Castlebrooke Investments has exchanged contracts to buy CIS Tower in Manchester’s NOMA estate for £66m.
In January, it was rumoured that Colliers International and JLL had been instructed to run the sale process in a restricted manner, only inviting in specific buyers.
The grade two-listed, 28-storey building, sits at the centre of the NOMA estate and is fully occupied at present by various parts of the Co-operative Group.
The building was completed in 1962, at which time it was the third tallest in Europe, and stands at 118m. The net internal area is listed on the NOMA website as 361,700 sq ft, with gross internal area at 487,185 sq ft.
Castlebrooke is a London-based investor developer headed by ex-Carisbrooke men Neil Young and Jonathan Mitchell. The company is also behind the development of the 178,000 sq ft Landmark office on the former Odeon site in Manchester’s St Peter’s Square.
CBRE advised Castlebrooke on the purchase.