Office block to get £1.9m facelift following acquisition
Property investment firm Carrick Real Estate has acquired an office block in south Manchester for an undisclosed amount.
Serviced office firm Pure Offices is to carry out a £1.9m fit out of the 3400 Lakeside on Cheadle Royal Business Park following the deal.
The building was bought from Target Real Estate and will be Pure Offices 21st serviced office to open in the UK since its launch in 2007.
The fit out of the 36,479 sq ft, three-storey office building is due to be completed in Autumn 2018.
Suites ranging in size from 100 sq ft up to 3,000 will be let out on on flexible rolling monthly contracts, including broadband and a telephone.
Facilities will include meeting rooms and amenity areas with business lounges, phone booths, and external seating.
Other occupiers at Cheadle Royal include Capita, Balfour Beatty, De Vere and Trinity Pharmaceuticals.
Pure Offices has opened four new centres in the last 18 months and is looking at a number of other opportunities throughout the UK.
Pure offices managing director Katie Whell said: “Today’s business customers are increasingly looking for flexibility.
“Not only with their spatial requirements but also with their tenure. Pure Offices fulfil these criteria, working with the occupier to provide the optimum workspace solution for their business.”
Steve Carrick, of Manchester-based Carrick Real Estate, represented Pure Offices in the transaction and has previously acted on behalf of Pure Offices owner, Northwood Investors.
Northwood’s acquisition activity is led by investment director Richard Pellatt.
Steve Carrick said: “Pure Offices bring a refreshing and competitive serviced office alternative to the North West, where there is great demand from entrepreneurs and growth businesses for transparent and flexible leasing terms and office provisions.
“3400 Lakeside and Cheadle Royal Business Park have proven to be highly successful business locations and we are pleased to have been able to move quickly to secure this successful transaction.”
Pure Offices were represented by Carrick Real Estate, Target Real Estate were unrepresented.
Carrick Real Estate was set up 10 months ago by Steve Carrick. It has handled in excess of £1bn transactions for its private clients, landlords and fund managers.
