Posted by Zoe Boddy-McEwen

Posted 22 June, 2011 OBI NEWS

OBI Property have acquired Spring House on Fountain Street in Manchester City Centre on behalf of Wilton Developments.

The 25,000 sq ft building is let to AXA Insurance, and the property was acquired for a figure in excess of £5M.

OBI Property Investment Partner, Gary Scorah, said “The building’s location, size and commanding position in an area which has attracted more than its fair share of lettings activity in recent years provides a far-sighted and experienced landlord such as Wilton, with many opportunities for its future enhancement in the shorter or longer term”.

James Scott Development Director of Wilton Developments said: “We have been waiting for the right investment property to come to the market in Manchester city centre to complement our existing portfolio in the North West. We believe we can bring our experience and knowledge of similar properties to enhance the attraction for tenants while considering our future options for this high-quality product”.