BP Pension Fund has gone under offer to acquire the 95,000 sq ft Peter House from Patrizia for more than the £44m asking price.
Peter House, on the edge of St Peter’s Square in Manchester, is let to Regus’ co-working operator Spaces which occupies 85,000 sq ft on the upper nine office floors. The ground floor retail units are let to tenants included Papa John’s and hairdresser Terence Paul.
CBRE and King Street Commercial are representing Patrizia. The office was put on the market earlier this year; a sale at the £44m asking price would equate to a 5.25% yield.