Tishby appoints CBRE to find operator for ex-Issa Quay site

CB RICHARD Ellis has been appointed by Manchester-based property developer Realty Estates to find an operator for a serviced apartment/aparthotel scheme in the Piccadilly Area of Manchester.

The scheme, now known as Dale Street Apaprtments, was bought by Yousef Tishby’s Manchester-based property company Realty Estates from the administrators of Bashar Isaa’s failed BSC Group for £5m last year.

It has since undergone a complete refurbishment, which is due to complete during the spring. It contains 85 one, two and three-bed apartments as well as food, beverage and retail areas at ground floor level and basement parking.

Shaun Skidmore, director of leisure and alternative investment at CBRE said: “Serviced apartments have become a popular alternative to hotels in the last few years – particularly in cosmopolitan cities such as Manchester.

“With the hotel sector in Manchester continuing to flourish, this modern scheme located adjacent to Piccadilly Station offers an exciting opportunity for an existing operator to expand its portfolio of serviced apartments.”