Eastbank Phase 5
Ancoats
October 2012
Grasscroft engaged by Peel Holdings/Manchester Ship Canal Developments to complete phase 5 of the Eastbank development.
Eastbank Phase 5 was a scheme that was originally being developed as a joint venture by Manchester Ship Canal Developments and Artisan Holdings. During the 2007 recession, Artisan’s construction company went into administration and the part constructed project stalled. In 2010 Grasscroft were engaged by Manchester Ship Canal Development to develop and complete the project. Services provided by Grasscroft with regard to this matter included the following:
- Exit from joint venture from Artisan Holdings
- Restructuring of funding with banks and HCA
- Releasing capital from assets held on previous phases
- Completion of design
- Engagement and management of construction process
- Sales and marketing of completed units
- Lettings of some units
- Perusing value added initiatives
