King Street building sold
WEALTH management firm Xentum has brokered a deal on behalf of Bury-based property investor 53N to buy the 76 King St building in Manchester city centre.
The building, which was previously occupied by law firm Halliwells, was sold by UK Land & Property for an undisclosed sum.
53N will now begin an extensive refurbishment of the 31,00 sq ft of office space in the building which is spread over four floors.
Until recently, volume legal services business HL Interactive, which spun out of law firm Halliwells in 2009, had occupied a floor of the building, but it has recently moved into Bruntwood’s City Tower.
Dominic Baldwin, managing director of Lymm-based Xentum Wealth Management, said: “With no sign of inflation rates looking to fall there’s a real demand for inflation-proof investments. Commercial property is an asset that is proven to be a strong inflation hedge and by working with 53N it enables us to find unique investment opportunities for our clients.
Andrew Waugh from 53N added: “We’ve been working in strategic partnership with Dominic for a long time and by taking advantage of market conditions we’ve been able to assist Dominic in unlocking a great investment opportunity for his clients.
“Deals like this take time and we’re looking forward to working together on future projects.”
WHR and Matthews & Goodman have been appointed as joint letting agents on the building. Gorvins and Weightmans provided legal advice on the deal.
