Phase One of £30m Development at Riverway Stafford is Officially Opened and Next Phases Announced
Manchester based Panacea Property Development has completed the first phase of its prime £30m mixed use development at Riverway Stafford. Phase 1 is a new £12m headquarters for educational support company, Entrust, with capacity for 450 people and was officially opened in October by National Schools Commissioner, Frank Green.
The 47,600 sq ft (4,422 sq m) headquarters and business centre office development, let on a 30 year lease, is located on a site of 2.1 acres (0.85 hectares). Barnfield Construction was the contractor on the building which completed in August before Entrust took full occupation last month.
Phase two of the development consisting of a 15 unit supported living units on the prominent 1.6 acre (0.64 hectare) front site is due for completion in March 2016. Phase three is now in for
planning for another 15 bed supporting living scheme and is due to be completed in 2016. Gareth Riddell, Co-founder and Director of Panacea Property Development says:
“Panacea has used its blend of unique skills and experience to bring the Riverway Stafford development to fruition and has built an enviable portfolio of complex sites where we can
add real value. “We help landowners and occupiers from both public and private sectors that require a dedicated, confidential and streamlined service to deal with their diverse property
requirements. We act independently or in partnership and collaborate with other organisations.”
Phase one of the scheme was forward-funded by Aviva Investors. Phase two was funded from internal resources by Panacea.