Magnum puts £ 2.5m site on the market
NEWS
Future - CGI of the five-storey student accommodation building proposed for the Middlesbrough site .
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WORDS : PAUL FRASER
Magnum puts £ 2.5m site on the market
A
rare opportunity through Magnum Properties has emerged for potential investors to transform a prominent part of Middlesbrough with an exciting development .
The fast-growing residential and commercial sale and lettings agency on Linthorpe Road has put the £ 2.5m piece of brownfield land at the junction of Marton Road and Borough Road on the market .
Despite previously selling similar development sites , this is the first time Magnum has physically put such a project to the marketplace . in a bid to secure the highest possible price for the client . But there is much more to this opportunity than a substantial sale because the site , measuring 1.1 acres ( 48,552 sq ft ), has the potential to help Middlesbrough become a more attractive place to live .
Magnum ’ s commercial director Aaron Fisher said : “ This is a fantastic chance for an investor or developer to complete a project in a pivotal location in Middlesbrough and we can help them achieve their long-term goals too .
“ The current plans for the site include a five-storey building with 109 bedrooms for student accommodation . Those plans also include a large underground car park , which that and the foundations for the building are already in place .
“ The buyer could also look at doing different things there , subject to planning consent , of course .”
Aaron believes the continued expansion of Teesside University means there is an ongoing demand for student accommodation and this site provides the perfect location for that .
He said : “ The location itself has almost immediate access to the A66 , so for those
140 | Tees Business
Proud - Magnum Properties ’ commercial director Aaron Fisher .
PICTURE : STUART BOULTON
travelling from out of the area it is super easy to get to . It is also literally a few minutes ’ walk from the town centre and the university itself .
“ The public transport links are exactly what you need , meaning you aren ’ t out in the middle of nowhere if you are an international student coming to an unfamiliar area .
“ There is also the wider picture . When you are thinking of city status , which Middlesbrough strives for , we need more buildings going upwards .
“ We need to be able to accommodate more people in nice and comfortable environments that make people want to come back to Middlesbrough to study , work and for recreation .
“ I ’ m a proud Teessider , but I feel everyone wants to go to Leeds or Durham because the general atmosphere in those areas is what Middlesbrough needs . By bringing in international students in their thousands , you will create that atmosphere .”
For more information visit magnumproperties . co . uk
Such projects are helping Magnum continue to grow . As well as Aaron , there are two managers at the HQ on Linthorpe Road and a further six members of staff plus the maintenance team , which is constantly expanding with more vehicles on the road .
As well as securing a sale , Magnum ’ s team will then look to ensure there is a return on investment for the client , and there is a drive to meet the requirements in varying scenarios .
Putting the £ 2.5m brownfield site on the market is on the back of securing contracts that mean Magnum is now acting on behalf of three international corporations – all with different needs in the area .
Aaron said : “ This shows we are fast becoming the go-to agency for expansion and development on Teesside .
“ For example , for one of those corporations , I have acquired a lot of land on their behalf and they are asking us essentially to get the best return for them and we are advising them what should be done with the land .
“ We can guide them on how to achieve the best return on their investment by using our market knowledge . We will suggest by investing in a particular sector that you can get a development done in a certain timeframe ,
“ We will acquire on their behalf , advise them how to get the best return and even help with the tradesmen or complete the development for them . Then , on completion , we will prove the return of investment is there and we prove ourselves at the end of it . We see it right through .”