Quasar Real Estate, part of Jolivet Group, has acquired a building in South Manchester, let to Simpson Millar Solicitors as its largest office, for almost £2m.
The 17,147 sq ft five-storey office is at 100 Talbot Road, directly opposite the Emirates Cricket Ground and Old Trafford Metrolink. The property is single-let to Simpson Millar, which is part of Fairpoint Group, on a 10-year term from 2015.
The building was sold by CBRE’s capital markets team on behalf of a private client.
CBRE research shows that the Old Trafford and South Manchester out-of-town office markets have proven to be resilient over the last five years, with combined take-up for both markets standing at 700,000 sq ft for the last two years.
Take-up in Old Trafford has increased by 50% since 2011 and nearby occupiers to 100 Talbot Road include Kellogg’s, United Utilities, Greater Manchester Police and Trafford Council.