Himor Group has sold its former head office building in Manchester city centre to CBRE Global Investors for £6.94m, reflecting a net initial yield of 5.62%.
The 17,500 sq ft six-storey building on Clarence Street was bought by Himor in 2011 for £2.8m, and was then given a comprehensive refurbishment.
Himor, the land and property company owned by Bill and Will Ainscough, relocated from the top floor of Clarence House to Carrington Business Park in Trafford last summer, after Himor took over the ownership and management of the 1,655-acre former Shell refinery.
Current tenants in Clarence House include Saunders Partnership, Infinity Asset Management, Spatial Office Environments, Glenbrook Assets, Primary Capital Partners, Applied Card Technologies, Silven Recruitment, Premier London and Viridor Waste Management.
Will Ainscough, managing director at HIMOR said: “Clarence House provides a first class standard of building amenity. Its enviable location and contemporary office space is a fantastic draw for occupiers, and the building itself has undergone a complete transformation. We wish the new owners all the best as custodians of this unique and endearing property.”
WHR and Lockett Loveday McMahon advised Himor. CBRE and DAC Beachcroft acted for CBRE Global Investors.