Glenbrook makes £1.3m Oxford Place purchase

The developer’s investment team has acquired a 7,550 sq ft retail parade of four units on Manchester’s Oxford Road.

Three of Oxford Place’s four ground floor retail units are already let to Starbucks, the Brazilian Waxing Company, and eCigs Warehouse.

According to the HM Land Registry, the building’s title is owned by MT Finance.

A single 2,750 sq ft unit is available to let on a leasehold basis with Metis, which represented Glenbrook throughout the acquisition, and has been retained to let the space.

Scott Griffiths, investment director at Glenbrook Investments, said: “The remaining unit represents a significant opportunity to increase the value of this asset and further improve the offer in this ever-evolving part of the city.

“Oxford Place occupies a prime pitch on a thriving city centre corridor.”

Oxford Road stretches south from St Peter’s Square in the city centre and is home to a range of universities and research institutions, as well as a substantial amount of student accommodation blocks.

Savills acted on behalf of the vendor, while Metis Real Estate represented Glenbrook Investments in the £1.3m deal.

Johnathon Mill, investment director at Metis, added: “With millions of pedestrians passing through each year, Oxford Road benefits from exceptional footfall and makes a significant contribution to Manchester’s £3.5bn annual retail spend.

“Oxford Place represents an attractive value-add investment, and we were delighted to act for Glenbrook Investments, which recognised this potential.”