three60 acquires Vista
and Lingley Mere developments
12 December 2006
three60 Property Investors Ltd has purchased the Vista development at St David’s Park, Flintshire for £6.2m and a two–storey office building at Lingley Mere Business Park, Warrington for £2.75m.
The Vista building provides 30,491 square feet of quality office accommodation in an area that has previously suffered from an under–supply of suitable office space. The Redrow development is ideally situated for access to North Wales, Chester, Liverpool and Manchester and is tenanted by Welsh Water and HSBC. The development creates new jobs and business opportunities in an area undergoing economic regeneration.
Lingley Mere Business Park is a joint venture between AMEC and United Utilities. Currently on site, the new development is due to complete in February 2007 and will provide 11,246 square feet of office space. The development lies within landscaped grounds, specifically designed to increase biodiversity. Located North of Warrington town centre, close to Junction 8 of the M62, Lingley Mere is conveniently located for access to transport links and business amenities.
Paul Patterson, three60 Managing Director, told us: "We’re delighted to have acquired these two first–class developments. Both Vista and Building 1300, at Lingley Mere Business Park, provide quality office accommodation in excellent surroundings and in prime business locations. These acquisitions are part of our growth ambitions to build a substantial investment portfolio across the North of England, with a value in excess of £100m."
three60 is a subsidiary of the PLUS Housing Group and delivers commercial property investment and development solutions. Some of the profits from three60’s commercial investment and development activity will be reinvested back into the group’s core social housing business.
three60 operates within the high value residential and commercial property sectors and has established an initial £62.5m fund with financial backing from The Royal Bank of Scotland (RBS). three60 is actively seeking commercial investment opportunities, for further information, please contact Paul Patterson on 0151 708 4644 or e–mail paul.patterson@three60.org.uk