Property round-up: Quorom buys Wilmslow office building, Subway opens new Preston unit; and more
ONE of Wilmslow’s most prominent office buildings has been bought by Quorom Estates from private clients of Stewart Montrose for an undisclosed sum.
The property – 52-56 Alderley Road – was sold off a guide price of £3m by agents OBI Property.
The building has some ground floor retail units and 12,000 sq ft of offices on upper floors let to BiWaterplc and estate agents Gascoigne Halman.
Gary Scorah, an investment partner at OBI Property, said the deal was an indicator that investors were returning to the South Manchester office market.
“This building makes a perfect addition to Quorum’s well-managed portfolio of commercial property and its South Manchester/Cheshire strength.”
Paul Wardle, director of Quorum Estates, said: “This acquisition represented an ideal opportunity for Quorum to increase its office investment presence in Wilmslow. “The property is well-located within the town centre and benefits from excellent on-site parking as well as a high profile position.”
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SUBWAY franchisees Mark and Simon Ledwick have taken on their 13th sandwich shop in the North West with the opening of a new store at the Tulketh Mill development on Blackpool Road in Preston.
Around ten new jobs are being created following the opening, and the Ledwick brothers have said they have further plans to open other stores in Lancashire and Cumbria.
Simon Ledwick said: “Demand in the local area for the SUBWAY® chain’s freshly made Subs is phenomenal, and I can only see that demand growing. I feel sure that the new store will be a great success and help with our planned expansion across the region.”
Fast & Fresh Restaurants is the development agent for Subway across the North West outside of Greater Manchester.
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THE owners of Bolton’s Market Place Shopping Centre have secured three new lettings – national occupiers Costa Coffee and Greggs have both taken units, alongside local independent Ye Olde Toffee Shoppe.
Costa will take a a new 1,229 sq ft store in the mall near the entrance to Debenhams on the ground floor, while Greggs’ new 890 sq ft bakery will trade on the ground floor, next to local coffee shop Cappuccino’s. Both lettings have been secured on 10 year lease terms.
Centre manager Rod Neasham said: “It is a pleasure to be welcoming Costa and Greggs to Market Place, where they will further complement the catering offer at the centre.
“We are keen to offer customers the best possible selection of food and drink outlets and are continually working to create an exciting mix of major high street names, like Costa, Starbucks and Greggs, as well as local independent businesses such as Cappuccino’s, Mezzo and Jugo.”
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ISRAELI owned Bank Hapoalim has appointed Manchester commercial property agent p3 property consultants to let its former Charlotte St offices in the city centre.
The bank had previously occupied the entire 12th floor of St James’s House on Charlotte Street, or around 2,980 sq ft of space.
St James’s House was built in the early 1960’s as a mixed use office and retail development. The building was also once home to the St James Club, and had several floors of club rooms, bedrooms, squash courts and a swimming pool.
Since 2001, it has been owned by by Altrincham-based Stephen Elias and has subsequently been comprehensively redeveloped.
Peter Gallagher, partner at p3 said: “This is a great opportunity to acquire good quality modern offices in a well-known city centre address.
“The space has superb views over the city centre and can be let as it is with a very generous deal package or fully refurbished ready for immediate occupation. We can also offer adjoining floors for a larger occupier looking for between 6,000 and 9,000 sq ft.”
