South Rings – Plot 5000 – Site Acquired
July 22, 2014
Having secured planning permission at the end of April as part of a conditional agreement to acquire Plot 5000, Places for People have now successfully completed the acquisition of the site which was acquired from Muse Developments Limited. Eckersley advised Places for People on the purchase and negotiated terms on their behalf. The transaction was not an altogether straight forward, as it involved reaching an agreement with Muse to acquire the site on a conditional basis due to planning complexities associated with other development proposals on the South Rings Business Park. The site’s acquisition is significant for Places for People, as it secures neighbouring land for the expansion of their business operations to include scope for new offices, industrial workshop facilities and through an operational sister company a site for a gymnasium leisure facility.
Places for People are one of the UK’s largest property management, development and regeneration companies. They either own or manage over 148,000 houses and have assets worth in excess of £3 billion.