Plans for Manchester business park development - commercial mortgages

14 December 2006

Rok development has announced that it has purchased a 34 acre office park development in Wilmslow, Manchester.

According to Stuart Longbottom, director of Rok Development Manchester, the £10 million purchase may benefit property investors, including those with commercial mortgages, helping to meet demand for office space in the region, Property Week reports.

"Demand in the region for high quality office and industrial accommodation continues to be high and our proposals for Wilmslow will offer flexible solutions for businesses looking for a variety of unit sizes, with the option to let or indeed buy their own property," he remarked.

Following the acquisition, the company states that it plans to build a number of new properties to create 200,000 sq ft of commercial space, while demolishing many of the buildings currently on the site.

Investors have spent a significant amount in commercial property in Manchester in 2006, making it the fourth consecutive year total investment has exceeded £1 billion, the Manchester Evening News reports.