Apartment blocks sold for £17m

TWO buildings in the heart of Fallowfield, Greater Manchester have been sold to real estate investor Mansford LLP for a total of £17m.

Acting on behalf of Greystar, Cushman & Wakefield disposed of Mayfair Court and Chancellors Court. They comprise 150 self-contained apartments with four ground floor shops and onsite car parking.

Let to a mix of young professionals, students and post graduates, total income for 2015 was about £1.5m.

Mike Mitchell senior director and head of student investment at Cushman & Wakefield said: “These are important and strategic buildings situated close to the soon to be extended University of  Manchester Owen’s Park campus and within an area that is undergoing significant regeneration in response to Manchester’s growing student population and demand from private renters.”

GVA represented the purchasers.