A 15,580 sq ft historic warehouse in Manchester city centre has been bought by Cringle Corporation for in excess of £2m.
The four-storey 40 Chorlton Street was marketed on behalf of LPA Receiver Steven Kay at Waterfold Asset Management as a development opportunity with further expansion potential. Joint agents on the property were CBRE and Avid.
The warehouse could be extended to 21,200 sq ft by an infill to the fourth floor and constructing an additional fifth storey. The property was formerly home to Mash & Air restaurant and Jongleurs Comedy Club.
Nick Huddleston, surveyor at CBRE, and Justin Rouse, director at Avid, said: "Interest was strong with and a number of bids being received very early in the marketing process. The pricing achieved and the interest received from a number of Manchester and London based investor developers further demonstrates the increasing appetite for Manchester City Centre development opportunities."
Josh Senior, director of Cringle Corporation said: "We are very excited to acquire this prominent building in Manchester City Centre, as we strategically increase our investment in the area. We will continue to look for development opportunities throughout Manchester and the wider UK."