Watch This Space buys city centre building for £1m

MANCHESTER property company Watch This Space has ended 2016 with the acquisition of 62 Bridge Street in the city for £1m in an off-market transaction.

The building in the Spinningfields comprises 4,784sq ft office space and there is an additional plot of land to the rear. The building, which was bought from Millbank Edge LLP, is currently 70% vacant.

Michelle Rothwell, founder of Watch This Space, said: “We are delighted that we have identified and acquired a scheme which has the potential to become a dynamic working environment, given the right attention.

“This building has been unloved for some time and needs new life injecting into it. We want to turn workspace on its head and create new ways of working.”
 
This latest deal rounds off a highly successful first year for Watch This Space since it launched back in March.

In the summer, the company acquired the former Duke William hotel in Staveley town centre, Cumbria and is currently working up plans to transform the scheme into “Billy’s Space,” a working environment for creative businesses in the area.

In September, Watch This Space completed the refurbishment of 31-33 Princess Street in Manchester fully letting the property prior to completion.

Watch This Space also launched the UK’s first property co-work space in July which is now 95% let.

Rothwell continued: “2016 has been an unbelievable year for Watch This Space. I believe we’ve quickly established ourselves in the property market as a developer with a ‘can-do’ attitude and our deals are testament to that. We have big plans for 2017 as we make further acquisitions and deliver new and exciting places for people to work…watch this space.”
 
Matthews & Goodman advised the vendor. Watch This Space represented itself.