Chinese investor buys Eccles office block
A CHINESE investor has bought an Eccles office block for £2.8m and plans to turn part of it into a hotel.
Agent Roger Hannah & Co said Dr Mingliang Chen bought the 116,000 sq ft Sentinel House in Peel Street at its December auction off a guide of £2.5m.
He plans to convert half into a hotel and retain the rest as office space, according to Roger Hannah. It was sold by Zincedge Properties, owned by Narinder Singh Chadha.
The auction raised £5m and took overall sale proceeds for the year to more than £20m. A total of 230 lots were sold.
The firm’s Stuart Cooper said: “The latest results are the best since our inception just over 12 months ago. This gives us real impetus to move into 2014 in quietly confident mood. Hopefully the market will continue to improve and we can continue to provide excellent results for our ever increasing client base.”
