Categories All Bluefig Investments has revealed the first details of its next residential development. The North West property specialist undertakes both commercial and residential work throughout the region. The company’s next project will be Prestbury Place in Cheshire, which will consist of three three-storey townhouses close to the centre of Prestbury village. Work will begin in January 2019, and is expected to conclude in October later that year. The houses will offer the best in open-plan indoor/outdoor living, taking inspiration from European and Scandinavian designs. Faris Mousa, founder of Bluefig Investments, said: “We are excited to start working on this latest project, which will offer beautiful, contemporary living spaces that will create idyllic family homes.
“Our approach to work is to search far and wide for the best materials in order to build homes that people will fall in love with. Our plans for Prestbury Place include some of the finest construction materials and interior design in the industry today.” Faris and his team draw inspiration from around the world for their designs, learning more about construction techniques, quality materials and eye-catching designs through extensive travels to various countries. Faris launched Bluefig Investments after purchasing an office building in Manchester in 2010. Following a substantial regeneration program, his team breathed new life into the building and returned it to its former glory. The building was soon fully occupied and sold, which inspired Faris to undertake many more property projects in the years since.
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Helical Bar has said that it is ‘definitely looking to buy more in Manchester’ following its acquisition of Dale House, a 42,000 sq ft office in Manchester, for £7.6m. The deal represented a 6.4% yield. The seven-story corner block in the Northern Quarter is multi-let to 12 tenants, at an average passing rent of £12/sq ft, and was sold by private individual Faris Mousa. Dale House is Helical Bar’s second purchase in Manchester in the last year, after the acquisition of the 250,000 sq ft Churchgate & Lee House in 2014 for £34m.
Will Parry, asset management executive, confirmed that the company was ‘definitely looking to buy more in Manchester’ although he said there was no set figure that Helical was looking to spend in the city. “We love the city, and we’re trying to be as active as possible,” he said. “We’re looking at city centre offices, and have also recently added to our industrial portfolio. The Northern Quarter is of interest, it has a Shoreditch feel with lots of interesting older buildings. However we review each asset on a case-by-case basis so are not targeting a particular type of building.” The sale of Dale House is the latest Northern Quarter block to attract investment from major London property companies, after Urban Splash’s Smithfield building in Oldham Street was bought by Kames Capital last September. The Dale House vendor was unrepresented. Adam Roberts of Zaman Roberts advised Helical Bar. Roberts said: “We believe there is a real rental growth story in the Northern Quarter, as the expansion of the city centre is going that way. This purchase was secured in an off-market deal, which we are pleased with as we believe that if the asset had been brought to market it would have been keenly sought after.” |
AuthorFaris Mousa is an entrepreneur based in Manchester who has worked on many residential and commercial projects. Faris Mousa is Director of Bluefig Investments (UK) Limited. It is a property investment and urban regeneration company. The company was incorporated on 2nd December 2014 and has registered offices located at 260 – 268 Chapel Street, Salford, Manchester, M3 5JZ Archives
July 2023
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