Stockport’s famous Pyramid changes hands in multi-million pound deal

Stockport’s best-known building has been bought by a Saudi Arabian investor.

Eamar Developments (UK) has acquired the Pyramid which sits next to the M60 from the Co-Operative Bank.

The building went on the market last summer for an asking price of more than £4.5m.

The building, which dominates the approach to the town, has been occupied by the bank since 1995.

Following the decision by the bank to move to NOMA in Manchester city centre and other sites the Pyramid became surplus to requirements.

The Pyramid includes 86,000 sq ft of office accommodation over five floors with 426 on-site car parking spaces.

The office block was built in 1987 and was developed with the Co-op as part of a larger development called the The Valley of the Kings which was never built.

Eamar Developments (UK), which is based in Stockport , has Saleh Abdullah Alnaeem listed as a director.

The company also owns south Manchester pub Hardy’s Well and last year submitted plans to turn the property into apartments and shops.

The building has seen few major improvements since being completed in 1992.

The sale to Eamar is on a freehold basis and Cushman & Wakefield acted for the Co-Operative Bank.