Posted 17 February, 2017 OBI NEWS
OBI Property represented Bilsdale Properties, the manager of the Walker Family Trust, on the sale of 80 Mosley Street, Manchester. An institutional investor has purchased the building for £12.1 million representing an investment yield of 5.05%.
80 Mosley Street is a 31,890 sq ft Grade A building and has been owned by Bilsdale since 2004. Tenants include creative agency 90 Degrees, Taylors Solicitors, asset managers Close Brothers and coffee shop Neros.
Andrew Cowell, 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 clients exit. We look forward to remaining involved with the new owners.
“80 Mosley Street overlooks the newly transformed St Peter’s Square and its sale confirms investor demand for this new prime office location following Deka’s purchase of One St Peter’s Square and Deutsche Bank’s acquisition of 2 St Peter’s Square.”
The purchaser was represented by Chris Freer-Smith Ltd, London. London based Fletcher King were joint agents with OBI.