The Department for Work and Pensions has pre-let Mesnes House from landlord Caro, which is currently refurbishing the property.
Caro purchased the three-storey Mesnes House from Rathbone in 2020.
“We acquired the building because we could see that the local market was lacking in sufficient good quality space and this satisfying pre-let supports our analysis,” said Caro managing director Neil Carlyle.
DWP has taken a five-year lease on the property at a rent of £120,000 a year.
Caro said that Mesnes House would be ready for the DWP to occupy it in early 2022.
Mesnes House is opposite Mesnes Park in Wigan and sits off Bridgeman Terrace.
Caro was represented by Andrew Owen of Worthington Owen on the deal, while the DWP was represented by Toby Nield of LSH. Brabners provided legal counsel to Caro.
Mesnes House is just part of Caro’s ambitions for the future.
“Our strategy is to add to our investment stock to further underpin our balance sheet and we are on the lookout for more opportunities of this type,” Carlyle said.
“There are numerous strong secondary markets like Wigan that are overlooked, and we have the firepower to deliver good quality stock to them.”