Stockport apartment building sold in £4 million transaction

Property developers, Sina Assets, have announced the £3.9 million sale of apartment building on Marriott Street near Stockport College.

Homa House, which comprises 20 one-bedroom and 12 two-bedroom apartments opposite St Thomas’ Church, has been acquired by a housing association.

Close to Stockport Town Centre, the property is just outside the Mayoral Development Corporation’s (MDC) Town Centre West area, that will see the area West of the A6 regenerated to develop the UK’s ‘newest, coolest, greenest’ urban neighbourhood of over 1 million sq ft commercial space and 3,500 new homes. Parts of Stockport College’s campus on the A6 near Homa House is set to become one of the MDC’s flagship neighbourhoods, Royal George Village, due to complete in 2024.

Reza Negarestani, Director at Sina Assets, said:

The need for affordable housing is well documented, so it’s positive to be able to contribute to closing that gap, particularly with such high-quality homes. The apartments have proved very popular, with the building completely let on completion.”

Manchester based solicitors, JMW, advised Sina on the sale of the Stockport apartment building. Ruth McCarthy, Partner and Joint Head of Real Estate Commercial at JMW Solicitors, said:

This is the latest in a string of positive deal announcements for Stockport, and provides much-needed affordable housing stock. There is a huge amount of interest in the town, which will continue to accelerate as the regeneration of Stockport Town Centre West moves forward.”