Prospero, Ansty Launches
Manse and Opus Land join forces in £250m joint venture with Rolls-Royce to promote 2,000,000 sq ft industrial site in The Golden Triangle
Manse and Opus Land, two leading property development companies have been successfully appointed by the Aerospace giant Rolls-Royce to lead the marketing and disposal of one their historical sites in Ansty, in Coventry.
The total GDV of the project will be in the excess of £250m and will deliver in excess of 2m sq. ft. industrial and logistical development.
The site comprises approaching 200 acres of land located adjacent to the established technology park Ansty Park, which has direct access to the M6 / M69 junction in Coventry. The site has a deep rooted history most prominently it was the site which saw the development of the UK’s first rocket, Blue Streak and where the jet engines for the only British launched satellite in 1971, Prospero were manufactured.
The opportunity was sourced off-market via Scotland based, property company Manse who has formed a long term strategic relationship with Rolls Royce and has joined forces with Opus Land, its sister company through their mutual partnership with Palmer Capital to deliver this outstanding development.
David Mitchell, Managing Partner of Manse LLP commented,
“Having successfully gained planning permission and delivered sales for Rolls-Royce on the company’s site in East Kilbride, this appointment is an excellent opportunity to work with them again on a site of such national significance.”
Richard Smith, Joint Managing Director of Opus Land commented,
“This site represents a unique opportunity to bring economic benefits of a significant scale to the region and is set to become one of the most important redevelopment sites in the Midlands.
“It enjoys a location and scale capable of accommodating a range of occupiers with the ability to provide a single building of more than 500,000 sq. ft. The redevelopment of this brownfield site has the potential to create thousands of new jobs and generate new business rates as well as helping to safeguard green belt land that might otherwise be released to meet pent up demand in the industrial sector.”
The site is one of the most viable and deliverable development opportunities in the region and builds on the success of neighbouring Ansty Park already home to MTC, Fanuc, London Taxi Company and Sainsbury’s. Major occupiers based within a short distance of the site include Jaguar Land Rover, UK Mail and Network Rail.
Rolls-Royce will be retaining a key manufacturing facility on the site, producing fan cases for its large civil aero engines.
NOTES TO EDITOR:
Manse LLP is a privately owned property company based in Edinburgh. It specialises in Investment, Development and Asset Management of commercial property throughout the UK, with specific knowledge of Scotland and North of England.
Manse currently owns and manages over 1.2 million sq. ft. of accommodation with an end value of approximately £135m
Opus Land is a leading UK property development and investment company with offices in the West Midlands and London. Founded in 1999 and part owned and funded by Palmer Capital, the company has an established track record in delivering added-value solutions for real estate. The company has extensive experience of working in partnership with landowners, investors and occupiers with assets under management and a development pipeline approaching 3 million sq. ft.
Opus Land’s attitude to professionalism, innovation and hard work ensures that we retain a strong reputation across the property industry.
Palmer Capital is a boutique real estate investment management company with >£760m of AUM (as at 31st March 2017. Founded in 1992, the company is privately owned and has c. 25 years of experience in direct real estate.
The business has two distinct divisions – minority share holdings in property asset and development management companies (Asset Management Platform) and the fund management of pooled or segregated property vehicles (Funds Management Platform). These complementary activities provide Palmer Capital with the advantage of being able to source and execute property transactions from the Asset Management Platform and to fund and structure these with the investors whose capital it manages in its Fund Management Platform, or utilising equity from its own balance sheet
The Prospero satellite, also known as the X-3, was launched by the United Kingdom in 1971. It was designed to undertake a series of experiments to study the effects of space environment on communications satellites and remained operational until 1973, after which it was contacted annually for over twenty-five years. Prospero was the first British satellite to have been launched successfully by a British rocket.
Prospero was built by the Royal Aircraft Establishment in Farnborough. Initially called Puck, it was designed to conduct experiments to test the technologies necessary for communication satellites, such as solar cells, telemetry and power systems.