Bolton-based developer, Hamill Investments, has completed the acquisition of Regatta House at Clippers Quay in Greater Manchester from GGM Properties.
Hamill will undertake a three-month refurbishment of the building, which is to be renamed HQ: Hamill at the Quays. The programme will see the transformation of the 14,220 sq ft scheme into 35 serviced office suites ranging from 107 to 538 sq ft.
Chris Neill, managing director of Hamill, said: "The scheme's waterside location and its close proximity to Media City UK, its transport links and future potential were the main factors that made this such an attractive investment opportunity. When complete, the scheme will represent a gross development value of approximately £7m.
Mark Canning of Canning O'Neill advised GGM Properties on the disposal and will be retained as sole agent on HQ. He added: "There are few opportunities in Salford Quays for smaller occupiers requiring less than 1,000 sq ft and particularly those requiring the flexibility that is provided in serviced offices.
"We are confident HQ will meet the current and future demand for serviced office accommodation, which is likely to increase with ITV's imminent relocation to join the BBC."
Hamill was unrepresented.