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New Development Company Launches £125m Residential Programme
A recently formed development company Locksbridge Developments plans to build a multi-million pound residential and mixed used property portfolio by specialising in the re-development of failed schemes left abandoned as a result of the recession.
Local contractor Mayfair Construction is constructing the two phased development that will take 18 months to complete, with the first phase of 46 studio, one bed and two bed apartments due to be ready by July.
Locksbridge Developments is owned by Sheikh Holdings which together with the Sheikh family office has interests and investments in property, care homes, pharmaceuticals, serviced offices, FMCG and financial management. The most well-known amongst these is CareTech Holdings plc a leading UK provider of specialist social care services that has been operating in the care sector for eighteen years.
Headed by MD Akbar Sheikh, Locksbridge has ambitious plans to build a UK wide property development portfolio that will specialise in re-launching schemes that have failed due to the collapse of the previous developer or contractor. Locksbridge aims to develop high quality homes, with a reputable brand name at great value.
Mr Sheikh said: “We are jngy delighted to bring this important local scheme back to the market and that we have re-employed some of the local businesses that were involved in the original project such as Coventry based architects idp Midlands and civil and structural engineering consultancy Couch Consulting.”
The two other schemes that are currently under way include a conversion of a grade II listed Mill in Somerset into 223 homes, which is also a site that halted when the developer went into administration and a second site that is close to the Olympic stadium and will be a mixed use development with in excess of 200 apartments.
Solihull Heights has the backing of the local MP John Hemming and the Minister for Housing and Local Government, Grant Shapps; both have expressed their support for the scheme.
About Locksbridge Developments
Locksbridge developments is a company owned by Sheikh Holdings which together with the Sheikh family office has interests and investments in property, care homes, pharmaceuticals, serviced offices, FMCG and financial management. The most well-known amongst these is CareTech Holdings plc a leading UK provider of specialist social care services that has been operating in the care sector for eighteen years. CareTech has freehold assets in excess of £200m, consisting of over 250 homes, with many developed in house.
For more information on Locksbridge Developments and Solihull Heights visit http://solihullheights.co.uk
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