One Heritage buys second Stockport site
The listed developer behind plans for Salford’s tallest tower has acquired Seaton House on Wellington Street from a private investor.
One Heritage paid £670,000 for Seaton House and plans to convert the office block into 30 apartments under permitted development rights.
The developer is working with Day Architectural to draw up plans for the project.
The previous owner won consent for the building’s conversion into 12 apartments but One Heritage is plotting more than double that number of units, a scheme with an estimated GDV of £5.6m.
Following planning approval, construction will take 12 months. Completion is scheduled for Q4 2023, the developer said.
Seaton House is One Heritage’s second Stockport venture.
The company is redeveloping 57 St Petersgate into 18 apartments.
Other development opportunities in the area include Petersgate House, which is on the market for £1.7m, and the headquarters of estate agent Edward Mellor, which could be redeveloped into 250 apartments across three towers.
Jason Upton, chief executive of One Heritage Group, said: “I am delighted to secure our second acquisition in the heart of Stockport. Our existing St Petersgate development, scheduled to complete at the end of this year, is only a short walk away.
“Stockport is seeing significant investment and could outperform against the broader property market due to its excellent connectivity to both London and Manchester via train, its proximity to Manchester Airport, and its access to the Peak District.”
Outside of Stockport, One Heritage is preparing to start construction of the 55-storey One Heritage Tower in Salford’s Greengate neighbourhood.
The developer appointed contractor Midgard to build the skyscraper last year, as reported by Place North West.