Edinburgh property giant moves into Manchester - property development finance

26 August 2008

In property development finance news, Scottish company Kilmartin has opened a new office in Manchester city centre.

The developer has taken over 1,400 sq ft of space in King Street, paying a rental price of £18 per sq ft, as reported by the Manchester Evening News (MEN).

Apart from its headquarters in Edinburgh, the firm also has bases in Sheffield, Inverness and London. It is part owned by Halifax Bank of Scotland.

Director Mark Ridehalgh told the MEN that with schemes already in place in the region, adding Manchester to its portfolio will be an opportunity to "grow the business further".

He added: "The north-west is a significant property region and we're delighted to now have a base here."

Kilmartin had a turnover of £132 million in April 2007 and enjoyed a gross profit of over £10 million. It has a current range of development and investment projects with an end value of more than £1 billion.