Together funds luxury serviced office suites in Alderley Edge

By Bridging Loan Directory 2nd May 2023

Directors of a property investment group are set to open the latest in a line of exclusive co-working and luxury office spaces after securing £1.6 million from Cheadle-based specialist lender Together.

The Colony Group, which has its headquarters in Wilmslow, has bought a 7,000 sq ft office complex in the centre of West Street, Alderley Edge, to add to its portfolio of properties.

The group has major plans to renovate the 1990s-built complex to create a luxury workspace for clients, which will be known as West Street By Colony.

It will complement exclusive By Colony office spaces in Stockport, Knutsford and Goostrey, and the group’s Wilmslow HQ, which can all be used by permanent tenants and members.

Edward Kershaw, co-founder of The Colony, said:

“West Street By Colony will be a fantastic addition to our brand of unique workspaces in accessible locations across Cheshire.

Our new Alderley Edge property will be completely transformed over the next couple of years to bring it up to the same high standards of the other luxury work spaces in our portfolio.”

He said that since coming out of lockdown, executives have become more reluctant to work from home, but don’t want to be struggling through traffic into the city centre each day, with The Colony’s sites offering greater flexibility.

Mr Kershaw said: “Members and tenants will have access to all our high-end properties in various locations around Cheshire and South Manchester.

Many of them take offices in Stockport or Knutsford but will also use The Colony HQ in Wilmslow once or twice a week, to give them the flexibility and use of all the additional high-quality facilities they want.”

Currently, The Colony has its flagship HQ in Wilmslow, consisting of serviced offices, a bar and restaurant, various event spaces and multiple luxury boardrooms, all with striking views over the countryside.

Having worked with Together on previous schemes, Edward approached the finance company to fund his latest project.

He said: “We were impressed by the group’s communication and the relationship we’ve maintained with them going back a few years, so they were the obvious choice when we were looking for the finance to expand our portfolio.”

Ritchie Watson, Corporate Lending Director at Together said:

“We are delighted to have played a part in helping The Colony in the acquisition of this new premises.

Demand for flexible and agile working locations boomed since the pandemic, and stunning, modern additions such as those offered here are perfect for companies and sole traders looking to work flexibly outside the city centre.

This is an excellent example of how fast and flexible finance, as Together offers, can be used to help our customers achieve their property ambitions.”