{"id":65459,"date":"2019-10-18T15:26:03","date_gmt":"2019-10-18T14:26:03","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=65459"},"modified":"2019-10-21T07:36:19","modified_gmt":"2019-10-21T06:36:19","slug":"funding-deal-at-cheadle-royal","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/funding-deal-at-cheadle-royal\/65459\/","title":{"rendered":"Muse and Schroders approve funding deal at Cheadle Royal"},"content":{"rendered":"\n

Muse Developments<\/a> has secured a funding deal, as Schroders<\/a> Regional Office Property Unit Trust agrees to acquire a new scheme currently under construction at Cheadle Royal<\/h2>\n

The building is situated in the 67-acre Cheadle Royal business park<\/a> and has an agreement for lease signed to a major occupier on a 15-year lease.<\/p>\n

The undisclosed price paid by Schroders reflects a net initial investment yield of 6%.<\/p>\n

Greater Manchester-based Seddon Construction is now on site until the end of 2020 to deliver the two-storey, self-contained building.<\/p>\n

Tom Webber, senior development surveyor at Muse, said: \u201cThe deal with Schroders is a proud moment for everyone involved, as it highlights investor confidence in our long-term delivery strategy at Cheadle Royal.<\/p>\n

\u201cStockport is experiencing a real period of sustained transformation, and we\u2019re delighted to bring Schroders to the scheme and play our part in the borough\u2019s success.\u201d<\/p>\n

Tom Newman, fund manager at Schroder Real Estate, commented: \u201cthis is now the sixteenth acquisition for the regional office fund and we are delighted to be working with Muse on this exciting development at Cheadle Royal.<\/p>\n

\u201cThis acquisition complements our regional office strategy to acquire good quality real estate let to good covenants. We have an active requirement for regional offices and have in excess of \u00a3100m available for immediate investment.\u201d<\/p>\n

Cheadle Royal Business Park is a \u00a3175m development delivered by Muse. Set in mature parkland close to major transport links such as Manchester Airport, it benefits from access to a range of on-site amenities, including shops, bars, restaurants and health facilities.<\/p>\n

David Meller, cabinet member for economy and regeneration at Stockport Council, added: \u201cWe continue to attract international investors and high calibre businesses to Stockport.<\/p>\n

\u201cAs one of the UK\u2019s best- connected business locations and our reputation for solid economic development, it\u2019s no surprise that we\u2019re attracting big names to the borough.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Muse Developments has secured a funding deal, as Schroders Regional Office Property Unit Trust agrees to acquire a new scheme currently under construction at Cheadle Royal.<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[676,997,579,17747,669],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-65459","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-construction","8":"tag-development","9":"tag-infrastructure","10":"tag-manchester","11":"tag-regeneration"},"acf":[],"yoast_head":"\nMuse and Schroders approve funding deal at Cheadle Royal<\/title>\n<meta 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