Property briefs: 55 Spring Gardens; Slater & Gordon; retail deal

CBRE Global Investors is planning a £4.5m refurbishment of 55 Spring Gardens in Manchester city centre.

It has appointed Manchester-based Fletcher Rae Architects and interior fit out company, Space Invaders to carry out the work at the building it bought from law firm Linder Myers last year for £11.6m.

Planning permission has been submitted for the works which will include a new entrance and facade. CBRE Global Investors acquired the 50,000 sq ft building last October.

CBRE’s Rob Trevor said: “We are very excited about this new venture, which is set to radically transform this building to provide exceptional office and retail accommodation and an impressive, striking entrance in one of the city’s most important business locations.”

Bob Fletcher, managing director of Fletcher Rae, said: “I am delighted to be appointed to redesign the main entrance and reception at 55 Spring Gardens. The challenge of Spring Gardens is to create a radical change of perception and interior design. Our design solution removes a large eight-storey staircase feature to the main entrance facade which is limiting natural light and connectivity with the street scene. We propose to create a striking two storey portico feature in glass, which is internally illuminated with LED lighting.”

Linder Myers originally bought the 50,000 sq ft building as an investment in 2011 and sold up as part of a sale and leaseback deal. It staff are expected to move in from offices in Cross Street, York Street and 19 Spring Gardens next year.

Tony Stockdale, chief executive of Linder Myers, said: “We are very pleased with the significant investment in the refurbishment of 55 Spring Gardens which, on completion, will provide first class office space for Linder Myers. We’re currently recruiting across a number of departments and the first 100 days following the completion of the unique deal with Assure Law has proved very positive as we take the business forward into a new chapter.”

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INTERIORS group TSK has won the job to fit out 58 Mosley Street for the Australian law firm Slater & Gordon.

The firm, which has acquired Russell Jones & Walker, Pannone and Fentons since its entry into the UK market in 2012, has agreed to take the whole 105,000 sq ft building which was home to Cobbetts until it went into administration early last year.

The deal includes a Mosley Street retail unit which will give Slater & Gordon a shop front.

TSK’s managing director Andrew Burns said: “To be appointed by Slater & Gordon to design and build their prestigious Manchester office is testament not only to the quality of TSK’s personnel but also our approach to projects.”

Neil Kinsella, head of Slater & Gordon in the UK, said: “We want to be able to provide a first class office environment for our clients and staff in Manchester. Our people have been based around several different sites in the city for a number of months and everyone is excited that we now have a schedule for when we will all be working out of one Manchester office.”

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TWO retail units in Middleton Road, Crumpsall, Manchester, have been sold to MRP, a Nottingham property company, for £553,800.

One of the units is vacant and the other is let to Johnstone’s Paints on a 15-year lease from November 2004 at a rent of £48,120 a year.  

Further income is generated from advertising panels let to Primesight.
 
Commercial agent TFC acted for the vendors PwC, which has been appointed administrator to Ogden Waller Properties.
 
TFC director Ben Fallows said: “There was a great deal of interest in this investment with five bids submitted and we were delighted they had exceeded the asking price. Hopefully, this is a reflection of the much vaulted return of confidence in the market which is now definitely showing slow but sure signs of improved activity.”
 
Richard Anderson of MRP said: “These are well-located roadside units on a main arterial road into Manchester. We already have occupier interest in the vacant unit and we believe that this will be a very good long-term investment.”
 
MRP was represented by Heb Surveyors of Nottingham and London.