Felling Syndicate sell completed investment for close to £10 million representing a very healthy return on capital invested following steady income for many years. A result to be pleased with.
The appeal by The Secretary of State vs Reading and Woking Councils reverses the decision on affordable homes meaning in principle any scheme under 10 units will be affordable free. This backs up the Governments original intention to increase the supply of new homes as quickly as possible. This clarifies the position on affordables in smaller schemes which has been in limbo for some time and means York will have to reverse its affordable policies, as will most Councils.
The Walk Holgate York; 50 apartments all completed within walking distance of York centre and the railway station.
Two months after completion only 8 remain which proves the quality of the site and development. Members secured a terrific profit on this investment that had been held for many years precisely with this objective in mind at day one
The multi-million pound redevelopment of Felling Shopping Centre, in Gateshead, by Caddick Developments and Helmsley Group is now complete.
Located on Crowhall Lane, the regeneration is now fully complete with ASDA opening it’s doors to join Subway, Boots, Card Factory, Greggs and a local taxi operator who are now all trading on the development.
Caddick Development’s sister company Caddick Construction was responsible for the design and build. Andrew Murray, Managing Director at Caddick Construction, commented “Our team was on site for 15 months, and I’m pleased to confirm the development was completed on time and importantly on budget. We’re really pleased with the finished scheme particularly as it enabled us to demonstrate our vast knowledge and skill in the successful delivery of retail projects”.
Myles Hartley, Managing Director at Caddick Developments, added “The strength of experience in our joint venture team together with the experience of Caddick Construction provides a clear indication of the design and build quality at Felling Shopping Centre. We are hugely excited to have fully completed the development and to see our aspirations for the scheme come to life”.
John Reeves, Chairman of Helmsley Group said “This scheme has been long in the making, there have been many obstacles to overcome in order to get this development progressed and it is great to see the culmination of four years of hard work finally come together with stores opening.”
“We are grateful to Gateshead Council for their assistance in bringing this scheme to fruition, they have worked with us to ensure a successful scheme has been delivered and along with our development partners, Caddick Developments, we are excited to see the impact on Felling High Street that this re-development has the potential to facilitate.”
Commercial Property Monthly
Volume 34, Issue No 2, 2016