Mosley Street offices sold for £4m

PRIVATE investors have snapped up two buildings on Manchester’s Mosley Street for £4m.

Belfast-based property group Benmore has sold 67-73 and 75 Mosley Street to a syndicate of investors.

The buildings cover 52,500 sq ft and generate annual rent of £380,000.

They are part-let to tenants including Bank of China, China Visa Services, Remploy and Scanlans Surveyors.

The sale was handled by agents OBI Property and Savills. Gary Scorah, OBI investment Partner said: “After of period of inactivity in the market for properties similar to Mosley Street, a number of buyers are now finding potential value going forward through various asset management angles and longer term holds.

“Financing such deals will continue to prove difficult for the foreseeable future and therefore further syndicated purchases are likely.”