Developer acquires 9,000 sq ft Liverpool city region building for £260,000 and clears the property debts of the charity that occupies it. Tony McDonough reports
Developer Nicholson Group has acquired a 9,000 sq ft commercial building in St Helens and says it may expand it by a further 5,000 sq ft.
As part of the £260,000 deal, Nicholson Group agreed to clear all the property debts of one of its tenants, a charity called the HoneyRose Foundation. Now in its 20th year, the foundation grants wishes to over-40s facing terminal and life-threatening illnesses.
And thanks to the gesture from the Nicholson Group it will be free to continue with its work. Lynn Duffy of the charity said it had “helped more than 12,500 individuals and their families, providing them with moments of joy and respite amidst their most challenging times”.
She added: “We will now continue to do so thanks to Paul and the Nicholson Group.”
Paul Nicholson, chief executive of Nicholson Group, said it would carry out an assessment of the building before deciding on future plans. These may include extending it to 14,000 sq ft.
He added: “When I was approached that there was an opportunity to acquire another iconic building in the town centre it became apparent that anyone who took on the challenge must act in the best interest of the community and the HoneyRose Foundation.
“In order to ensure the future of the charity we took the decision to clear all of the debts of the charity so it had a clean slate to allow it to flourish while continuing its vital work in the community.
“It’s been extremely hard for the HoneyRose Foundation like so many charities we know and support, given the pandemic and the economic aftermath.
“We’ll be supporting The HoneyRose Foundation for their 20th anniversary ball having bought a table and we’d encourage many other like-minded businesses in St Helens to consider doing the same.”
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This building will provide Nicholson Group with an annual rental income of £24,000 a year while it decides on its next steps.
Paul said: “We have acquired an office building which we are currently undertaking due diligence on as to the viability of several uses subject to prevailing demands. We have no plans at present.
“We wish to discuss our proposals with the council in order that any decision and subsequent application we do make is in line with their strategy for the town and its ongoing regeneration.”