Hyphen, Blue Caost, p RDPR

The building last traded in 2015. Credit: via RDPR

Boultbee Brooks sells 63,000 sq ft Hyphen 

Blue Coast Capital has acquired the Manchester office building in a deal understood to be worth around £22m. 

Hyphen, located on Mosley Street, provides 63,000 sq ft of workspace across seven floors, as well as a communal roof space, a coffee shop, and a gym. 

The asset was last refurbished in 2020, the same year WeWork pulled out of a deal to occupy the whole of the building. 

Boultbee Brooks acquired Hyphen, situated at 75 Mosley Street, as part of a £16m portfolio acquisition from M20 Property Group in 2017. 

The assets included in that transaction were 67-75 Mosley Street, 79 Mosley Street, and Castlefield Chapel. Boultbee Brooks sold Castlefield Chapel to Shirestone Estates in 2016 and last year offloaded 79 Mosley Street to Biz Industrials, according to Land Registry.

Aurum RE advised Boultbee Brooks on the Hyphen sale and OBI advised Blue Coast Capital. 

Scott Gemmell, part of OBI’s investment team, said: “The city centre office market has proven to be extremely resilient with excellent fundamentals. 

“Hyphen offered the opportunity to acquire a fully repositioned, amenity-rich office asset in a prime micro-location. We look forward to assisting in taking the building up to full occupancy, benefitting from the continued strength of the underlying Manchester occupational market.”  

Your Comments

Read our comments policy

Ooh…but the office is dying.. honest bro, it was on instagram ..true story. why are they spending many millions on this. I’ve seen the future, it’s bedrooms.

By Cal Amity

Frankly I think this one should be a prime candidate for redevelopment. This is an eyesore and it evokes a dated, depressing, 1970s workspace. There’s something to be said for external appearance as an underappreciated aspect of the value proposition. There’s a reason the big four and their ilk go in for imposing glass-clad skyscrapers – they look modern, expensive, prestigious. And they impress that feeling of value onto clients and partners. I’m not an asset manager but I’d be wanting to look very closely at the yields from this building as it stands versus what redevelopment could offer. A feasibility study is called for. Offices are a buyer’s market and Hyphen is a dated product in a field that’s moving upmarket.

By James

Great deal in increasingly challenging times. Full credit to all parties involved. Manchester will make its own path.

By Anonymous

It’s almost as if James hasn’t actually been inside the building?

By OfficeFan

@James – The building was comprehensively refurbished at the start of 2021 and is now fully let, despite Covid being in the middle of this… think there are many other prime candidates for redevelopment?!

By Anonymous

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox


Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below