Powell Williams provided acquisition advice for new client, Courts Developments, for two properties in the North West and North Wales.
Courts Developments has experience across all residential and commercial sectors, typically focusing on investments where there is an opportunity to add value, as is the case with 47 Northgate, Chester and 1-2 High Street, Wrexham.
The two city centre properties were identified with potential for conversion of the upper floors to residential apartments, with commercial space at ground floor. The Chester property sits within the Northgate redevelopment.
Our technical due diligence of the properties was carried out during the initial coronavirus lockdown, at a time when many investors had withdrawn from the market.
In providing our TDD service we had regard to the proposed conversions, and were therefore able to structure our advice to ensure the fundamentals of the properties were sound, whilst providing budget cost for the immediate building fabric repairs and high level conversion cost advice. This put us in a great position to take on the project delivery services (project management, contract administration, cost consultancy and Principal Designer), in conjunction with the client’s architect, following the recent completion of the acquisitions.
Martin Hunt, partner in our Chester office said:
“We are delighted to be working with Courts Developments on these properties. Whilst both have a similar brief with regards to conversion, the two buildings are very different indeed, and we are excited to see the results and the positive impact they will bring to the local community.”