Fri, 03 Jun 2011 | DIVISION SALE
An Irish asset management agency is to work with proposed developers on a 115-acre development site in the Tees Valley, to try to raise the value of the land prior to it being sold on.
The National Asset Management Agency (NAMA) is working to raise the value of the Allens West Logistics Centre, which is being sold due to its holding company, JG Eaglescliffe, having gone into administration last year. NAMA is said to have brought on board David Mitchell’s Manse and developer Chris Musgrave to "work out" the industrial estate, rather than go for a sale at its current value.
The intention is to improve the planning position of the site, which currently has consent for 500 homes to be built on the site, as well as 200,000 square feet of industrial space. NAMA's partners will be charged with the tasks of asset managing the site, improving the planning consent and, ultimately, finding a residential developer to buy it for up to £25m.
Industry publication, Property Week, said that NAMA could push for a sale during the next 24 months, having given itself a deadline to wind up its UK operations within the next two years. The company does, however, have a significant number of assets in the UK – particularly in London and the south-east – to deal with first.
The company is an independent environmental consultancy that addresses groundwater and surface water management for clients within the UK.
Maintaining a fully stocked warehouse, the company provides a wide range of oak stair parts, mouldings, joinery parts, doors and flooring.Products can be designed and manufactured in-house to bespoke client requirements.
The company is a reputable provider of temporary and permanent office staff, serving West London and the surrounding regions, with placements ranging from entry roles to managing directors.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.