Dock Office sold for £2.6m

THE Dock Office at Salford Quays has been bought by a group of private investors for £2.6m.

The 61,200 sq ft building in Trafford Road was sold by receivers at GVA to LiveMan Properties which is registered in London and has Guy and Michael Marsden as directors.

GVA was appointed by US-based Kennedy Wilson which took control of Dock Office and Arkwright House in Manchester when it bought a portfolio of distressed debt from Lloyds TSB, backed by Deutsche Bank.

The deal meant Manchester landlord, Wrather Group, lost control of the buildings. It originally paid £18.5m for Arkwright House in 2010, and around £7m for Dock Office. Arkwright House is understood to be under offer to London-based property investor Catalyst Capital.

GVA associate Gareth Conroy said: “Currently providing office accommodation over four floors and basement, the Grade II-listed property boasts redevelopment potential for a variety of uses. The site also benefits from a large parcel of land adjacent to the site which could offer additional parking facilities for the occupier or, alternatively, further development opportunities.”