News: Langtree Group acquires Rotherham business centres

Langtree Group has acquired the Homes & Communities Agency's (HCA) 49 per cent share in its long-standing Network Space joint venture.

The business was established by the government's Coalfields Task Force in 1999 and now has more than three quarters of a million square feet of high quality industrial and commercial space under management.

The acquisitions include two in Rotherham: the Century Park Network Centre and Vector 31.

Century Park consists of 28 office and workspace units over two phases adjacent to RiDO's Century Business Centre at Manvers.

Vector 31 at Waleswood is part of a successful business park where 162,000 sq ft of industrial space has been created in a range of sizes.

Network Space owns 22 of the SME workspace estates and two business centres across the former coalfields of the north east, north west, Yorkshire and the Midlands.

John Downes, chief executive of the Langtree Group, 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. The product will not change as it's popular and provides the right type of quality accommodation and lease arrangements for SMEs in the current market."

Neil Mortimer, team leader, land & regeneration at the HCA, added: "We are proud of the role Network Space has played in supporting our wider work with local partners to help regenerate former coalfield communities. Helping to restore jobs and promote business was always a priority for these areas and the vehicle has been successful in providing quality workspace."

Network Space website

HCA website

Images: Network Space