Langtree Property Partners (LPP) has been chosen to manage an £8.5m business incubator in Warrington in the company’s first major deal since its formation in a management buyout.
Regeneration partnership Warrington & Co has appointed LPP to take responsibility for the Advanced Manufacturing and Engineering Incubator Centre (EIC) Warrington following a competitive tender. It is expected that the five-storey, 50,000 sq ft development will eventually house up to 100 high-tech businesses employing up to 400 staff in total.
It comes just weeks after Langtree Property Partners underwent a management buyout led by chief executive John Downes.
The EIC, which is scheduled to take its first new tenants in September 2015, is the first development on the site of Warrington Borough Council’s ambitious Stadium Quarter project. A second project, the £10m University Technical College Warrington, is due to start onsite later in the year.
The two schemes are designed to be complementary and will be next to one other on Dallam Lane in the centre of the town.