Issa Quay sold for £5m

ISSA Quay, the part-developed residential and retail building on Dale Street in Manchester, has been sold for £5m.

Issa Quay, which sits on the edge of Piccadilly basin, includes 83 apartments and retail, food and bar areas.

It was being developed by Bashar Issa’s BS Construction, when the company went into administration in May 2008.

Issa Quay has now been sold to Yousef Tishibi, of Manchester-based Realty Estates by property agent CB Richard Ellis on behalf of administrator KPMG.

Julian Such, associate director in the leisure and alternative investment team at CB Richard Ellis North West, said: “The instruction generated significant market interest, mainly from serviced apartment and Aparthotel operators who viewed the development as a good prospect due to its proximity to Piccadilly train station and other established schemes.”