Angelo Gordon, together with its joint venture partner, Dunedin Property, has appointed London-based contractor Bluu to carry out a £1m refurbishment of Churchgate and Lee House, Manchester.
The joint venture partners acquired the two buildings, situated on the corner of Oxford Street and Great Bridgewater Street, from CBRE Global Investors last year for a figure in the region of £20m.
The offices, totaling 240,000 sq ft, are currently let to tenants including Manchester Chamber of Commerce, Economic Solutions and London School of Business & Finance.
Anuj Mittal, real estate senior professional at Angelo Gordon, said: "Our decision to carry out extensive refurbishment reinforces our commitment to improving the offering of these landmark buildings.
"We are confident that Bluu will use their skills and expertise to help us realise our vision for the building. We have an excellent team, including our appointed agents CBRE and GVA, working to bring an exciting and competitive product to the market."
Alex Russell, associate director of CBRE, said: "Last year's take up was dominated by buildings quoting between £15 and £20/sq ft.
"When the works are completed in the spring, Churchgate and Lee House will offer this price, plus the added benefit of providing large and efficient floor plates catering perfectly for the demand that we expect to continue throughout 2013."