Bid deadline looms for RBS blocks
INSTITUTIONAL investors are preparing bids for two flagship Manchester office buildings with a total value of £300m.
The 350,000 sq ft 1 Hardman Boulevard and the 150,000 sq ft 1 Spinningfields Square are up for sale after the nominee companies that owned them on behalf of London investor Matrix went into administration last month.
The EY Real Estate corporate finance team and Savills were appointed to dispose of the buildings and the deadline for bids is on Friday.
Both offices are fully let to the Royal Bank of Scotland for another 24 years and are said to have attracted strong interest as the investment market in the city heats up, illustrated by Schroders’ £132m deal to buy Bruntwood’s City Tower earlier this month.
Alan Bloom, Ben Cairns and Craig Lewis of EY were appointed joint administrators to Plot 101 Nominee Limited, Plot 101 Nominee 2 Limited, Plot 403-405 Nominee Limited and Plot 403-405 Nominee 2 Limited.
They are all owned by London-based Matrix Spinningfields, a joint venture between Robert Randall and Matrix Securities which went into administration in 2012.
EY declined to comment on the sale.
