Manchester office block sold for £6.5m

Ventnor Group has disposed of Fifteen on Quay Street, a 21,500 sq ft six-storey building, to a London-based purchaser.

OBI represented the vendor on the deal, with Haida acting for the buyer.

Having managed the building for long-standing client Ventnor since it acquired the block from Capital & Centric in 2017, OBI has since rebranded and partially remodelled the space.

The current tenants of the Stephenson Hamilton Risley-designed building are Handelsbanken and wealth management software provider Bravura Solutions.

Scott Gemmell, who heads up OBI’s capital market’s team, said “Our clients re-positioned the asset and enhanced rents since they purchased the building in 2017, to create a desirable multi-let asset.

“We transacted on an off-market basis and we believe this is the start of a flurry of activity of new investors targeting city centre assets. Again, Manchester is showing its resilience and ability to attract new capital from a fresh source of investors.”

Christian Anderton, founder and chief executive officer of Haida, added: “After OBI’s work on remodelling Fifteen on Quay Street, the building serves as an inventive, stylish and agile workspace that impressed the investors from the offset.”