PROPERTY ALLIANCE GROUP LIMITED

• ◆

  5 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Notwithstanding the Group loss for the year of £11.1m (2023: £16.2m) the financial statements have been prepared on a going concern basis which the directors consider to be an appropriate basis.”

Group structure

1. PROPERTY ALLIANCE GROUP LIMITED · parent
   1. Axis Manchester LLP 99.5%
   2. Bealaw (Man) 8 Limited 100%
   3. Devonshire House Property 100%
   4. Leeds Place Property Limited 100%
   5. Listed Name Limited 100%
   6. PAG Styal Limited 100%
   7. Pagref Partner Limited 100%
   8. Portland Street Property Limited 100%
   9. Roberts House Property Limited 100%
   10. Store Street Developments Limited 87.5%
   11. KS Manchester Limited 100%
   12. PAG Holdings S.a.r.l 100% · Luxembourg
   13. Alliance Real Estate LLP 100%
   14. ARE II LLP 100%
   15. PAG II Holdings S.a.r.l 100% · Luxembourg
   16. Axis Tower UK Limited 100%
   17. Abergele Property Limited 100%
   18. Bury South (Riverside Park) Management Limited 100%
   19. Bury South Management Limited 100%
   20. Reedham Investments 100%
   21. Reedham Alliance Limited 100%
   22. BPG Alliance Limited 50%
   23. SHOO 262 Limited 50%
   24. Axis Tower Screen Limited 100%
   25. Manhattan Manchester Commercial Limited 100%
   26. Dragon Investments Limited 100%
   27. Caernarfon Properties Limited 100%
   28. Polvellan House Limited 100%
   29. Dumbleton Properties Limited 100%
   30. Pickering North Yorkshire Limited 100%
   31. Ledwyche Limited 100%
   32. Alliance UBS Limited 50%
   33. Lowton Alliance Limited 50%
   34. PAG Property Limited 100%

Significant events

• “During the financial year, PAG, in collaboration with JV partner Moda Living, secured planning approval from Manchester City Council for the redevelopment of a 7.5-acre site off Upper Brook Street. This ambitious project will deliver 447,000 sq ft of life sciences workspace, 900 student accommodation beds and outstanding new public realm.”
• “Working with Starwood Capital, our JV partner, works have progressed at the Renaissance mixed-use scheme in Manchester City Centre. The 260 space car park has been fully operational during the financial year and is generating revenue via a lease with Your Parking Space Limited. The 207 bed Treehouse Hotel is on course to complete early in 2025.”
• “Planning was approved for the development and operation of padel courts at two locations. The Pollen Club, situated at the Renaissance JV scheme, will feature two courts and is scheduled to open in early 2025. At PAG's Cleveley's site, three additional courts will be developed later in the year.”
• “Planning was granted on the redevelopment of PAG's currently owned Reedham House for a new net zero 14-storey office building, which will see the 52,000 sq ft space have a completed GDV of £49.5m.”
• “In the prior year PAG, alongside JV partner Pitalia Real Estate, acquired the mixed-use space at Lowton Business Park. Capital renovations were completed during the year, and with the majority of the site now let, is yielding consistent returns.”
• “the group successfully completed the sale of its Radar portfolio of industrial properties during the financial year. In addition to the radar portfolio of assets, a carefully selected number of properties were reallocated from investment property to stock in May 2025 as the group aims to liquidise the high yielding assets and reinvest the proceeds into other exciting value adding opportunities.”
• “A provision of £4.9m has been made against the receivable balances from an associated business. This is required to support a residential development, outside of the group, which experienced significant engineering challenges, resulting in increased costs and delays.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

16

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

5

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -2.5%

  £24,432,000 → £23,820,000

• Cash

  +15.1%

  £4,058,000 → £4,672,000

• Net assets

  -14.6%

  £75,511,000 → £64,511,000

• Employees

  +1.6%

  61 → 62

• Operating profit

  +3.7%

  -£6,517,000 → -£6,279,000

• Profit before tax

  +24.8%

  -£19,492,000 → -£14,658,000

• Wages

  -10.5%

  £2,455,000 → £2,198,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers