A Chinese investor has paid £2.8m at auction to buy Sentinel House in Eccles from Zincedge Properties with the aim of converting half of the 116,500 sq ft office building into a hotel.
Mingliang Chen outbid rivals to pay above the £2.5m guide price at the auction held by Roger Hannah & Co earlier this month.
The 15-storey office block is located on an island site bounded by Peel Street, Albert Street and Monton Road close to Eccles town centre. The remaining half of the building not converted into a hotel would remain as offices.
Sentinel House was one of 18 lots sold out of 30 offered at the auction. A total of £5m was raised in the last Roger Hannah auction of 2013. The surveyor has raised proceeds in excess of £20m in the first year it has held auctions, selling 230 lots at a 73% success rate.