Highcross buys Deva Centre from Benmore
The Deva Centre for small businesses on Trinity Way in Salford has been acquired by property fund manager, Highcross, for £10.4m.
The 83,500 sq ft office building comprises refurbished brewery buildings and a new development of 17 self-contained office units. Occupiers include Handelsbanken, WRG Creative Communication, Late Rooms, QBE and Royce Peeling Green Accountants.
Richard Pellatt, director of Highcross' Northern office, said: "The Deva Centre is an attractive, flexible business village in a great location close to Manchester city centre. The scheme offers strong potential for us to add value via our intensive approach to asset management and we also plan to raise its profile and enhance pedestrian links to the central business district."
The deal is the latest in a series of significant office purchases by Highcross' Northern regional team in recent months, including a £9m portfolio of office buildings in Preston, Leeds, Sheffield and Hull and the acquisition of a Teesside business park in a £10 million deal.
In March 2008, Highcross raised £450m in equity for its third UK property fund, taking the combined potential value of its three funds to £3bn.
Highcross was advised by JLL and WHR Property acted for the vendor.