Off-market deal on Mosley Street
Bilsdale Properties, manager of the Walker Family Trust, has sold 80 Mosley Street in Manchester for £12.1m, an investment yield of 5.05%.
The purchaser is an unnamed institutional investor.
80 Mosley Street is a 31,890 sq ft building and has been owned by Bilsdale since 2004.
Tenants include creative agency 90 Degrees, Taylors Solicitors, asset manager Close Brothers and coffee shop Neros.
OBI Property represented Bilsdale Properties on a joint agency basis with London-based Fletcher King.
Andrew Cowell, transactions and asset management at OBI Property, said: “We sold 80 Mosley Street in an off-market transaction and the price shows how strong Manchester is as an investment proposition. Since we started OBI, we have been involved in leasing the whole building and with the on-going asset management, we are delighted to have seen this all the way through, and maximise value on our client’s exit. We look forward to remaining involved with the new owners.”
The purchaser was represented by Chris Freer-Smith in London.