Bluetree puts Castlefield Chapel up for sale

BLUETREE Estates has appointed DTZ to handle the sale of its Grade II-listed Castlefield Chapel scheme in Manchester.

The 12,000 sq ft self-contained building is a former congregational chapel built in the 1850s by prominent Victorian architect Edward Walters. Bluetree Estates has set an asking price of £3.35m for the building, or £18.50 per sq ft on a leasehold basis.

Rob Yates, DTZ’s office agency director in Manchester, said: “This landmark building has undergone a comprehensive refurbishment to provide striking contemporary office accommodation.

“While the end product is truly individual, the flexibility of the accommodation, which incorporates air conditioning and full access raised floors, is what a modern day occupier would expect.”

The refurbishment was carried out to BREEAM Excellent standard, is Cat 5 cabled throughout and has 17 onsite car parking spaces.

“The opportunity to acquire a building of this size is truly unique,” said Yates.

“Due to the lack of new development, we anticipate strong demand.”

Bluetree bought the Castlefield Chapel for a reported £1m in 2006 from pop impresario Pete Waterman. It then embarked on a major refurbishment after agreeing a £3m mortgage deal with Royal Bank of Scotland in November 2008.

Manchester-based digital and design agency Amaze, part of Hasgrove plc, agreed to lease the building and moved in during February 2010. However, teething problems with the sewage system and a rapid growth in the firm’s staff numbers meant Amaze firm never signed a lease for the building and in November it announced a deal to take on 19,000 sq ft of offices at Ask Development’s First Street scheme.

Joint letting agents for Castlefield Chapel are TFC.