News
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PNFT Sells Portfolio for £58m
The Pervaiz Naviede Family Trust (PNFT) has today announced the sale of a residential property portfolio to Grainger plc in a deal worth £58.3m. The acquisition includes 614 apartments and townhouses from across the UK as the Trust seeks to move into premium commercial and residential markets. Since 2009 the Pervaiz Naviede Family Trust has expanded its private rented sector (PRS) portfolio to more than 1,000 units. This has been [...]
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Stamp Duty Overhaul Welcomed
Chancellor George Osborne surprised many during yesterday’s Autumn Statement by announcing an overhaul of Stamp Duty, a move which is estimated to benefit up to 98% of home buyers. Previously, Stamp Duty Land Tax (SDLT) was payable by the majority of people purchasing a residential property in the UK. The amount charged varied depending on the purchase price of the property so a home bought for £125,000 was exempt from [...]
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Planning Setback for £100m Mobberley Scheme
Multi-million pound proposals which would have safeguarded up to 200 jobs in Cheshire have been set back after being turned down by council planners. Regeneration specialist LPC Living proposed to invest up to £100m in the iconic Ilford Photo site in Mobberley which has produced black and white photographic products for more than a century. The main focus of the scheme was the creation of a state-of-the-art HQ for existing [...]
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Ordsall Residents: Have Your Say!
Proposals to redevelop a brownfield site in Ordsall, Salford are to be unveiled to the community in advance a series of wider consultation events taking place later this month. LPC Living, the developer owned by the Pervaiz Naviede Family Trust, has drawn up plans for the former District Centre site in the estate where it is committed to investing around £100m, in partnership with Salford City Council. As recently reported [...]
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Radclyffe Park bucks regional trend with new commercial lettings
LPC Living’s Radclyffe Park development in Salford is going against the North West trend for increasing shop vacancy rates after welcoming three new tenants to the mixed-use development at Trafford Road. Developer LPC Living, owned by the Pervaiz Naviede Family Trust, has recently signed up: – International courier and delivery service provider, Pack & Send Takeaway restaurant Food Station and A hair and beauty salon at the scheme in Ordsall. [...]
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Pervaiz Naviede Family Trust-Owned Mr Smiths to ‘Become UK’s Biggest Youth Club’
An iconic nightclub, immortalised in the ITV show Hitman & Her is set to be transformed into one of the country’s largest youth clubs after a deal was agreed with the owners, the Pervaiz Naviede Family Trust. Warrington’s iconic Mr Smith’s nightclub had been earmarked for demolition earlier this year after several years of marketing the property produced limited interest. The owners stated their decision to clear the site was not made easily [...]
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House Prices to Increase 30% by 2019
UK house prices could increase by an average of more than 30% in the next five years according to according to a study by property portal Rightmove – adding further pressure to first-time buyers. Perhaps unsurprisingly the report suggested the largest increases would be in the South East with an anticipated rise in values of 37.3% with Southampton, Luton and Brighton identified as the top three property hotspots. Values in [...]
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Plans to be Revealed for Ordsall Site
Proposals for a key site in Salford are anticipated to be revealed next month by LPC Living, the developer owned by the Pervaiz Naviede Family Trust. Ordsall’s District Centre sits at the heart of the 180-acre estate and for a time was a thriving retail and leisure centre when it was originally constructed in the 1960s boasting a shopping parade, convenience store, pub, library and other community facilities. However, in [...]
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Tory Plan for Affordable Homes Cautiously Welcomed by Pervaiz Naviede Family Trust’s Developer
A Conservative Party pledge to help 100,000 first-time buyers has been cautiously welcomed by LPC Living, the developer owned by the Pervaiz Naviede Family Trust. The initiative, to be implemented should the party be re-elected next year, would allow those looking to climb the first rung of the property ladder to buy a new home at just 80% of the market value. It is proposed this can be made possible [...]
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Ordsall War Memorial Comes Home This Weekend
Veterans with links to the Ordsall estate and their families are being invited to a ceremony commemorating the centenary of the First World War, and the vital role played by Salford residents. The highlight of the event, which takes place this Saturday, will be a rededication of the Regent Park Memorial which was first erected in 1918. Following a spate of vandalism in the 1970s the sandstone sculpture was taken [...]