Bruntwood reports £13m loss
While it never is great to be in the red, the developer noted that its reported pre-tax loss for the year ending 30 September 2025 represented an 82% improvement from the year before.
Bruntwood Group issued its annual report on Tuesday, reporting an operating profit of £18.6m. The group added that its portfolio (including wholly owned properties and those in joint ventures) was now worth £1.9bn – and increase of £1m from the year ending September 2024.
Explaining the pre-tax loss of £12.9m, the Manchester-headquartered developer cited a £21.5m share in joint venture losses due to development write-downs, higher build costs, and market volatility. The company had reported a £73.7m loss the previous year.
Bruntwood’s joint venture with L&G and Manchester Pension Fund, Bruntwood SciTech, continued to grow its portfolio. Bruntwood SciTech completed on projects with a cumulative gross development value of £245m. This included No3 Circle Square and Citylabs 4.0, both in Manchester, as well as West Village in Leeds and No1 Birmingham Health Innovation Campus.
Bruntwood SciTech invested £156m into its 5.8m sq ft portfolio during the fiscal year. The portfolio is valued at £1.6bn. The company hopes to grow that to £5bn by 2033.
Remarking on the results, Bruntwood and Bruntwood SciTech chief executive Chris Oglesby said: “2025 has been a pivotal year for Bruntwood, characterised by strong operational execution and strategic investments positioning us for sustainable long-term growth. Despite navigating a complex global economic landscape, our core business units have demonstrated resilience and adaptability.”
He continued: “In the office sector, it has been a tale of two halves. While capital markets have faced significant headwinds with yield-driven valuation reductions of around 35% across the wider market over the last two-and-a-half years, occupational markets have been incredibly strong.
“Rental growth is at levels I haven’t seen in my 35 years working across our city regions, and businesses increasingly recognise the value of quality workspace in driving productivity.”
Oglesby also touched on the regeneration work the companies are doing as part of joint ventures with Trafford Council and Bury Council.
“Our investment in our wholly owned portfolio and joint ventures reflect our conviction that for cities to thrive, they need a network of thriving towns,” he said.
“The opening of King Street in Stretford and continued progress at Stamford Quarter demonstrate our commitment to consultation-led regeneration that delivers lasting benefit for local communities.”
Oglesby concluded: “Looking ahead, we are well-positioned to capitalise on emerging opportunities. We end the year with a strong balance sheet, diversified revenue streams and a commitment to innovation – all of which provide a solid foundation for future growth.”
A few highlights from Bruntwood for the year ending September 2025:
- Nearly 900,000 sq ft of lettings completed across its wholly owned and JV portfolio
- £6.2m invested in wholly owned, £240m Bruntwood Places portfolio of workspace
- £9m invested in its £84m portfolio of town centre regeneration projects with Trafford Council and Bury
- Refurbishment of Exchange Court in Liverpool completed
- £1.2m revamp of Landmark House in Cheadle completed
- King Street and Pinnington Lane opened in Stretford with new openings following suite as part of Bruntwood’s joint venture with Trafford Council for the town
- Stamford Quarter in Altrincham saw 4.5m visitors in 2025, and increase of 14% from the year before. Plus various lettings: Oliver Bonas, Crew Clothing, Rituals
- More than £203m of social value generated through local spend, employment, and charitable donations – as well as the Bruntwood Prize for Playwriting
