Announcement for the purchase of a new property in the North West of England
Monday, May 08, 2006
Announcement for the purchase of a new property in the North West of England
Your Space plc is pleased to announce that it has exchanged contracts to purchase the freehold interest at Heywoods Building, 5 Brunswick Street, Liverpool, for £2,125,000.
The acquisition is due to complete in June 2006 and will be funded from existing resources and debt finance.
The building is situated within the heart of the city’s commercial centre and close to the Grosvenor estates £900million Liverpool One development.
The property has a net internal floor area circa 13,600 sq ft and comprises an imposing attractive period style Grade II listed building that requires restoration works, which will be managed by our in house project management team.
The company’s policy for refurbishment and restoration work is firmly focused on sustainable development, avoiding the temptation to simply demolish and reinstate. Our in house projects team work within the existing fabric of the building looking to enhance existing features by restoration and attempting not to put undue stress on our natural resources.
There are added commercial benefits in using existing quality materials that are often found in certain Grade II listed buildings, as the cost to restore can at times be much less than to replace, with the added benefit of providing an environment of character in conjunction with modern telecommunications and IT systems, that offers serviced offices of distinction.
Your Space plc is also currently in negotiations, which may lead to further purchases of Grade II listed buildings that require specialist restoration work and are suitable for use as serviced offices.
Further announcements will be made in due course.
Shaun Mealey 01695 555 173
Chief Executive officer- Your Space plc
Richard Hughes 0161 831 1512
Zeus Capital
