HSPG founders line up Stretford’s Circle Court for retrofit
The 1960s tower block was sold by L&Q for £4.6m earlier this year.
An SPV run by the owners of Manchester-based HSPG has bought Stretford’s Circle Court using finance provided by Together.
The developer, headed up by Guy Horne and David Searle, plans to refurbish the 16-storey building, creating 30 one-bedroom and 92 two-bedroom luxury apartments in a scheme branded One Trafford Edge.
The development is being advertised off-plan to buy-to-let investors on various agency websites with yields of up to 16% and deposits of £36,700 being touted.
Marketing materials prepared by agency NPP Residential describe One Trafford Edge describe the development as “Manchester’s most coveted new address”.
The advert explains that investors in the scheme would be primed to benefit from large scale projects in the surrounding area, including Manchester United’s plans to redevelop Old Trafford and Therme’s £400m wellbeing resort at Trafford Park.
An HSPG spokesperson said: “Circle Court was purchased by Circle Court SPV, an independent company owned by Guy Horne and David Searle. Circle Court SPV is currently exploring a range of options for the site.
“While no decision has been made yet regarding Circle Court’s future use, Guy and David both remain committed to supporting the delivery of more social and affordable housing across the country through HSPG, a social impact real estate company that they co-founded in 2015, and their registered provider, PPHA.”
Built in the 1960s and located next to Junction 9 of the M60, Circle Court was made up of 121 affordable apartments run by housing provider Trafford Housing Trust.
The group said it would relocate the 176 people who lived at Circle Court in 2022. Since then, THT has been fully absorbed by L&Q, which continued moving residents from the block of flats.
L&Q appointed CBRE to market the property for sale last year.
Ah yes a former tower block next to the M60 is clearly “Manchesters most coveted new address”
By Anonymous
A pity L and Q didn’t hand the cabin as to demolish and develop a higher density scheme of affordable homes
By Anonymous
Everything you need to understand about the reasons behind the housing crisis in a single article!
By Ram Tailor
Thought this was getting demolished?
By Pete
What about the roads around circle court and Mossvale road. There’s huge problems with traffic. No parking for tge local residents across the road from circle court.
By Madeline Cadman
Only time I’ve ever seen the M60 without a single car on it.
By RJM
Circle court is in Stretford
By P Foster
For the record, Circle Court is in Lostock , Stretford.
Can’t believe it wasn’t transformed into an hotel like Trafford Housing Trust and London and Quadrant had us all believe.
By Anonymous
Thanks, Anonymous and P Foster, for letting us know. We have changed the story accordingly.
By Julia Hatmaker
Yet more housing to become too expensive for the average person to afford. Overpriced high-rise shoe boxes right next to a motorway slip road.
By Anonymous
Well said Ram Tailor!
By Anonymous
Please refit and sell cheap for first time buyers please. X
By Mrs frances gratton
we was told it was going to be demolished it’s a complete mess something needs to be done soon it’s bringing the area down build affordable houses for are local people
By C Pitt
Where is the affordable housing this is outrageous
By Lynda Downs
Knock it down – it’s an eyesore
By Anonymous
No amount of re-furbishment is going to make it better. It was an eyesore in the 60’s and remains one. The best option would be to knock it down and build low level affordable housing and apartments for 1st time buyers
By Anonymous
How about reverting back to social housing which is what is needed, not lining landlords pockets while reducing number of social properties
By Ann