Canning O’Neill SIPP buys new base

The independent office agency practice has acquired premises to relocate to in Manchester city centre through its pension fund.

The firm paid an undisclosed sum for the freehold of the whole of 6 Hewitt Street through its Self-Invested Personal Pension, which will lease the accommodation back to the business.

The 5,000 sq ft two-storey building is located at the southern end of Deansgate in the Knott Mill, Castlefield area.

Canning O'Neill will occupy the upper floor, comprising 2,500 sq ft. The lower floor was sold earlier this year on a 150-year lease to television production company, Lion Eyes TV.

Canning O'Neill is currently based in Magnus' Arthur House, Chorlton Street and will move later in November.

Conrad O'Neill, director of Canning O'Neill, commented: "We have been looking to purchase our own building for some time and when this opportunity presented itself, it was too good to turn down. It is not easy to find smaller office buildings in Manchester city centre to buy and many are compromised by being split over too many floors and having no car parking on-site. 6 Hewitt Street gives us everything we need – plenty of space to grow on a single floor, together with on-site car parking. The location is fantastic, close to the Hilton hotel, Deansgate Locks, Manchester Central convention centre and First Street – with "Home", the new purpose built centre for contemporary arts under construction. The area is buzzing with dynamic businesses and we are looking forward to joining them."

The premises are currently undergoing refurbishment and fit-out works by Flexible Business Interiors. DWF advised Canning O'Neill on the purchase. Lambert Smith Hampton acted for the vendor, a private individual.

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It is inspiring when fellow leasing professionals show their entrepreneurial flair by structuring such complex deals. Furthermore, a cunning location indeed. This move will lead to a certain instruction on First Street. It also leaves them well positioned to dominate the Whitworth Street West office market.


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