A regional property developer has sold its entire portfolio of commercial premises to focus on its residential operation.
Liverpool-based Prospect GB has relinquished all its commercial developments in Liverpool, Chester and Sheffield as it looks to expand its housebuilding activities across the North West of England.
Prospect Homes, which established in 2000, is the residential arm of Prospect GB and is currently based at its offices at Meridian Business Village in Speke, to the south of Liverpool.
Neil Waddington, Managing Director of Prospect Homes, said: “We are pleased to announce that Prospect GB is focusing its energy on increasing the delivery of new homes in order to achieve our long-term strategy of sustained growth.
“A business deal has taken place under which a suitable buyer has purchased all the commercial office space which formerly belonged to Prospect GB, allowing the company to focus its efforts on purchasing land and bringing forward much-needed residential developments.
Peter Kilshaw, Land Director at Prospect Homes, said: “The decision to sell our existing portfolio of commercial units is an exciting opportunity for us as a company to embark on a new phase of expansion as a housebuilder.
“Our plans to continue growing as a residential developer is a statement of intent for Prospect Homes, and one which we are all looking forward to being a part of in the coming years.”
Prospect Homes is currently building across the North West of England and Yorkshire.