The urban regeneration company has bought 55-60 Salmon Street in Manchester city centre for £850,000.
The building comprises 8,500 sq ft offices with a restaurant on the ground floor and a 1,000 sq ft plot of land to the side. The offices on the top floor are occupied by short term tenancies.
Michelle Rothwell, founder of Watch This Space, said: “Our plan is to refurbish the offices to create creative work space and we’re looking at ways to further maximise the value of the site, potentially through development of additional land.”
This acquisition marks the developer’s third office development in Manchester city centre since the company launched a year ago. Watch This Space purchased and refurbished 31-33 Princess Street, which is now fully let and home to That Space, Watch This Space’s co-working environment for property professionals. This was followed in December by the £1m acquisition of 62 Bridge Street, a 4,800 sq ft office building, which again was bought off-market and will be used to expand That Space.
The building was sold by Andrew Illingworth, who was advised by Roger Hannah & Co.
Watch This Space represented itself.