Serviced operator signs for Issa Quay
MAX Serviced Apartments has signed a deal to operate the former Issa Quay building on Dale Street, near Piccadilly Station.
The building was initially built by bankrupted property developer Bashar Issa but following the collapse of his business empire it was left in a partially-completed state until it was snapped up from administrators by Manchester-based Realty Estates for £5m last year.
Realty’s owner, Yousef Tishbi, then embarked on an extensive refurbishment before appointing CBRE in February this year to find an operator for the building, which was rebranded Dale Apartments.
It has now brought in MAX serviced apartments, which currently operates similar schemes in seven other cities targeting business visitors and tourists looking for city breaks.
Dale Apartments now comprises 85 one, two and three bedroom apartments, a dedicated reception area, ground floor retail space and basement parking.
Shaun Skidmore, director of specialist markets at CBRE North West, said: “The property was taken to market specifically targeting serviced apartment operators. We saw significant interest in the property.
“Demand for serviced apartment accommodation has remained strong throughout the UK, and Manchester is no exception. The city is one of Europe’s primary business and leisure destinations, with outstanding retail and offering numerous world-class tourist destinations and several prominent music venues.”
