Law firm’s biggest regional office sold for £1.755m plus
THE largest regional office of family law firm Simpson Millar in Old Trafford, Manchester, has been sold for more than £1.755m.
The building at 100 Talbot Road has been sold on behalf of a private client by the capital markets team at CBRE in Manchester to Quasar Real Estate, a Jovilet Group.
The 17,147 sq ft modern, five storey office building has prominent frontage and is directly opposite the Emirates Cricket Ground and Old Trafford Metrolink.
The property is single-let to Simpson Millar Solicitors, part of Fairpoint Group, and is operated as the firm’s largest office on a 10-year term from 2015.
CBRE’s research shows that the Old Trafford and South Manchester out-of-town office markets have proven to be incredibly resilient over the last five years with combined take-up for both markets standing at 700,000sq ft for the last two years.
Take-up in Old Trafford has increased by 50% since 2011 and nearby occupiers to 100 Talbot Road include Kellogg’s, United Utilities, Greater Manchester Police and Trafford Metropolitan Borough Council.
Luke Wilson, senior surveyor in CBRE’s Manchester Capital Markets team, said: “We are pleased to have concluded the sale above the quoting level on behalf of our client. The property represented an excellent opportunity for the purchaser to acquire a modern, well-located office building leased to a successful and growing business in Simpson Millar.”
Simon Storer, of the Jolivet Group, said: “100 Talbot Road fits well into our already impressive portfolio, through JPM we will endeavour to forge a close relationship with Simpson Millar to ensure longevity of their occupation, we are continually seeking opportunities of this nature.”
