Manchester’s Acresfield sold for £18.8m

THE Acresfield in St Ann’s Square, Manchester, has been sold for £18.83m.

Pension fund Aberdeen Property Investors has sold the 51,685 sq ft building to Schroders, which was acting on behalf of SEPUT.

The landmark building produces an annual rent of £1.4m and multi-let to various office tenants and key retailers, including Links of London, Fat Face, Henry Lloyd and Camper.

DTZ advised Aberdeen Property Investors, while CBRE acted on behalf of Schroder.

Craig Barton, investment director at DTZ, said: “Acresfield is a quality retail and office building in the heart of the city centre and provides a good mix of secure income and asset management opportunities for the fund to leverage from, particularly in view of future constraints in retail and office development supply in the city.”