Investream buys first Manchester office for £7m
In an off-market deal, the London-based investor has purchased its first property in Manchester, buying the 40,000 sq ft Brook House at 64-72 Spring Gardens from Lumina for around £7m.
The company, founded in 2002 by former JLL directors Mark Morris and Maurice Golker, is now planning a full-scale refurbishment of the building to create a “high-end” office scheme.
The building bordering Fountain Street and Spring Gardens was bought by MCR in 2007 for £7.4m, from a Swiss-based private investor. Current occupiers include Ralli Solicitors, Terence Paul Academy, and OPS International.
Property consultant Sanderson Weatherall moved out of the building in 2014 after relocating to The Chancery.
Sixteen Real Estate acted on behalf of Investream, while Zaman Roberts acted for Lumina. Sixteen and Investream declined to comment.