Manchester International Office Centre traded for £14m
Put up for sale last October, the 90,000 sq ft complex close to Manchester Airport has a new owner in SiteQuest Group.
With agent Carrick Real Estate and asset manager Till AM working for the private owner, MIOC was put on the market in October 2025 with a guide price of £16m, around £2.5m north of what Highcross netted for the asset when selling in 2011.
The buyer is SiteQuest Group, represented on the deal by James Dickinson at Canning O’Neill and Gary Scorah of Commercial Properties, is a private family operation. The sale price was around £14m. Charles Street Finance supported the acquisition. Gorvins provided legal advice on the sell-side.
Bob Blackwell, managing director of SiteQuest Group, said: “We are delighted to have completed the acquisition of MIOC. It is a fantastic building in an outstanding location, with a superb community of occupiers, and it fits perfectly with our strategy of acquiring and improving well-located, multi-let commercial assets.
“This deal reflects the strong, continued growth of the SiteQuest Group, and we look forward to investing further in the building for the benefit of its occupiers.”
SiteQuest has retained Till AM, MIOC’s existing investment manager, to continue managing and modernising the building, maintaining strong occupancy and identifying further opportunities to create long-term value.
MIOC is located on 6.6 acres off Styal Road in Wythenshawe, just a few minutes’ drive from Manchester International Airport. Built in 1954, it has undergone a series of refurbishments since its inception. Till’s stewardship has seen entrance and reception remodelled, and a further £1m committed last year to revamping unlet space.
Coming in at 90,200 sq ft across three storeys, MIOC was at the time of being launched to market 95% let, generating an annual office rent of £1.8m a year. The rent rate average is £23/sq ft for the building – a number Carrick RE suggested there would be scope to increase, given prime rents for South Manchester offices being around £27/sq ft.
A new record for the sub-market was achieved this summer in Siemens’ move to Towers Business Park in Didsbury.
On-site amenities at MIOC include an on-site café, conference and meeting rooms, a gym with showers, and cycle lockers. MIOC also has 534 parking spaces, which bring in £75,650 in rent a year.
The freehold for MIOC is owned by Manchester City Council. The leasehold is for 169 years from 1982, meaning there are approximately 126 years remaining. The lease is subject to a peppercorn rent from the city council.
