Bury Council acquires phase 2 at Ask Developments’ Knowsley Place
Date: 13/11/2009
Source: SKV/Bury Council
Bury Council has added to its property portfolio with the acquisition of two buildings from Ask Developments in Phase 2 at Knowsley Place. The £12m investment comprises of an office building, approximately 25,000 sq ft gross, pre-let to Six Town Housing, and a 115-bed Premier Inn hotel, approximately 55,000 sq ft gross, pre-let to Whitbread.
A joint venture between Ask Developments and Bury Council, Knowsley Place is one of three major developments currently taking place in Bury town centre along with Thornfield Developments’ £350m retail and leisure scheme, The Rock, and Property Alliance Group’s Chamberhall office development. The scheme’s four buildings, located opposite the Town Hall, will enhance the already growing range of facilities in the heart of Bury town centre and will offer the public a wide range of services from the local authority, health and housing, all within walking distance of each other.
Work will commence on the two buildings in January 2010, with an expected completion date of April 2011.
Councillor Bob Bibby, Leader of Bury Council, said: "Bury Council has made a strategic decision to acquire the two buildings in Phase 2 of Knowsley Place which will provide a new Premier Inn hotel for the town centre and a brand new office location for Six Town Housing. The acquisition of these buildings into our existing property portfolio is a good investment for the council over the next five years and will bring a much needed hotel to the town centre.
“Buildings 1 and 2 of Phase 1 at Knowsley Place are already taking shape and due to be handed over in mid January. They form just one of the many projects underway, which are changing the heart of the town centre to create a brighter, bolder more ambitious Bury."
David Burkinshaw, Director at Ask Developments, said; “The acquisition of Phase 2 by Bury Council is great news for the development. That all four buildings in Phases 1 and 2 are pre-let is demonstrative of the scheme’s quality and location, and when complete, Knowsley Place will provide Bury with a vibrant new commercial centre. We’re now looking forward to progressing with the final phase of office and residential accommodation at the development.”
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