MCR buys on Cambridge Street
MCR Property Group has exchanged contracts to purchase Hotspur House, a 19th-Century mill in Cambridge Street, Manchester, for around £2.5m.
The 56,000 sq ft five-storey warehouse was formerly used as a cotton mill, before being taken over by printing company Percy Brothers. The building was used as a printing shop until 2011.
The warehouse currently provides studio space for artists and musicians.
The building was sold by Liam Westaway, a director of Percy Brothers.
Hotspur House is near to the Macintosh Mills redevelopment, opposite a 280-apartment scheme which is currently under construction by Renaker Build.
Nick Lane, asset manager at MCR Property Group, confirmed the purchase and said: “This is a fantastic building in a great location, and the options are open. We are pleased to have acquired in our home city and are extremely excited about moving forwards.”
The area around Hotspur House could be affected by a compulsory purchase order as part of Network Rail’s extensive works at the nearby Oxford Road Railway Station. MCR said that it was proposing to work with Network Rail on the future of the site.
Oh dear this can’t be good news. Will we see another bit of our industrial heritage flattened? The writing has been on the wall for this building ever since they built that ghastly yellow car park just behind.
By Trouble at t' Mill again?
Don’t people work in this building? Every time I have passed it,it appears to be a hive of activity.It isn’t a particularly attractive mill,so perhaps a facelift is overdue.
By Elephant
Elephant, I thought so too…
Will be sad to see this building go, assuming that is the proposal.
By Bill
I don’t think MCR’s comment indicates they will be knocking it down – why is everybody assuming this?! Mill refurb apartments around Cambridge Street are currently going for about 15% premium over equivalent size new builds…
By Heritage
MCR are not normally known for sympathetic restorations but I look forward to seeing this being a new string to their ever growing bow.
By Demo man
Why does the article say “derelict” and not state what it is used for now? There are a number of businesses working in the building, and there are artist/recording studios being used in there too. It is an important part of Manchester’s cultural scene.
By gthomasart
I am 1 of around 10 business’s working out of this so called ” derelict” building – another load of independent business’s thrown out on to the street by manchester’s so called new cultural quarter – commercial quarter more like !
By Hotspur house
I also run a small business out of this ‘derelict’ building, and reading this article is the first Ive heard that it is has been sold. Thanks for the heads up!! Guess I’ll be looking for a new workshop, again. This isnt the first space Ive had that has grown via its ‘cultural hub’ tag only to be sold off to developers.
By kickedtothekerb
Can’t you get the civic society to get it listed. That’s what happened I think with heaps rice mill in Liverpool.
By Mary Smiley
That’s my studio. Great to have the prior warning.
By Anonymous
This article is fake. The owner has confirmed no such sake has taken place.
By Red Door
New owners won’t be kicking people out but the future is flats
http://www.manchesterconfidential.co.uk/property-and-business/manchester-property-round-up-august-2015
By Tenant
I worked in this building for some 40 years. I joined Percy’s as there accountant, then chief accountant, then a director and finally managing director. We were also very keen to make sure the building was kept painted and the pavements swept daily. I was dismayed to see its present dilapidated state. I believe the new owners are going to bring it back to life like someone has with Dunlops building next door.
By I. M. Eastabrook
This just needs a facelift.
By Elephant
I was intrigued by the back of this building, spotted while waiting for a friend near HOME yesterday. As I was early, I strolled round the block to look at the front and wish I’d been able to take photos: old brass nameplates, weeds thriving amongst purple bricks, an extended family of intercoms through the ages, lovely curved side wall overlooking ducks on the Medlock. With sensitive development, flats here would be full of charm and character.
By PasserBy