Peter House on the block for £28m+
Offers are invited by BP Pension Fund for the central Manchester asset, where the office space is fully let to flex operator Spaces.
Colliers and niche investment agency MWM are instructed by the owner to find a buyer for the building, which it acquired from Patrizia Immobilien for £45.1m in 2019.
Peter House weighs in at 94,564 sq ft and has long housed serviced offices throughout its upper floors, first under the Regus brand, then being rebadged under the Spaces name following the acquisition of that brand by parent group International Workplace Group.
Spaces is committed to the building until 2036.
Along with the office floors, Peter House offers restaurants and retail units at ground floor level, with a tenant roster including local staple Giovanni’s and national bakery chain Greggs.
Dominic Pozzoni, head of national offices at Colliers, told Place North West: “It’s a great building in a great location, with St Peter’s Square being one of the gems of Manchester. Peter House is a brilliant asset, offering benefits in the short, medium and long term.”
This building is tired and in desperate need of a face lift.
By mcleod
It’s not fully let when its occupants are a rent-a-desk company.
By Anonymous
I agree Peter House could do with an external clean but it’s a fine piece of modernist architecture.
By Anonymous
That’s about 40% drop in value with a long term tenant? What am I missing.
By Anonymous