Barnfield Construction Ltd are pleased to announce that they have teamed up with Real Estate Development Partnerships Ltd to form a Joint Venture company which will focus upon the delivery of mixed use developments.
Barnfield have united with Real Estate Development Partnerships, who have offices in Manchester and London, with the aim of targeting developments nationally with good opportunities for pre-letting and sales. Real Estate DP specialise in the delivery of complex mixed use development with specific partners.
The JV Company, Barnfield Real Estate Partnership Ltd, has agreed to purchase the Former Greenwood Arms Public House in Horwich with work set to commence later this year.
Morrisons have already signed up as the retail anchor to the scheme and Tim Webber, Managing Director of Barnfield stated:
“We are pleased to be joint developer and funder of this exciting development and we are hopeful that it is the first in a long line of projects which we can deliver in partnership with Real Estate DP”.
Morrisons will occupy a 4,200 sq.ft. unit for their M Local format. The retail parade will also provide three additional units which are currently under offer to both regional and national operators. The scheme includes 3 one bedroom apartments as well as 13 new 3 & 4 bed homes. Simon Gallanders, Development Surveyor, of Real Estate DP commented:
“We are delighted to be in partnership with Barnfield. Their knowledge and expertise in the construction arena is second to none and we are optimistic that our combined experience in delivering a variety of developments over a number of years will serve us well in this new venture. The fact that Barnfield have a dedicated homes division means that we have the ability to look at a variety of opportunities, incorporating a mixture of uses”.
The positive progress which has been made on the project means construction will be commencing later this year. A phased completion will see the commercial element concluded in January 2015 with the residential units being available from Summer 2015 onwards.
It is anticipated that the construction work will generate more than 40 roles for local contractors and once complete the retail development will generate up to 45 jobs.