MIOC sold for £13.5m
Property finance firm Infinity has acquired the 100,000 sq ft Manchester International Office Centre situated adjacent to Manchester International Airport for £13.5m.
The building, which has undergone a refurbishment, comprises 42 office suites, ranging from 400 to 16,000 sq ft, and is set within 6.6 acres.
Property fund manager Highcross sold the south Manchester office building to Infinity, after purchasing it from BAE Pension Fund for £16.5m in 2008.
MIOC is less than a mile from junction 5 of the M56 motorway and is a ten minute walk from Heald Green Railway Station. Current occupiers include Franke, Federal Mogul, and Belden.
Infinity has worked alongside a number of partners on the deal. These include Barclays Corporate led by Kevin Harwood, commercial real estate agents Knight Frank, led by Steven Carrick, and solicitors Brabners Chaffe Street, led by Matthew Dobson.
Harwood said: "This is a large property transaction in the North West and the first new transaction Barclays Corporate has completed with Infinity. It demonstrates our appetite for providing funding support to quality businesses in the region. Barclays is a strong UK bank with significant growth aspirations and we look forward to assisting Infinity on more opportunities in the future."
Infinity Real Estate's current portfolio includes, amongst others, 53 King Street in central Manchester and The Albany Building, Liverpool.