Clothing supplier acquires Deansgate HQ building in £6m deal
Wholesale clothing supplier, Whispering Smith, has completed the purchase of a new headquarters building in Manchester city centre, acquiring 274 Deansgate for £6.35m.
The deal, which was negotiated by global commercial property specialist Colliers on behalf of the white label clothing manufacturer, will see Whispering Smith relocate from Great Ducie Street to the five-storey 23,688 sq ft office building.
Whispering Smith is a white label clothing manufacturer, supplying top retail and ecommerce brands including ASOS.com and Zalando, with showrooms in London, New York, Düsseldorf and Madrid.
The third generation family business also has a portfolio of fashion brands, including Brave Soul, Good for Nothing and Night Addict.
Director, Rajan Kumar, said: “From when my father, Lal Kumar first began importing clothing to Manchester in the sixties from the Far East, to today, I am proud to say we have grown to become one of the UK’s largest importer, wholesaler and distributor of fashion for major retailers and e-tailers globally.
“Manchester has been central to our success.”
He added: “Our acquisition of 274 Deansgate not only represents a great investment for us as a business, but also demonstrates our commitment to Manchester and its thriving ecommerce community.”
Located on Deansgate, adjacent to Spinningfields, 274 Deansgate is also occupied by high-end bike retailer Pinarello, which will be remaining in situ in its premises on the ground floor.
Paddy Kennedy, national offices, Colliers, who advised Whispering Smith, said: “Born and bred in Manchester, Whispering Smith is a prime example of a family business that started from humble beginnings and has grown from strength to strength.
“The business is fast becoming a Manchester institution and 274 Deansgate provides the business with a base to ensure that they remain in the thick of the city’s thriving fashion community, while also benefiting from Manchester’s international connectivity.”
Kennedy added: “274 Deansgate represented a rare opportunity for Whispering Smith to acquire a prominent asset in a sought after area of the city centre, while at the same time providing the ideal headquarters from which to operate their business and continue their growth trajectory.”
Colliers advised Whispering Smith and WT Gunson advised the vendor.
