Iconic Canada House bought for £10.5m
THE Grade II-listed Canada House in central Manchester has been acquired by LJ Partnership for £10.5m.
The an off-market deal for the building on Chepstow Street was, advised by OBI Property, and brings LJ Partnership’s Manchester real estate portfolio to 170,000sq ft with a value of £40m with its sixth deal in 15 months.
Canada House was built in 1909 as a textile packing warehouse.
It comprises 72,000sq ft of office space and includes a gym and swimming pool.
LJ Partnership intends to work with the existing tenants, to transform the building, creating a variety of workspaces for Manchester’s growing community of dynamic businesses and charities.
Following refurbishment, the building will offer a range of available space from just 200 sq ft through to 34,000sq ft and will be available for occupancy from early 2017.
LJ says the renovation will seek to combine the building’s original historic features with the best of modern design; and will place an emphasis on sustainability and wellbeing, incorporating energy saving measures into both the refurbishment and the on-going management of the building.
Sam Lawson Johnston, director of real estate at LJ Partnership, said: “Canada House started life as a textile warehouse – sorting, packing and sending Manchester’s finest textiles all over the world. Our vision is to restore the building to its former glory, and to create a space where a diverse community of Manchester based businesses can once again trade nationally and globally.
“We are passionate about creating modern, dynamic work places that inspire people, improve communities and help businesses to thrive. This building provides a great mix of different workspaces and can therefore cater for a broad spectrum of Manchester businesses, from a single entrepreneur taking just one desk through to a large organisation taking a whole floor of 10,000sq ft.”
LJ Partnership is a private wealth partnership, which actively invests its own funds and that of entrepreneurs and wealthy families in the real estate sector.
LJ Partnership was advised by OBI Property.
Andrew Cowell of OBI Property, added: “Canada House is a wonderful character building and LJ Partnership is the perfect owner to sympathetically re-position the building and create a contemporary working environment.”
