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Cowgills & Primas finalise joint venture between North West based ‘One Heritage’ and ‘Letting Complete’

We are delighted to announce that alongside law firm Primas, we have assisted One Heritage in finalising its joint venture with property management company, Letting Complete.

This joint venture is the first to be completed by our team during the UK-wide lockdown.

One Heritage Property Developments, was established by a Hong Kong-based fund and is led by Jason Upton, based in Manchester, and Yiu Tak Cheung in Hong Kong.

In January its plans for a 55-storey, 545 apartment residential tower – which will become Salford’s tallest building were approved.  This joint venture with Letting Complete will allow One Heritage to expand its portfolio and service offering.

Gary Black and Kin Liu, from the corporate and commercial team at Primas and James Kennedy corporate finance associate at Cowgills assisted on the deal, which took place virtually following the countrywide COVID-19 lockdown implemented on 23 March.

Jason Upton, director at One Heritage, said: “This latest joint venture will serve to maximise our portfolio by widening the scope of our service offering.

“The team involved were fantastic in turning this deal around so quickly, in challenging and unique circumstances. We have big plans for the property market in Salford and Manchester, and this is a real step in the right direction for us.”

Kin Liu, corporate and commercial associate at Primas, added: “We’re really pleased to have assisted One Heritage on completing this joint venture and look forward to partnering with them on future projects.

“It was particularly positive to see that our methods still work via telephone and video conference”.

James Kennedy corporate finance associate added: “We have been working with One Heritage since its inception and we were delighted to intro them to the team at Primus.

“This deal is a great demonstration to the market that completions and work is still being completed despite a more challenging environment.”

Disclaimer

The information was correct at time of publishing but may now be out of date.

Corporate Finance
Posted by Cowgills
16th April, 2020
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