History HISTORY VISION, MISSION AND VALUES MEET THE DIRECTORS MEET THE DEVELOPMENT TEAM 1982 Network Space is established as Wain Investments The first acquisition is the former Heinz factory in Standish, near Wigan. This would be re-developed in to a multi-let industrial estate (Bradley Hall Trading Estate) which remains in operation today. 1991 Wain Investments becomes Langtree Property Company The business continues to acquire, refurbish and sub-divide larger facilities in to multi-let industrial estates which are then retained as investments. 1997 Major portfolio acquisition and speculative new development begins Langtree begins speculative development of new industrial space with a 60,000 sq ft scheme. The acquisition of British Coal’s Commercial and Industrial portfolio was also completed, adding a further 480,000 sq ft and 650 acres of development land. 1999 The name Network Space is born and the business ramps up development Network Space is established as a joint venture between Langtree and English Partnerships with the objective of delivering small industrial workspace schemes totalling 500,000 sq ft across former coalfield regions, this would later increase to 750,000 sq ft due to the success of the JV. Alongside Network Space, Langtree begins large-scale speculative development and retention of new industrial property across the North and Midlands of England. In total 2.8 million sq ft of industrial property would be delivered in 40 locations between 1999 and 2008. As the business grows Langtree Property Company becomes Langtree Group. 2001 Another major portfolio acquisition The 1.8 million sq ft Invensys portfolio is acquired by Langtree, containing both investment property and land suitable for both commercial and residential development. 2004 Portfolio value tops £100 million Langtree Group’s investment property portfolio is valued at £106 million. 2007 40 Springardens completes A flagship development of pre-let Grade A office space totalling 100,000 sq ft in a prime Manchester City Centre location is completed. 2010 New Stadium & Tesco Extra in St Helens The first phase redevelopment of the former United Glass site in St Helens is completed. A new purpose built 18,000 capacity stadium for St Helens RLFC and 145,000 sq ft Tesco Extra. 2012 Network Space acquisition completes and the group is restructured The remaining shares of the Network Space JV are acquired by from the HCA (formerly English Partnerships). In order to take advantage of post-recession development and investment opportunities, the group is restructured in to two main operating businesses: Langtree Land & Property (Development) and Langtree Commercial Property (Investment and management). 2014 Langtree Commercial Property becomes Network Space and refinances After two years of significant investment market activity having focussed on modern industrial property across the North of England, the group’s investment and management company adopts the name Network Space. 2015 Network Space is the new name for Langtree Group After 24 years as Langtree, the group rebrands to Network Space. At the same it invests equity and debt in to a startup by former members of senior management called Langtree Property Partners, to which it sells the group's public sector JV interests. The remaining group, retaining the £150 million land and property portfolio, restructures and rebrands to Network Space. 2016 Restructure pays off Following the restructure and rebrand to Network Space, the group refocuses on the industrial property market - continued refinement of its retained investment portfolio and the commissioning of new developments. In the first financial year Network Space posts a record pre-tax profit of £19.2 million with the underlying NAV increasing by 21%. 2017 Another record year As the regional industrial market continues to strengthen, the group's post-recession investment strategy and sector focussed development strategy continue to bear fruit. For the financial year-ending 30th June 2017, the group post a record pre-tax profit of £27.8 million. 2018 The next generation At the age of 39, Group MD Richard Ainscough completes the purchase of family shareholdings in Network Space from his father and sisters. Project Vantage; the sale of a property portfolio to InfraRed of 25 existing industrial units totalling 1million sq ft and the forward sale of 2 new developments totalling 200 sq ft. North West & Head Office Centrix House Crow Lane East Newton-le-Willows Merseyside WA12 9UY East Office 25 Jetstream Drive Auckley Doncaster DN9 3QS Call us 0333 014 3000 Email us info@networkspace.co.uk Twitter Linkedin YOutube Services Development Investment Management Partnership About History Vision, Mission and Values Meet the Directors Meet the Development Team © Copyright Network Space. All rights reserved. Privacy Policy Cookie Policy Email Disclaimer Web design Liverpool by Glow