Manchester Business Park sold for around £19.5m

Manchester Holdings, owned by the Hill family, has acquired the 195,000 sq ft office asset close to the airport.

The investor acquired Manchester Business Park, which is made up of four buildings on a nine-acre site off Aviator Way, out of receivership. It was previously owned by Jersey-based JUKV Manchester Business Park Limited.

The asset is 94% let to the likes of PZ Cussons, Emirates, Costain, and Regus. There is 11,675 sq ft of space available in Building 1000.

BNP Paribas was the fixed charged receiver. Colliers, Savills, and DLA Piper acted for BNP and JMW advised the purchaser.

Tom Hill of Manchester Holdings, said: “Manchester Business Park is a strategic investment opportunity for us. Thanks to its high calibre of occupiers, the incredible location, and high specification office buildings, the space has great potential, and we’re looking forward to working with the tenants to maximise this.”

Dominic Pozzoni, Colliers’ head of national offices, added: “Manchester Business Park is a well-established and highly sought-after office location, offering modern workspace and excellent parking provision. Its strong transport links and proximity to Manchester Airport make it a prime choice for occupiers and investors.

“Manchester remains one of the UK’s most dynamic office markets, attracting global businesses and significant investment thanks to its talent pool, infrastructure, and growth potential. We’re proud to have supported this strategic acquisition and continue to help clients capitalise on opportunities in this thriving city.”

Thomas Pearson, Head of Commercial Real Estate, JMW, said: “We are delighted to have advised on this significant acquisition, which reflects the continued strength of the investment market in Manchester.

“Transactions of this scale require a proactive and collaborative approach, and it was a pleasure working on this successful project.”

The deal follows Ask Real Estate’s purchase of the neighbouring development plot from Advanced Research Clusters. The developer has worked up plans for a 115,000 sq ft multi-let industrial scheme.