Place North West has been acquired by How-Do, a business-to-business media group based in Manchester.
Since its launch in August 2007, Place has been a paid-for subscription website: from now on, the site will be entirely free to access.
Place was launched by journalist Paul Unger with the backing of a group of private investors. Unger will remain as editor and retains a significant minority shareholding in the business.
Place has established itself in just two years among the North West's leading sources of information and news for the region's commercial property and regeneration market. How-Do believes that Place's market-leading regional B2B niche complements How-Do's own publishing objectives.
Since its launch, Place has broken dozens of exclusive news stories and both Unger and How-Do are keen to ensure that this focus on breaking news continues.
How-Do, founded and run by Nick Jaspan, and Place's shareholders believe that How-Do's greater resources, particularly its in-house sales and administrative functions, can enhance Place's established market position while the lifting of the subscription barrier will increase Place's traffic significantly.
Place averaged between 1,500 to 2,000 individual subscribers over the past 12 months.
Legal adviser to the transaction was the Liverpool office of Brabners Chaffe Street. Place was also advised by accountancy firm Sloan & Co. Place was built and continues to be maintained by Rippleffect.