Property group Network Space turns to Grant Thornton for business advice

10 July 2018 2 min. read

Grant Thornton has been appointed by property group, Network Space, as the family-owned business looks to court potential investors. Grant Thornton’s real estate team in Liverpool will help its new client as Network Space looks to shift strategic direction.

Network Space is one of the North West’s longest-standing and most active industrial property developers and investors. By taking a sector-focussed strategy through the duration of its 36-year history, the firm has established itself as a market-leader in industrial development, investment and management.

Its successful approach has led to it posting record profits in each of the last two years and the Newton-le-Willows-based property group is currently involved in delivering more than 2.5 million square feet of new industrial developments across the Northern Powerhouse region over the next five years. The property group is now investing heavily in innovative technology and IT systems to ensure it maintains momentum, as well as appointing Grant Thornton in an advisory capacity.

Property group Network Space turns to Grant Thornton for business advice

Network Space’s Group CEO, Richard Ainscough, took the reins of the business from his father last month, and appointed Grant Thornton on a brief which will see the firm’s property and construction team – headquartered in the city’s Liver Building – support the business as it embarks on a new era. Grant Thornton will help oversee Network Space as the firm looks to shift its investment strategy. The move will see the historically self-financed group look to potential partnerships with value-driven sector-specialist investors in particular, potentially opening up new avenues for growth.

Neil Sturmey, Partner at Grant Thornton’s Liverpool office, said, “We’re naturally delighted to be advising one of the Northern Powerhouse’s longstanding and influential property players, as it enters a new phase of growth… It’s really important that we work closely with Richard’s team, to supplement their own expertise with our strategic input and ideas as well as connecting the business with our client and sector network.”

Richard Ainscough, Network Space Group CEO & Chairman, added, “We are at the beginning of a new chapter, not only for our business but also the industrial property sector… Neil and his team impressed us with their proactive approach to advising clients as well as their depth of sector resource and knowledge base.”

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