Roger Hannah buys own office

Roger Hannah & Co has acquired the long leasehold interest of the office it occupies at Century Buildings, Parsonage Gardens in central Manchester.

The property advisor took advantage of an option agreement that it held with landlord, Property Alliance Group, acquiring the 9,500 sq ft office premises for £1.25m.

The transaction reflected an initial net yield of 9.04% with Roger Hannah & Co being the single occupier paying a rental of £119,500a year.

Simon Cook, director of Roger Hannah & Co, said: “The acquisition is part of our commitment to increasingly make the business a force on the Manchester property scene and should enable us to further expand our Manchester operations. As owner occupiers we received fantastic support from both the National Westminster Bank, who showed a real appetite to lend in an increasingly improving market and from our solicitors, Myersons.”