Big Issue HQ sold for £1m

HOMELESSNESS charity The Big Issue in the North has sold its headquarters in Manchester city centre for £1m.

Addiction Dependency Solutions, another charitable organisation aimed at helping vulnerable people in Manchester which already occupied the Oldham Street building as a tenant, has bought the 1,445 sq m property.

Rhona Bradley, chief executive of ADS, said: “The purchase of this flagship building is fantastic news for ADS and all our clients who we work with everyday to overcome their addictions. It marks another exciting era in our 35 year history”.

The Big Issue in the North acquired the building in 1997 following a substantial fundraising campaign, the investment of National Lottery money and a large regeneration grant from English Partnerships.

Caroline Price, director for The Big Issue in the North, said: “We are delighted that the sale of the Oldham Street building is complete, and our former home is still being used to provide important services to people in need.

“The sale of the building means that we can purchase new premises for The Big Issue in the North, which is better suited to the needs of the magazine and the vendors selling it.”

Cobbetts advised The Big Issue, while Pannone advised Addiction Dependency Solutions.

Brian Ghatan, commercial property solicitor at Cobbetts, said: “It is fantastic news that these charities have been able to assist each other in working towards their future objectives. The deal is also a positive sign for the North West market, especially given both parties’ status as charitable organisations.”