Two deals done on Brookfinch’s Margolis building

Michael Hunt

Brookfinch has completed two separate deals on its Margolis building in the Northern Quarter, Manchester.

Local People CIC, which advises local and central government on youth matters, has acquired the entire 736 sq ft penthouse suite on a freehold basis for £230,000, equating to £312/sq ft.

Elsewhere, Tree Accounting has let 1,227 sq ft Number Three Kelvin Street, one of the development's self-contained ground floor 'cottages', on a 10-year lease with a five-year break.

The 19,000 sq ft office development is located on the corner of Turner Street and Kelvin Street in the Northern Quarter and comprises a mix of new build and converted Grade II-listed mills and cottages. The Margolis building provides 16 units for sale or to lease, ranging in size from 400 sq ft to 2,436 sq ft.

Andrew Johnson, surveyor at Knight Frank Manchester, agents for the scheme, said: "The offices can be purchased through a SIPP which provides tax savings. This coupled with the affordable prices has proved a great success and we have now disposed of 10,300 sq ft in nine separate units and have only 8,400 sq ft of space remaining."

Local People CIC and Tree Accounting will join existing occupiers Planscape Group, IRG and Agenda Media.

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