Archive

  1. Tim Groom Architects gain planning for Bruntwood Hall

    On Tuesday 14 July Manchester based architecture firm, Tim Groom Architects received the planning permission from Stockport Council to convert Bruntwood Hall, situated in Bruntwood Park, Cheadle, into a boutique hotel on behalf of Oddfellows Hotels.

    The proposal involves restoring and converting the 19th Century mansion to create 22 bedrooms, a restaurant, cocktail bar and private dining rooms.  There are also plans to incorporate a spa facility.  The value of the project is approximately £3.5 million and it is planned to open in spring 2016.

    This will be the first time the impressive building based in the centre of Bruntwood Park will be a hotel. Its previous uses have included a Town Hall, a racehorse stud farm and more recently home to a filming company.  Bruntwood Park has over 100 acres of sprawling parkland which includes ponds, waterways and mature woodland.

    Oddfellows Hotels already own a successful boutique hotel in Chester and have been on the lookout for a sister hotel for over a year. The boutique hotel group sought a property with charm, character and, most importantly, a story that could capture a guest’s imagination.

    Tim Groom, director, Tim Groom Architects said:  “Getting the approval has been a great team effort from all involved. The hotel will be a fabulous addition to the Park and will become a real destination. It’s a fantastic opportunity for us to demonstrate what we can do with existing buildings and we’re looking forward to starting the detail design and getting the building open. It’s the first of many projects we are looking at working with in collaboration with SpaceInvader Design.”

    Jonathan Slater, Oddfellows Hotels said: “We are truly excited about the process of sympathetically converting beautiful Bruntwood Hall.  As with our Chester hotel, the focus will be on restoring the building’s original features, keeping a true sense of history and incorporating the signature touch of playful design that characterises an Oddfellows hotel.  Tim Groom Architects and SpaceInvader designers, both home grown Manchester firms, are part of the team involved in the project.

    “Demand has been very high for our Chester hotel and our guests are always asking if we have any other locations, so as a business, we feel this is the right time to grow and evolve. We are just thrilled to be able to add Bruntwood Hall, which will be known as Oddfellows on the Park, to the family.”

    The announcement was featured in Manchester Evening News, Place North West, Insider and the Businessdesk.

  2. M20 Group sells Manchester buildings to Boultbee Brooks Real Estate

    M20 Property Group has announced it has sold three key city centre buildings to London based real estate investor and developer Boultbee Brooks Real Estate (BBRE) in deal worth £16 million.

    OBI Property advised M20 on the off market disposal of 67-75 Mosley Street, 79 Mosley Street and Castlefield Chapel, the total size of all three buildings is approximately 90,000 sq ft.  The two buildings on Mosley Street will be transformed by BBRE into new work space and will significantly add to the rapidly changing offer in St Peter’s Square.  Boutique law firm, Pannone Corporate Solicitors occupy the Grade II Listed Castlefield Chapel.

    M20 Property, owned by Peter Quinn, Matthew Stone and Nils Wager was established in 2008 and has been particularly active in the acquisition of challenging buildings.

    Matthew Stone said: “We are pleased that the tenacity of our extremely knowledgeable team combined with our strong cash position has enabled us to strategically identify assets where we can add value and maximise our position and we exit these assets at a point that exceeds our targeted returns.  We are now focused on new opportunities to add to our existing portfolio and reach our target of £100 million of assets by 2018.”

    Andrew Cowell, transactions and asset management, OBI Property said: “We take great pride on how we look after our clients buildings and although we were very close to pushing the button on the refurbishment projects of the two Mosley Street buildings, this off market approach enabled M20 to maximise returns in a short period of time and to now focus on new opportunities.  OBI Property specialise in converting off market transactions and we are delighted with the end result”.

    The deal takes the total investment this year by BBRE into the Manchester city office market to £28 million.  BBRE is a privately owned property company with a development and investment portfolio valued at approximately £350 million.  The company, which is a major landlord in the Shoreditch and Clerkenwell areas of London where many of its tenants are fast growing digital and creative firms, also recently purchased 30 Brown Street and Croxley House in Manchester.

    James Whitcher, BBRE said: “We are delighted to have acquired some of the most exciting refurbishment opportunities available in Manchester and the portfolio fits perfectly with 30 Brown Street and Croxley House.  We now have a critical mass of assets in the city to replicate our London model and become one of the city’s most successful providers of quality workspace.”

    BBRE was advised by Rob Cannock at Aurum Real Estate.  Legal advice was provided by Darren Hamer of DWF who advised M20 and BBRE were represented by Michelmores.

    OBI Property was set up in 2010 and is a commercial real estate firm which provides innovative solutions to its landlord and occupier clients.

    The news was featured in Property Week, The Businessdesk, Manchester Evening News, Place North West and Insider.

  3. OBI Property appointed to refurbish 30 Brown Street

    Boultbee Brooks Real Estate (BBRE), the UK based real estate investor/developer who recently purchased 30 Brown Street, Manchester for £6.5 million, has announced OBI Property has been appointed to lead the comprehensive refurbishment of the building.

    BBRE intends to completely remodel the building including new open services, a new façade and an additional floor to increase the net internal area to 48,000 sq ft.  A planning application will be submitted by the end of the summer. Once complete the building will comprise retail/leisure units on the ground floor, with offices on the floors above.

    Andrew Cowell, who works in the Transactions and Asset Management team at OBI Property said:  “BBRE is a significant and successful owner and developer of some of the most exciting and innovative workspaces in London’s City fringe and other key markets.  It is testament to the dynamism of Manchester’s office market that the firm is looking to make major investments in the city.  We are really excited to be delivering a stunning Grade A specification in a sophisticated, design-led fashion.”

    BBRE is a privately owned property company with a development and investment portfolio valued at approximately £350 million.  The company, which is a major landlord in the Shoreditch and Clerkenwell areas of London where many of its tenants are fast growing digital and creative firms, also recently purchased Croxley House in Manchester.

    Dominic Horridge, Director, OBI Property said:  “We are delighted BBRE have appointed OBI to project manage the remodelling of the building.  It has a huge amount of potential and we are looking forward to creating another exciting workspace in the city.”

    OBI Property has assembled the project team which includes PRP Architects, Tier Consult Structural Engineers and REDS as M&E consultants.

    Roger James, Development Director at BBBRE said:  “We have been seeking development opportunities in Manchester for some time. 30 Brown Street provides the perfect opportunity for BBRE and OBI to deliver some of the city’s most impressive and innovative work space.”

    The story was featured in Insider, Manchester Evening News and Place North West.

  4. urbanbubble appointed to manage Trinity PRS scheme

    Manchester based residential property management company urbanbubble announced it has been appointed by FICM Ltd, the property company headed by Fred Done, to provide the management for Trinity, a new PRS (private rented sector) development of 380 apartments and townhouses at the junction of Trinity Way and Blackfriars, Salford.

    It is the first appointment for urbanbubble on a development of this kind, whereby there is a single asset owner along with a single Asset Manager. With thousands of PRS new homes in the pipeline in Manchester, the company sees PRS as a major opportunity.  The homes at Trinity will be ready for occupation by January 2018 and the meantime, urbanbubble will work closely with FICM Ltd to develop a robust, efficient and above all, resident focused management strategy for the development.

    Michael Howard, managing director, urbanbubble said:  “I am thrilled to be working with FICM on Trinity, it will be one of the first, true PRS schemes built and will be a huge benchmark for other developments to follow.  At urbanbubble we’ve been working very hard over the past few years to understand the specific challenges and requirements involved in managing PRS schemes, there’s essentially two customers – the asset owner and the residents, and it’s how we look after them, and their homes which will be the makings of a successful PRS development.”

    Simon Ismail, director, FICM said:  “urbanbubble’s approach really impressed us, they have a great reputation with the management of their existing portfolio.  They understand the difference between tenants and customers.  With our PRS schemes we offer much more than just an apartment.”

    Designed by 5plus Architects, Trinity includes a range of one, two and three-bedroom apartments and seven townhouses.  The grade II-listed Black Friars pub will form a distinctive entrance to the development and is integral to the design.

    urbanbubble recently announced its trading results to year end March 2015 which showed a 62% rise in turnover to £1.7 million (£1.04 million to year end 2014) and operating profit increased from £110,000 (2014) to £213, 500.

    The results are underpinned by an organic pipeline of new instructions which averaged at 400 new homes a quarter between 2012 and 2014.  The company manages over 6000 homes, equating to 8500 residents, across 90 developments in Manchester and Salford.

    urbanbubble was set up in 2008 by Michael Howard.  Based in Manchester’s Northern Quarter, the company provides a range of services to developers, landlords and residents, with the principle aim of ensuring residential developments are managed and maintained to the highest standards.

    The news was featured in the Manchester Evening News, Place North West and the Businessdesk 

  5. urbanbubble turnover hits £1.7 million

    Manchester based residential property management company urbanbubble announced its trading results to year end March 2015 which show a 62% rise in turnover to £1.7 million (£1.04 million to year end 2014) and operating profit increased from £110,000 (2014) to £213, 500.

    The results are underpinned by an organic pipeline of new instructions which averaged at 400 new homes a quarter between 2012 and 2014.  The company manages over 6000 homes, equating to 8500 residents, across 90 developments in Manchester and Salford.

    In 2014 urbanbubble strengthen its team by 12 bringing the number of full time employees to 57, and this year the firm is expected to make four senior management appointments.

    There are ambitious plans for the growth of urbanbubble over the next three years and for the past two years the business has been preparing itself – through engaging with investors, developers, architects and funders – to be ready to take on the management of developments built specifically for the Private Rented Sector (PRS).  It has taken time to understand the challenges and opportunities presented by developments owned by a single asset manager and where excellence in service to tenants will be paramount to the success of PRS in Manchester.

    Michael Howard, managing director, urbanbubble said: “Since I started urbanbubble in 2008, we’ve always had strong annual growth but to achieve 50% increase in our turnover from £1 million base is really pleasing and is testament to the hard work put in by the whole team at urbanbubble.

    “The talk of the town is all about the tens of thousands of apartments to be built in the coming years, which will happen and many will be PRS.  So little new stock has been built in the past years and most of our growth has come from established developments where the residents wanted better management and maintenance from their building managers.  We’re preparing now to be ready to take on much, much more as new developments complete in the coming years.

    “Those preparations include a major investment into bespoke software and technology to create a whole new property management system which everyone at urbanbubble will use.  We’ve also been working behind the scenes with the firms and organisations that will deliver many of the PRS developments in Manchester – we all going on the same journey together.

    “We’re moving into a larger office in the autumn which will start a new chapter of growth for us. We will expand the new business team and set ourselves the target of achieving 500 to 700 new homes a quarter, split between new developments and established schemes.

    “We will be launching our new sales and lettings division before the end of the year and we hope to be able to make an announcement about our first appointment to manage a PRS scheme very soon.

    “We expect to hit turnover of £2.5 million by March 2016 and double profits.  As new developments complete and become occupied we expect revenue to climb to £7 million within the next three years, and we expect to double the work force in the next 18 months.”

    The news was featured in the Manchester Evening News, Place North West, The Businessdesk and Insider North West