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Bournemouth AFC player, Chris Mepham, alongside Performance Property Group (PPG), has purchased an 11,000 sq ft apartment building in Edgeley, as the strong property market in Stockport continues to attract outside investment.
PPG is an investment business, established by investor Jay Puddy and former Wales international and Stockport County player Christian Ribeiro, which partners with professional footballers to build an income stream outside of sport through property investment.
In a £1.36 million deal, PPG and Chris Mepham have acquired Windsors on Castle Street in Edgeley, an 11,000 sq ft property comprising 14 apartments, five garages and two ground floor commercial units, all with tenants already in place. The deal is a further sign of the strength of the property market in Stockport and follows a Sunday Times article highlighting the town as one of the UK’s best places to invest.
Chris Ribeiro of Performance Property Group said:
“This is one of our strategies to help grow significant portfolios for our players, whilst also being as hands-free as possible for them whilst they are still playing football every day. This is the start of numerous purchases that will help to secure the financial future of our team of football players in anticipation of their inevitable retirement from the beautiful game.”
Jay Puddy added:
“This deal is one of our largest standalone purchases since launching but we hope to beat that record in the coming months with the exciting pipeline that we have created. We are working incredibly hard to help our footballers grow their property portfolios alongside our own and we love supporting the players with our bespoke hands-free service. Our players can see the huge value of owning these assets for the long-term to help secure their financial futures for the inevitable day that football retires them. We have made a series of acquisitions in Stockport and South Manchester to date and those areas will continue to be a focus for us as we target further projects.”
PPG were advised in the purchase by the Real Estate team at Manchester’s JMW Solicitors. Julian Rogozinski, Partner at the firm, said:
“We’re pleased to have been able to support Performance Property Group on this latest deal; another strong long-term investment opportunity. The building provides affordable private rental property that is high-quality, safe, secure and well-located. We look forward to working with the team as its residential property portfolio continues to expand.”