Orbit Developments, through its investment arm North West Portfolio, has expanded its portfolio and commitment to Stockport town centre with the recent purchase of Kingsgate House.
Kingsgate House, on Wellington Road North, becomes Orbit’s 13th property in Stockport and takes its ownership to over 400,000 square feet of commercial space in the town centre alone.
Though well tenanted, the availability within Kingsgate House provides further size options for existing Orbit customers and new businesses to the town. The significant regeneration change taking place across Stockport also provides a location that companies see makes sense for them to choose as a base.
Following a number of sales of Kingsgate in recent years, it will give current and new customers comfort that a local company with an excellent track record have acquired the property, having owned a number of town centre properties since the 1970s.
Orbit is currently engaging with current customers at Kingsgate and is reviewing opportunities for investment into refurbishment to further enhance this significant new addition.
Orbit Developments Leasing Director, Rhys Owen, commented:
The acquisition of Kingsgate House is a major statement and it’s great to finally get control of the building.
“The success we have seen with customers growing and being attracted to Stockport over recent years has been significant in the purchasing decision and this opportunity was one we were keen to take.”
As with the other 12 Orbit properties in the town centre, new and current customers of Kingsgate House will now be eligible for Orbit’s SKone reward scheme, which is specific to its town centre portfolio and offers discounts from over 90 independent retailers and service providers in Stockport.
Orbit Developments’ total portfolio now exceeds 8 million square feet of commercial property in 230 sites across the North West, with 62 in Stockport and surrounding areas in Cheshire.