The Hive sold for £17m
AWARD winning building The Hive in Manchester’s Northern Quarter has been sold for £17m by owners Argent.
The building on Lever Street has been bought by Edinburgh and London-based investment firm Kames Capital.
Kames Capital is a specialist investment management business, which manages £55bn on behalf of UK and international clients – including wealth managers, financial advisers, family offices, pension funds, financial institutions, government agencies and individuals.
Argent managing partner David Partridge said: “The sale of The Hive to Kames Capital shows the strength and quality of the building we developed in partnership with Manchester City Council.
“There is a very exciting mix of tenants in the building, whose enthusiasm and commitment to the space has no doubt helped attract the buyers.”
Gary Scorah, Commercial Properties Limited acted on behalf of Argent while JLL acted on behalf of Kames Capital.
Scorah said: “Kames Capital sees the strength of the wider offer of Manchester’s Northern Quarter, having purchased the Smithfield Buildings last year, it is clear they see the area as one of great potential. Kames views the Hive for what it is, the best quality office building of its kind in the area.”
James Porteous, director, JLL added: “This is a fantastic building with excellent sustainability credentials. We are delighted to have acquired this property for our client, Kames in what is fast becoming a very sought after location.”
The Hive is the only Grade A office building in Manchester’s Northern Quarter. Tenants include: the Arts Council England, 5plus architects, Gooey Creative, Join the Dots, Online Ventures Group, Fatsoma, Spacemen Creative, Bakerie Wine Store, Pie & Ale and the Studio.
