New Manchester HQ for development and investment firm

Development and investment firm, Pitalia Real Estate, is relocating its head office from Bolton to Manchester city centre.

The firm has recently completed the freehold acquisition of 24 Oxford Court, Manchester here its operations will be based.

The 3,200 sq ft scheme, located between Oxford Road Station and St Peter’s Square, will act as the firm’s new Manchester HQ as it seeks to continue targeting investment opportunities across a range of property sectors.

Comprising of office space arranged over ground and two upper floors, the recently refurbished building forms part of the Oxford Court development which is currently home to organisations including the Professional Footballers Association, Freeman & Co Solicitors and Sir Robert McAlpine.

The deal, valued at just over £1m, will see Pitalia Real Estate acquire the remainder of the 999 year lease for the site from BW Sipp Trustees.

It follows the £9.3m acquisition of Ancoats’ Aeroworks building earlier this year, which was the group’s first investment purchase since its launch in March by former JLL North West chairman, David Lathwood.

David Lathwood, CEO of Pitalia Real Estate, said: “Having spent over 30 years of my career working in Manchester city centre, I’m excited at the prospect of moving back again.

“24 Oxford Court is an ideal location right in the heart of the city and will provide the perfect environment for Pitalia Real Estate to continue to grow its business.

“As our second acquisition in the city centre, this deal reaffirms our commitment to targeting and developing top-class assets and will act as a signal of our intent to grow and develop our portfolio as the market rebounds from the pandemic.”

Pitalia was advised on the deal by Colliers.  Canning O’Neill were the property agents acting on behalf of the vendor.