Landmark office building in Manchester’s Gay Village sold

A landmark building in the heart of The Village, Manchester has been sold for an undisclosed sum by Landwood Group.

The 15,694 sq ft Richmond House on Bloom Street has been snapped up by Oxford Court Partnership as a long-term hold investment opportunity.

The five-storey Victorian building comprises a bar, restaurant and seven offices.

The property shares a grand history, being constructed at the same time as London’s Tower Bridge and when the Statue of Liberty was first being transported to New York City.

This sale was a joint effort between two Manchester businesses as Sixteen Real Estate acted on behalf of the purchasers and Landwood Group negotiated the sale for the existing owner.

Anna Main, Director of Commercial Asset Management at Landwood Group, who has held the property through two previous owners, said: “Richmond House is a tremendous investment opportunity as a prime freehold investment in the heart of the city centre.

“I’ve worked on this beautiful property for a decade now and was instructed by a long-term client to sell the property with the sale being finalised in February 2022.

“The success of the asset really highlights the benefits of offering a full range of services to clients within our department from purchaser through to sale.

“Our experienced asset management team conducted a range of services on this instruction over the years and we are delighted to be instructed as managing agents for the property by the new purchaser.”

Scott Shufflebottom of Sixteen Real Estate who acted on behalf of the purchaser said: “Richmond House was a great fit for our client and there is plenty of scope to drive the investment value over time.

“We look forward to working with Oxford Court Partnership and Landwood Group to unlock additional value in the asset.”

Sixteen Real Estate are retained as leasing agents.