Pure Offices has acquired a 36,400 sq ft office in Cheadle Royal Business Park from Target Real Estate, and is set to refurbish the building in order to deliver serviced offices.
The 3400 Lakeside property was bought in an off-market deal, with Pure advised by Carrick Real Estate.
The scheme would be Pure’s 21st serviced office to open in the UK since its inception in 2007. Pure said it will now start a £1.9m fit-out of the three-storey building, which is due to be completed in autumn 2018.
The site would provide suites from 100 sq ft up to 3,000 sq ft, let on flexible rolling monthly contracts, including broadband and a telephone.
Other occupiers at Cheadle Royal include Capita, Balfour Beatty, De Vere and Trinity Pharmaceuticals.
Katie Whell, managing director, Pure Offices, said: “Today’s business customers are increasingly looking for flexibility. Not only with their spatial requirements but also with their tenure. Pure Offices fulfil these criteria, working with the occupier to provide the optimum workspace solution for their business.”
Steve Carrick of Manchester-based Carrick Real Estate, represented Pure Offices in the transaction and previously acted on behalf of Pure Offices owner, Northwood Investors.
Carrick said: “Pure Offices brings a refreshing and competitive serviced office alternative to the North West, where there is great demand from entrepreneurs and growth businesses for transparent and flexible leasing terms and office provisions. 3400 Lakeside and Cheadle Royal Business Park have proven to be highly successful business locations and we are pleased to have been able to move quickly to secure this successful transaction.”
Target Real Estate was unrepresented.