Pitalia and CTP poised to snap up Hilti HQ

The joint venture is under offer to buy the 2.23-acre Trafford Wharf Road plot.

CTP and Pitalia Real Estate are tipped to redevelop the site into a residential-led mixed-use scheme featuring around 500 homes.

Construction products manufacturer Hilti instructed Colliers International to sell its 31,500 sq ft headquarters last year after the firm signed to relocate to 42,000 sq ft at Bruntwood’s Circle Square on Oxford Road in Manchester. 

The acquisition of the former Hilti head office, located next to Cole Waterhouse’s recently completed No1 Old Trafford, is to be Pitalia’s second buy in as many months. 

In May, the firm bought Aeroworks, a 35,000 sq ft former aircraft factory on Adair Street in Manchester for £9.3m. 

Pitalia Real Estate is part of the wider Pitalia Group, owned by millionaire businessman Anil Pitalia. The Bolton-based group’s property arm was launched earlier this year with ex-JLL chairman Dave Lathwood installed as managing director. 

CTP is delivering the £200m Pall Mall mixed-use scheme in Liverpool with Kier Property, a project that features more than 400,000 sq ft of offices, a hotel, leisure, and retail.

All parties were contacted for comment.