City centre block sold for £5.1m

A 37,000 sq ft building in central Manchester has been sold by Aberdeen Asset Management for £5.1m.

Commercial Buildings, which is next to Boots at 11-15 Cross Street, has been bought by an unnamed private investor who plans to locate an existing business in part of the building.

It has 35,223 sq ft of office space and 1,658 sq ft of retail which is let to O2 and Ladbrokes.

Hazel Ramsay, director at Savills, advised Aberdeen Asset Management. She said: “Owner occupier acquisitions of this scale are relatively rare within Manchester’s city centre. This transaction demonstrates the window of opportunity for equity rich individuals and businesses in the current market place to invest in their own occupational estate.”

WHR advised the purchaser.

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