IT firm buys in Trafford Park
Data-centre operator M247 has acquired the freehold of its head office from Commercial Development Projects for in excess of £1m through a commercial mortgage with HSBC.
After relocating from London to Manchester in 2009, M247 opened a 7,000 sq ft data-centre in leasehold premises in Trafford Park. The company later opened data-centres in two adjoining freehold premises purchased outright in 2011.
David Buckle, managing director of M247, said: "We have been developing a long-term business model and it simply makes good sense for us to own our buildings and infrastructure in order to give our customers the peace of mind that they can benefit from a long term relationship.
"M247 is a well-funded company that will stand up to any financial scrutiny and we have big plans for the future.
"We receive a lot of visits from our broad range of customers from all around the world who want to see a commitment to quality and security. We appreciate that they each have special requirements and unless we have complete control of our buildings, it would be difficult to offer them the special facilities that I'm sure make all the difference. Also, the somewhat subdued state of the current property market presented an opportunity to us that was just too good to miss. We felt that the price and the timing was just right for us to close the deal right now."
The company also has additional premises in Kidderminster where its managed services and data security operations are based.
M247 was advised by Bolton-based law firm Stephensons.
