An apartment building in Dale Street, Piccadilly, acquired out of administration by Yousef Tishbi's Realty Estates in January 2010, has been let to MAX Serviced Apartments.
The part completed Issa Quay development was acquired by Realty following the collapse of Iraqi entrepreneur Bashar Issa's fledgling property empire in 2008. Realty completed the project and Dale Apartments now comprises 85 one-, two- and three-bedroom flats, with reception, ground floor retail space and basement parking.
Shaun Skidmore, director of specialist markets at CBRE North West, advised Realty. He said: "The property was taken to market specifically targeting serviced apartment operators. We saw significant interest in the property as a result a new lease was subsequently negotiated with MAX.
"Demand for serviced apartment accommodation has remained strong throughout the UK, and Manchester is no exception; the city is one of Europe's primary business and leisure destinations with outstanding retail and offering numerous world-class tourist destinations and several prominent music venues."
MAX, based in Beckenham, Kent, currently operates in seven city centres.