Property group acquires prime city centre office block

40 Peter Street
X The Business Desk

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Manchester-based Hurstwood Holdings has boosted its growing national commercial portfolio with the acquisition of a prime city centre office building.

The property investment and development company has bought 40 Peter Street, in Manchester city centre, from private clients of Christopher Dee for an undisclosed sum.

The 1950s portland stone building comprises 5,000 sq ft of refurbished office accommodation over three floors and is home to consultant engineers, Shepherd Gilmour and chartered surveyors, Christopher Dee.

Situated in the heart of the city centre, close to St Peter’s Square and Great Northern Warehouse – both areas that have undergone dramatic change – the building also benefits from excellent transport links.

There is one vacant floor providing 1,614 sq ft of open office space, which is being marketed at £20 per sq ft.

Stephen Ashworth, chairman and chief executive of Hurstwood Holdings, said: “Forty Peter Street is an attractive landmark building, which has undergone a major refurbishment creating a contemporary office environment that benefits from lots of natural light and manageable, open floor plates.

“As soon as we were made aware that it had come to the market, we knew it was an excellent opportunity for us and were determined to add it to our Manchester portfolio.”

He added: “Working with Chris Jones and Chris Bathurst at Christopher Dee was an absolute pleasure and we were pleased to have completed this deal quickly, ahead of the agreed timeframe.”

Matt Cox, of King Street Commercial, represented Hurstwood Holdings. Rothschild provided the finance and Gateleys acted as the legal representatives.

Hurstwood Holdings is a commercial investment group with more than £160m of commercial and residential assets on 100 sites nationwide housing in excess of 750 occupier clients.