International House on Deansgate in central Manchester has been acquired by a private investor from Merchant Investors for in excess of £7m.
The six-storey building, which has Café Rouge and the Sofa Workshop on the ground floor, totals 46,000 sq ft including 37,000 sq ft of offices on the upper floors, the majority of which are vacant.
Gary Scorah, partner in the investment department of WHR Property Consultants, advisor to the buyer, said: "This was a great opportunity to acquire a prime city centre office building which is prominently located close to the city's main shopping areas and has excellent long term potential. Our intention is to carry out a comprehensive refurbishment of the property to provide Grade A refurbished accommodation to suit the city's growing tenant population."
Scorah continues: "There is still a strong market for refurbished office accommodation – particularly at sub £20 per sq ft and the size of the suites will appeal to many of the city centre's existing occupiers."