Titan Investors has sold the 48,000 sq ft office block in Manchester city centre to FORE Partnership, more than a year after being granted planning permission for a 175,000 sq ft redevelopment.
Titan’s plans for the site at 24 Mount Street were approved by the council in October 2015. The proposals outlined the demolition of the five-storey London Scottish House to be replaced by a 17-storey office, to be known as the Assembly building.
London Scottish House is next to the Midland Hotel, and opposite the Manchester Conference Centre.
Titan bought London Scottish House in 2012 from the National Asset Management Agency and Walls Developments for around £5.5m.
Walls had previously earmarked the site for a 220,000 sq ft office development, although it is understood that Manchester City Council would only agree to a 160,000 sq ft scheme.
FORE is expected to bring forward the office development on Mount Street, “offering high-quality, flexible office space”.
Lambert Smith Hampton advised FORE, while Titan was represented by Zaman Roberts.
FORE is a property investment platform for UK and European family and private investors.