Investor buys Skyline Central

SKYLINE Central, the Manchester apartment block with an 18th floor swimming pool, has been acquired by an unnamed buyer.

It was put on the market with a guide price of £20m in March by owner Wheatley Properties, a Hertfordshire firm controlled by Ann and Geoffrey Woods.

The final sale price was not disclosed.

The 19-storey Rochdale Road tower, which has 129 apartments, was built by Donal Mulryan’s West Properties. Jones Lang LaSalle was appointed to sell the building and said there was “an unprecedented” level of interest.

Tom Henry, residential director in the private rented sector (PRS) team at Jones Lang LaSalle, said: “The sale of Skyline Central 2 illustrates that as we predicted, demand for PRS stock in the regions is growing due to the higher income returns and increasingly positive prospects for capital growth.

“The building is the largest of its kind in the market and we expect to see more developments of this nature coming to fruition as interest in the Build to Rent sector continues to grow.”