2XL assists with the conversion of Manchester warehouse and offices into a multi-unit commercial investment property.
We are delighted to have assisted M & A Properties Ltd with the acquisition of a large property located within the central area of the well-known distribution business hub in Manchester.
The Overbridge Road property was identified by the directors, Mr M A Akram and his son Mr M Azeem as having the potential to become a multi-tenanted building which could accommodate a diverse range of businesses in this thriving area. Mr Akram and Mr Azeem are experienced property investors with extensive knowledge of the locality.
Tim Bamber had previously assisted the family with other projects and was asked to arrange finance for the new venture. The building was acquired in 2018 and then converted into 21 units and 3 offices with completion taking place in Spring 2019. As with any project such as this, there were challenges that needed to be overcome which required 2XL and the directors working very closely together. Once finished the building quickly became fully let to a range of businesses and the directors are delighted with the end result after months of hard work.
Tim Bamber commented “This is a great example of where the involvement of a broker can really assist with getting a facility, surrounded by various issues, across the line. In this case, we were involved from the time the property was identified right through to completion. Throughout the process, we were continually involved with the lender, the borrower’s solicitor and other key parties. I firmly believe that being central to all parties helps enormously “.
The directors said “We are delighted with the end result and the fact that the property became fully let so quickly confirms our initial view that this would be an excellent acquisition. We are delighted that Tim Bamber and 2XL helped us every step of the way and would not hesitate in recommending their services”.