Benmore sells offices for £4m

Belfast-based Benmore Group has sold 75 and 67-73 Mosley Street in central Manchester to a syndicate of private individuals.

The properties combined cover 52,000 sq ft and are partly let, producing an annual rent of £380,000. Tenants include Bank of China, China Visa Services, Remploy and Scanlans Surveyors.

Gary Scorah, investment partner at OBI Property, advising Benmore, said: "After of period of inactivity in the market for properties similar to Mosley Street, a number of buyers are now finding potential value going forward through various asset management angles and longer term holds.

"Financing such deals will continue to prove difficult for the foreseeable future and therefore further syndicated purchases are likely."

Savills and OBI advised Benmore.