Carillion and Ask are working together on a two phase development at Embankment on the borders of Manchester and Salford
Carillion has bought a majority stake in Manchester-based real estate company Ask Real Estate from the company’s four founding shareholders, which include Simply Red singer Mick Hucknall.
Ask now aims to create a £500m pipeline of commercial property development schemes over the next five years in major cities forming the spine of the Northern Powerhouse, supported by the Carillion Developments team.
The deal is also likely to create a stream of projects for the company’s construction business. Carillion is already co-contractor on the £650m Manchester Airport City, where it has a 20% stake in the development vehicle delivering the scheme.
