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Respite from North West property gloom as Brabners tie up £10m apartments deal
28/04/2008Signs that the property market is still moving were given a boost after a North West-based investment company snapped up 82 apartments for £10m.
Merseyside Developments (City Wide) Limited acquired the off-plan units, which are spread out over three sites in Trafford and Hulme, Manchester, due to ongoing confidence in the area's regeneration.
The firm plans to sell some of the 82 units on and keep the remainder as part of its expanding portfolio of investment properties.
The deal was completed by solicitor Darren Barwick at Brabners Chaffe Street.
He commented: “A deal of this significance really does prove that it is not as simple as labelling the property market in its entirety as ‘depressed' or ‘buoyant'.
“Certainly, the global credit crunch has had an effect and property prices are stabilising and in some cases falling.
“However, Merseyside Development (City Wide) Ltd's confidence in regenerating areas such as Trafford and Hulme shows that there are still deals to be done, especially for experienced property investment companies with a long-term view.”
For further information contact Darren Barwick at Brabners Chaffe Street on 0151 600 3000
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