Bilsdale sells 80 Mosley Street for £12.1m

Bilsdale Properties, the manager of the family trust of the late steel magnate and former Blackburn Rovers FC owner Jack Walker, has sold the offices at 80 Mosley Street in Manchester for £12.1m.

The sale to an undisclosed institutional investor represents an investment yield of 5.05%.

The 31,890sq ft Grade A building has been owned by Bilsdale since 2004. Tenants include create agency 90 Degrees, Taylors Solicitors, asset managers Close Brothers and coffee shop Neros.

OBI Property represented Bilsdale Properties on a joint agency basis with London-based Fletcher King.

Andrew Cowell, transactions and asset management, OBI Property, said: “We sold 80 Mosley Street in an off-market transaction and the price shows how strong Manchester is as an investment proposition.  

“Since we started OBI, we have been involved in leasing the whole building and with the on-going asset management, we are delighted to have seen this all the way through, and maximise value on our clients exit.  We look forward to remaining involved with the new owners.

“80 Mosley Street overlooks the newly transformed St Peter’s Square and its sale confirms investor demand for this new prime office location following Deka’s purchase of One St Peter’s Square and Deutsche Bank’s acquisition of 2 St Peter’s Square.”

The purchaser was represented by Chris Freer-Smith Ltd, London.

OBI Property is an established real estate consultancy which provides innovative solutions to its landlord and occupier clients which include AO.com, NCC Group, Rentalcars.com, Allied London, Bruntwood, LJ Partnership, British Airways and CBRE Global Investors.

OBI provides advice to its clients across its multi-discipline services which include interior design, project management, dilapidations, ratings, leasing and investment consultancy.  The collection of services is known as the OBI Difference.