House further strengthens our already substantial presence in Rossendale by completing an important piece of the jigsaw there.”
He added: “The acquisition of 7 Lochside View is equally significant, reinforcing our long term commitment to Scotland and adding another landmark asset to our growing portfolio north of the border.
“Across England, Scotland and Wales we continue to identify well located opportunities where our experienced in-house asset management teams can unlock value through refurbishment, active management and investment.”
He said: “While market conditions remain challenging, we continue to acquire high quality assets with strong fundamentals and clear opportunities for enhancement.
“We have already completed acquisitions totalling more than £10m this year, with a strong pipeline of further opportunities expected to take that figure beyond £20m before the end of the year.”
