Beech continues disposal drive with £16.75m portfolio sale
Having put One Cross Street on the market last month, Beech Holdings is now selling three more residential schemes totalling 133 apartments in Salford, Trafford, and Manchester.
Beech has appointed Lambert Smith Hampton to find a buyer for the assets. Bids of £16.75m are being sought for the portfolio but bids for individual lots would be considered.
LSH is also seeking bids of £9m for One Cross Street.
The largest of the three projects in Beech’s Bee Portfolio up for sale is Academy Apartments on Warwick Road in Trafford. The development completed in 2020 and provides 90 studio and one-bedroom apartments aimed at students.
Located close to UA92 and Old Trafford Cricket Ground, the scheme generates a net income of just under £700,000 a year.
In Salford, Beech’s Brookland House is also up for sale. The office-to-resi project completed in 2021 and is located close to Langworthy Metrolink stop.
Last year, Salford City Council refused Beech planning permission to create a 238-unit co-living scheme on land it owns close to Brookland House.
The third building up for sale is Duke Street in Manchester, an 18-apartment development that completed in 2022.
