Eden Point bought for £3.2m by new JV

The Eden Point office building in Cheadle Hulme, Greater Manchester, has been bought by a newly-launched joint venture for £3.2m.

Manchester-based developer and investor Bridge Properties has formed a JV with White Rose Sports Ventures to create Eden Point Developments and acquire the building.

The new company now plans to invest around £1m in a complete refurbishment of the building.

The facility, which comprises 41,000sq ft over four floors and is prominently located on the A34 in Cheadle, has been bought from Bovis Homes.

Partner Caroline Hanratty, who led the Mills & Reeve team which advised on the deal, said: “Eden Point is in an excellent position to capitalise on the growing demand for premium office space in South Manchester.”

Paul Stewart, director of Bridge Properties, added: “This project has the potential to provide creative and flexible work space in South Manchester.

“High quality on-site amenity will be provided and the building’s connectivity will be greatly improved when the Airport Relief Road opens early next year.”

Williams Sillitoe and Cushman & Wakefield advised the purchaser.