CDP snaps up 1 City Road in mystery deal

Cushman & Wakefield has sold the property 1 City Road in Manchester to Yorkshire-based development specialist CDP for an undisclosed price for an unnamed institutional investor.

The building comprises 49,000sq ft and sits on a site of 1.3 acres.

The distinctive glass office building is adjacent to the First Street development on one of Manchester’s main arterial routes.

The building is currently home to Gazprom, Kay Johnson Gee and First People Housing Association.

Rob Prescott, associate at Cushman & Wakefield who advised on the deal, said: “Following the delivery of high quality office space and associated amenities at First Street, the immediate environment has improved dramatically.

“As a result occupation demand has increased and we have been very successful leasing the vacant accommodation. 1 City Road is now largely occupied. CDP were appreciative of these facts and performed quickly to secure the opportunity.”