Watch This Space buys Northern Quarter scheme for £850K deal

Northern Quarter

Urban regeneration company Watch This Space has increased its property portfolio in Manchester with the off-market acquisition of a mixed-use scheme on the edge of the Northern Quarter in Manchester city centre, in a deal worth £850,000.

The building at 55-60 Salmon Street comprises 8,500sq ft offices with a restaurant on the ground floor and a 1,000sq ft plot of land to the side. The offices on the top floor are occupied by short term tenancies.

This acquisition marks the developer’s third office development in Manchester city centre since the company launched a year ago.

Watch This Space purchased and refurbished 31-33 Princess Street, which is now fully let and also home to ‘That Space’ a co-working environment for property professionals.

This was followed in December by the £1m acquisition of 62 Bridge Street, a 4,800sq ft office building, which again was bought off-market and is where the co-work space will be expanded, with quirks such as roof terraces and leisure hubs.

Founder of Watch This Space Michelle Rothwell said: “Salmon Street is a real gem of a building, located in an up and coming area of the city. The Northern Quarter has been hugely successful and we’re now starting to see the ripple effect of development move out to schemes such as this.

“Our plan is to refurbish the offices to create creative work space and we’re looking at ways to further maximise the value of the site, potentially through development of additional land.”

The building was sold by Andrew Illingworth, who was advised by Roger Hannah and Co.

Watch This Space represented itself.

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