Yorkshire property firm makes maiden acquisition with Manchester deal

An Elland-based property company has snapped up a 28,000 sq ft listed Manchester office building which was up for sale for  more than £8.3m.

Kinrise has sold the Northern Assurance Buildings to Threesmith Group, marking the first acquisition for the property investment group which is helmed by James and Luke Smith.

Huddersfield-based Crans Property Consultants and Schofield Sweeney acted on behalf of the purchaser with Carrick Real Estate, OBI Property and Withers Worldwide on behalf of the vendor.

David Cran of Crans Real Estate said: “This was a fabulous opportunity for my clients to acquire a prime asset with secure income and longer term asset management opportunities, this building has rarely traded having been recently refurbished with long established occupiers and is perfectly positioned in preparation for the reopening of Albert Square later in the year.”

Northern Assurance Buildings is well known within the Manchester property community and is home to FEC, Metis Real Estate, and Hydrock.

Northern Assurance Buildings is one of four that makes up the Albert Estate, which Kinrise acquired for £6.7m in 2015.