Sunday, July 21, 2024

Property developer makes raft of acquisitions

Midlands-based property developer and asset manager, Rotherhill Developments, has made a number of acquisitions in the first half of 2024.

Sites purchased include industrial premises across Nottinghamshire, Rugby, King’s Lynn, Barnsley and Leicestershire; the acquisitions have been opportunistic, and have broadened the geographical reach of the business.

Of the six sites, five are income producing with short to mid-term lease events and present Rotherhill with asset management opportunities.

The premises in Rugby are currently vacant. Rotherhill have now placed a build contract in excess of £1m to future-proof the premises.

Commenting on the first six months of the year, owner, Paul Bagshaw said: “It’s been a busy period for us having recruited Stuart Waite from Commercial Property Partners, promoting Ed Jeffrey to Director in recognition of all his hard work over the last five years, and in addition, managing to acquire six assets totalling some £15m with our long-standing partners and funders.

“The assets purchased have widened our geographical spread from King’s Lynn to Yorkshire and the lot sizes have been in our traditional ‘sweet spot’ of £1m to £5m.”

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