O&H Properties has sold a 31,000 sq ft office opposite Manchester United’s Old Trafford stadium to Acre Manchester, a subsidiary of Westcombe Group, for £1.9m.
Canning O’Neill acted for O&H.
Located at the junction of Chester Road and Warwick Road, 701 Chester Road is made up of six storeys and is part let to tenants including Manchester United, Hilson Moran, ORC International and National Housing Federation.
Conrad O’Neill, director of Canning O’Neill, said: “We had a huge amount of interest in the property and the purchaser moved very quickly to secure the building, exchanging contracts just seven working days after the agreement of terms.
“The strong existing tenant line-up and the improving out of town office market made 701 Chester Road an exciting opportunity and this deal is further evidence of the strength of the investment market in Greater Manchester. The continued improvement in the occupational market and the potential for alternative use at a later date make this a strategic purchase for Acre Manchester.”
Canning O’Neill has been retained as joint letting agents with Cushman & Wakefield to market the vacant office space. There is currently a total of 9,850 sq ft of offices available to let.
Acre Manchester was not represented in the transaction.