The commercial property team at Jackson Lees recently acted on behalf of Morada Property Management Limited (Morada), when purchasing The Stocks Inn pub in Stalybridge, Manchester.
Morada owners, Lisa and Steven Higginbottom plan to turn the unused former pub into high quality community housing in the form of an eight-bedroom rental property for professionals.
This is the fifth property purchased by the company as it seeks to increase the supply of high quality, co-living, sustainable homes in the North West.
Subject to planning permission, Morada intends to convert the 260 sq. m property into eight ensuite bedrooms, with shared kitchen and living space, by February 2024. The properties, which are aimed at professional people, will then be available for short term let, between six months and three years.
As well as door security, each tenant will also benefit from super-fast broadband, a bike store and fixed priced rental to include all bills.
This is Lisa and Steven’s second business. In 2021, the couple sold Green Fingers Landscape Limited after a successful 25 years and have worked with Jackson Lees ever since, who were appointed to manage several post-sale matters and now handle Morada’s property purchases.
Steven Higginbottom of Morada, says: “We recognise that it is not always a popular decision when a local pub is sold to be something else, but we are taking buildings that are no longer viable and breathing new life into the community through high-quality and sustainable housing for professionals.
“The Stalybridge property offers great transport links into Manchester but will also serve many professionals working in the Stalybridge area.
“I’d like to thank Rebecca Emmitt at Jackson Lees, her insights, can-do nature and efficiency are invaluable to us as we look to grow our portfolio.”
Lisa and Steven will manage each property to ensure the personal touch and ensure standards remain high throughout any tenancy.
Rebecca Emmitt, a commercial property solicitor at Jackson Lees, says: “I am delighted to have been able to act on behalf of Lisa and Steven in relation to their purchase of the Stocks Inn and assist them as they seek to grow their portfolio and realise their vision of turning unused buildings into sustainable properties. I look forward to working with them on many more.”
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The firm’s corporate clients now include: Andy Bell, founder of investment platform AJ Bell, Warrington-based engineering firm Denholm Rees & O’Donnell, Central Liverpool Credit Union, Manchester-based marketing agency Flowd, Birkenhead start-up Gets Property and Accrington-based garden manufacturer, The Garden Village.
The team has also increased from six to eleven in the last year and now comprises Andrew Leakey and Rebecca Zaidi-Lowe (commercial and civil litigation), Jen Goodwin and Charlotte Mills (corporate and commercial), Hannah Dowd (employment), Rachel Evans and Gordon Irving (private immigration and visas), Victoria Evans, Rebecca Emmitt, Megan Cockcroft and Jasmin Trafford (commercial property).
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