‘US investor buys’ 100 Barbirolli Square
MANCHESTER office block 100 Barbirolli Square has been bought by US private equity house Oaktree Capital Management and UK investor Moorfield, according to PropertyWeek.com.
Last month TheBusinessDesk.com reported that an offer had been accepted on the building from an overseas investor but agent Jones Lang LaSalle would not release further details.
It is still refusing to confirm PropertyWeek’s story that says the 140,000 sq ft block has been bought for £40m from Scottish Widows which paid £70m in 2006.
It is home to law firms Addleshaw Goddard and DLA, and accountancy group Ernst & Young. Two years ago Scottish Widows bought the neighbouring 84,000 sq ft 101 Barbirolli Square from Hermes in a £30m deal. Tenants are DLA, which has 32,000 sq ft, and accountancy firm PwC, which occupies 52,000 sq ft.
A spokesman for Jones Lang LaSalle said the firm was bound by confidentiality and unable to comment.