Office block near stadium sold for £1.9m
A SIX-storey office building near Manchester United’s Old Trafford stadium has been sold for £1.9m.
The building at 701 Chester Road has been acquired by Acre Manchester, a subsidiary of Westcombe Group in a deal brokered by Canning O’Neill on behalf of O&H Properties.
It is part let to tenants including Manchester United, Hilson Moran, ORC International and National Housing Federation.
Canning O’Neill director Conrad O’Neill said: “We had a huge amount of interest in the property and the purchaser moved very quickly to secure the building, exchanging contracts just seven working days after the agreement of terms.
“The strong existing tenant line-up and the improving out of town office market made 701 Chester Road an exciting opportunity and this deal is further evidence of the strength of the investment market in Greater Manchester.
“The continued improvement in the occupational market and the potential for alternative use at a later date make this a strategic purchase for Acre Manchester Ltd.”
Canning O’Neill has been retained as joint letting agents with Cushman & Wakefield to continue to market the vacant office space. There is currently a total of 9,850 sq ft of offices available to let in suites from 1,989 sq ft.
