Cheshire-based property developer Quinta has completed and sold its first development in Altrincham town centre, Bradbury House on Stamford New Road, to PRS investor Lomond Capital.
The developer, working with Stalybridge-based contractor Veni, had converted the upper floors of the building into five flats over 2,800 sq ft, while the ground floor, covering 1,100 sq ft, has been converted to retail space.
Quinta has now sold the development on to Lomond for just over £1.1m, while the ground floor unit has been let to local business Sew Creative, which has taken a 10-year lease.
Lomond Capital, based in Edinburgh, currently has £2.7bn worth of properties under management and owns estate agent Thornley Groves. The group bought sales and letting agent Hallmark Residential in December last year.
The development is Quinta’s first in Altrincham, having been previously focused on housing projects in Cheshire, and the company’s director Alexander Clarke said the company would be looking at more projects in the area.
“Bradbury House is a striking Victorian building and, as our first project in Altrincham, we are delighted with the end result and subsequent demand from our new residential and commercial tenants,” he said.
“Altrincham has undergone a vibrant transformation in recent years; we are proud to be part of the wider regeneration of the town.”
Quinta was advised by Regional Property Solutions on the retail letting, and director Daniel Lee said “Since Altrincham’s regeneration we have seen an increasing number of enquiries for retail space in the town centre, an area which is becoming very popular in particular with independent operators.”