Acquisitive Northern Group swoops for Siemens HQ

The Manchester-based developer has made the 88,700 sq ft building and surrounding seven-acre site off Princess Parkway its third buy of the year.

Northern Group has acquired the Siemens HQ from the global technology group for an undisclosed sum. CBRE marketed the asset for sale with a guide price of £8.9m last year.

The Siemens building acquisition completes a hat-trick of purchases for Northern Group so far in 2024. The firm has already expanded into the city centre buying 76 King Street and 19 Spring Gardens.

Built in the 1990s, the Art Deco-style Siemens headquarters provides workspace across three floors and benefits from 344 car parking spaces.

The building is let to Siemens for at least another two years. In the meantime, Northern Group will explore possibilities for the site in the longer term.

Northern Group chief operating officer Paul Dobbs said: “We have worked hard to bring the Siemens site inside our growing property portfolio and are delighted with this latest acquisition for Northern Group.

“The Siemens building sits within a highly connected and superbly located plot that, in time, will be reimagined with Northern Group’s signature commitment to high design, maximum use and high standards of service and delivery.”

Northern Group represented itself. CBRE advised the vendor.