MCR Property Group has expanded its commercial property portfolio in South Manchester with the acquisition of Oceanic House in Atlas Business Park from Waters Group, which will be rebranded Altitude.
The 45,415 sq ft vacant office building has three floors and 231 on-site car parking spaces.
MCR said that it “plans to invest heavily in the refurbishment of the building”, which will include an overhaul of the whole building and a new reception area. The office accommodation is to be leased as a whole or on a floor-by-floor basis.
Other occupiers at the 225,000 sq ft Atlas Business Park include Vodafone and Simon Carves Engineering. The new Metrolink linking Manchester Airport and Manchester city centre stops directly outside the property.
Lambert Smith Hampton acted for the vendor.
John Poole, head of commercial at MCR Property Group, said: “Altitude is an excellent addition to our Manchester portfolio. The South Manchester market seems void of quality Grade A accommodation of this size, and we plan to capitalise on this opportunity. We are planning a comprehensive refurbishment of the building, due to complete by February 2016.”
Canning O’Neill and Cushman & Wakefield are joint agents for the scheme.