Sunday, January 17, 2021

Property company’s new venture makes first acquisition

Yorkshire based In-site Property Solutions has created a new company to invest in projects and organisations that have solutions for societal and environmental problems.

The new venture, The Impact Branch (TIB), has made its first acquisition with a mixed-use industrial site at Bilsthorpe, Nottingham.

Financial returns from this site will be invested “to create positive impact for communities and for the planet.”

On a quoting price of £5m+ for the site, TIB managed to secure a sub sale of part, being the Notts County Council property, which will ultimately be delivered as a separate and direct transaction, meaning TIB will pay just £2.55m for the 272 acres, which include various types of asset.

TIB’s plans on site are to develop out the commercial zoned land (c.17 acres) and add value to the various existing commercial assets. TIB also plan to pursue carbon offsetting and renewable energy opportunities within the site.

Current buildings are fully let, however consented industrial land is available immediately for speculative or design and build opportunities.

Alex Boyle, managing director of In-site and The Impact Branch said: “We are excited to have purchased Bilsthorpe Business Park. It is a mixed-use site. At the moment, there are a whole range of uses – from commercial property through to renewable energy opportunities.

“For now, the site’s commercial tenancies will remain, generating profits to be invested to deliver our Investing for Impact strategy. We are working to develop an impact plan for the site, to change the way we manage the site to continually derive more positive impact from it for people and for our planet.”

Langleys Solicitors LLP acted on behalf of The Impact Branch. Tim Cross, managing partner at Langleys, said: “In-site are using their expertise and resources from within the industrial property market to make a difference, this is beyond giving back.

“There is enormous development potential on the Bilsthorpe site for The Impact Branch. We are delighted to have acted on their behalf on the purchase of this 272 acre site was purchased from Harworth Estates.”

Matthew Halliwell of BHT acted for The Impact Branch.

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