Altrincham’s Stamford House sold for £6m
Pervaiz Naviede Family Trust has acquired the mixed-use property on the corner of Stamford New Road and Moss Lane from Manchester-based investor Petros.
The four-storey block comprises two elements, the Stamford New Road Building and the Moss Lane Building, which together provide 30,000 sq ft of retail space across nine units at the ground and basement levels, and 24 two-bedroom apartments on the upper three floors.
Atlanta Chambers, a two-storey commercial building within the courtyard of Stamford House, is also included in the acquisition by the Salford-based group of family trust vehicles,which owns LPC Living, among other outfits.
Daniel Lee, director of Regional Property Solutions, which acted jointly with Savills on behalf of Petros, said: “This investment sale sets a new benchmark in Altrincham as the largest mixed-use investment transaction to be completed in the town centre.
“Stamford House is one of the most notable buildings in the town and we generated a great of interest in the sale.”
Built in 1905, Stamford House was designed by Manchester architect Charles Heathcote and refurbished by Petros in 2014 to provide the commercial accommodation and apartments.
Freddie Guest, associate director at Savills, said: “The value of this transaction marks a milestone for Altrincham town centre. Situated in one of Manchester’s most sought-after suburbs, this is a landmark building and its sale is reflective of strong investor appetite for such prime mixed-use assets”.