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Langtree takes control of Network Space business park portfolio

wantspacegotspace.co.uk - Langtree, network space - Allerton Bywater Networkcentre Letchmire Road (off Station Rd) Allerton Bywater Castleford WF10 2DBDevelopment and investment group Langtree has taken control of 22 business property sites in the Midlands and the north after buying out its 'Network Space' partner.

Network Space was launched in 1999 as a joint venture between Langtree and the Homes and Communities Agency which had a 49 per cent share.

The JV was founded by the 'Coalfields Task Force' to stimulate the regeneration of communities in the former English coalfields regions.

It now has more than three-quarters-of-a-million sq ft of industrial and commercial space under management.

Among the properties in the 22-strong portfolio are i2 Mansfield and Keys Business Village in Hednesford.

Langtree group chief executive John Downes said: "It's been a big success. Our original intention was to develop half a million square feet of space but the concept and the product have proven so popular that we've exceeded that by some margin.

"It was always the stated intention that we'd take full control once our development objectives had been met."

Almost 2,000 staff work in more than 300 businesses across the portfolio. Full terms of the deal were not disclosed.

Posted by The Editor (wantspacegotspace) on 27th November 2012

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