Posted 31 July, 2012 OBI NEWS
OBI Property today confirmed the sale of Regatta House, Salford Quays to Hamill Investments. OBI advised the vendor; GGM Properties on the sale to Hamill who will convert the 14,200 sq ft building into 35 serviced office suites.
The move comes just weeks after Regus pulled out of a serviced office centre at nearby Exchange Quay.
It is understood that Hamill has purchased the building from GGM Properties for around £2m.
Peter Smith of GGM Properties commented: “We are delighted to have agreed a deal that works for both parties on Regatta and we continue to focus our intensions on finding suitable opportunities to expand our existing city centre portfolio”.
Hamill will undertake a three-month refurbishment of the building, which is to be renamed “HQ – Hamill at the Quays”. The programme will see the transformation of the 14,220 sq ft scheme into serviced office suites ranging from 107- 538 sq ft. For an all-inclusive monthly payment, tenants will benefit from the use of a central reception facility, on-site parking, meeting and catering facilities.
Chris Neill, managing director at Hamill, said: “The scheme’s waterside location and its close proximity to MediaCityUK, its transport links and future potential were the main factors that made this such an attractive investment opportunity. When complete, the scheme will represent a gross development value of approximately £7m.
“At Hamill, our overarching objective is to support vibrant and innovative businesses by creating a hub at HQ”.
OBI Property and Canning O’Neill acted as joint letting agents on behalf of GGM Properties.