Northern Group continues spending spree with Cheadle Royal buy
The Manchester-based investor has bought the 16,400 sq ft Wienerberger House from Custodian REIT.
Northern Group bought the Cheadle Royal Business Park asset for £2.9m. Wienerberger will remain in-situ following the deal.
The deal is Custodian’s second sale in Cheadle in short order. The listed property company sold Lakeside 5500 to Bracken for £4m.
The acquisition of Wienerberger House is the fourth buy inside a year for Northern Group. The last 12 months have seen the company buy the DKNY building at 76 King Street, 19 Spring Gardens Sir William Siemens House on Princess Parkway.
Northern Group chief operating officer Paul Dobbs said: “Northern Group is pleased to announce the successful acquisition of Wienerberger House, marking further, significant growth for our business as we branch into Stockport and Cheshire.
“This prime location has exceptional connectivity and boasts a strategic position in Greater Manchester. We are lucky to inherit a great tenant in Wienerberger and look forward to continuing with business as usual at this new location.”
Sixteen advised Custodian on the Wienerberger House deal. JLMcr advised Northern Group.
