Hermes buys Elliot House for £9m

Bruntwood has sold Elliot House in Manchester's Deansgate to Hermes Property Unit Trust for around £9m, a yield of sub-7%.

The grade 2-listed block on the corner of Lloyd Street has 21,000 sq ft of offices, and an 8,500 sq ft ground floor restaurant occupied by Living Ventures' Gusto chain.

Elliot House was built in 1878 for the council's education office, before becoming the city's registry office on 1969. The building was the temporary location for Manchester Central Library front-of-house services during the recent refurbishment.

Greater Manchester Chamber of Commerce signed for 8,500 sq ft in October. OBI Property is the letting agent on the building.

Hermes Property Unit Trust is one of the two property investment funds managed by Hermes Real Estate.

Tudor Toone acted for Hermes, Bruntwood represented themselves.

All parties declined or were unavailable to comment.