Developer acquires landmark building

A Nottingham property developer has acquired a 30,000 sq ft commercial building in Hanley town centre, Staffordshire.

GAPE Equity, a subsidiary of ALB, which has previously been involved in the regeneration of various urban buildings in and around the Midlands and the North, acquired Moxon Island at the apex of Piccadilly Street and Stafford Street in early October for an undisclosed sum.

Arran Bailey, ALB managing director, said: “This is a fantastic investment for us. It occupies a key retail position in the centre of Hanley, right at the junction of several important shopping thoroughfares and it has plenty of well-established commercial tenants already in situ.”

The building is currently home to retailers including The Works Bookstore, Specsavers Forbidden Planet, Schuropody, Central Store Newsagents, Rowfers and the PDSA.

Only two of the ground floor units remain vacant.

Bailey added: “There are going to be some exciting new tenants for the vacant units but we can’t go into details about that quite yet.

“In the meantime, I simply want to say that we’re delighted to have acquired this landmark building and to be in a position to consolidate its role as a key commercial hub for Hanley and its residents.”