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Manchester-based property developer One Heritage has finalised its joint venture with property management company Letting Complete.

With big plans for residential properties in Salford, including approved plans for a 55-storey, 545-apartment residential tower set to be the tallest building in the area, the companies have said being a joint venture will allow the firms to expand their portfolios and service offerings.

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 last month.

It will be branded as One Heritage, and director Jason Upton 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, particularly in such 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 assistant director at accountancy firm, Cowgills, said: “We have been working with One Heritage since its inception and we were delighted to introduce them to the team at Primas.

“This deal is a great demonstration that the M&A market in the North West is still active despite a more challenging environment.