Property business Bluemantle has added to its war chest ahead of a multi-million investment in Manchester’s Airport City enterprise zone and further acquisitions in the north west. Alderley Edge-based Bluemantle, which is controlled by father and son Jim and Mark Cauldwell, spent the summer boosting its balance sheet with a series of sales. Today, the firm announced the £8m sale of a 13-acre site in Disley to Persimmon Homes.
Mark Caldwell, chief executive at Bluemantle, said:
“This is the second deal we have secured with a north west house builder in the last few months and another positive move for Bluemantle.
We are now actively moving forward with new residential projects and other major mixed- use schemes, and the market should expect further significant announcements from us soon.”
Manchester-based HOW Planning and architectural firm GA Studio advised Bluemantle.
The sale adds to a growing cash pile intended to help develop sites near Manchester Airport.
Last week, Alderley Edge-based Bluemantle bought the 210,000 sq ft Roundthorn industrial estate in Wythenshawe in a £6.85m joint venture with Columbus Capital.
Roundthorn was sold by DTZ on behalf of Greater Manchester Pension Fund. Savills acted for Columbus Capital.
In July, Bluemantle and its partners in the Manchester Medipark Alliance announced they would press ahead with plans for a 200-acre medical business park at Davenport Green.
A source close to Bluemantle said:
“Now they are gearing up for some serious acquisitions which will be announced in the next month or so. They are just refocusing on their prioritised schemes – in particular Roundthorn.”
The deals come as progress at Airport City gathers speed.
Manchester Airports Group has submitted plans for the development of a £100m ‘World Logistics Hub’ in the southern part of the enterprise zone.