St James’s Court goes for £6.5m

FIVE-storey St James’s Court in Manchester city centre has been sold for £6.5m.

The 38,000sq ft building at 24-30 Brown Street has been bought by Boultbee Brooks Real Estate (BBRE), the UK-based property investor and developer, from the HIMOR Group.

St James’s Court has typical floor plates of 8,000sq ft and a car park ratio of 1:1,570sq ft.

The new owners say there is significant opportunity for comprehensive refurbishment to create high quality office space and to utilise various terraced atrium areas to provide an attractive roof top garden.

The acquisition follows  the purchase of Croxley House, announced last week, as BBRE looks to invest in high-quality, sought-after properties in the UK’s major cities such as Manchester.
 
Boultbee Brooks development director, Roger James said:  “We have continued our expansion into strong regional markets with the acquisition of St James’s Court.  

“The proposed office redevelopment is perfectly positioned to take advantage of the strong occupational demand we continue to see in Manchester.”

Will Ainscough of the HIMOR Group added:  “We wish Boultbee Brooks all the best in delivering this exciting opportunity.

“They performed professionally and efficiently during the transaction and the deal went through seamlessly.

“We will now look to reinvest the money into brownfield strategic planning opportunities throughout the UK.”

Aurum Real Estate acted on behalf of Boultbee Brooks Real Estate. OBI Property and CBRE acted on behalf of HIMOR.