Posted 1 May, 2021 OBI NEWS
OBI is delighted to have advised on the recent investment sale of Canada House.
Having advised Kinrise on their purchase for £10.5 million in 2016, the sale of Canada House to Grosvenor is testament to the success of the OBI Difference.
The OBI Difference is our collaborative approach – bringing together the skills of our OBI team to include Interior Design, Building Consultancy, and Project Management, together with Office Agency and Capital Markets, to deliver exceptional results and service for our clients. Canada House now offers the best character workspace in the city and is a highly activated building with a community of likeminded occupiers.
It has been an incredible journey for OBI, using our in-house expertise to secure Listed Building Consent and sympathetically return Canada House to its former glory; restoring the building to be one of the most iconic, multi-let office buildings in the city. OBI’s unique approach to the restoration and transformation of this Art Nouveau-style office building has truly repositioned one of Manchester’s forgotten gems.
Joe Weilding says: “The OBI Difference is our unique approach which combines all of our skillsets. Within Canada House our workplace team have designed inspiring workspace that was sympathetic to the character of the building, and our building consultants applied their expertise, rising to the challenge of restoring one of Manchester’s most important Grade II Listed Buildings. The result is inspiring, and the building is now a place for modern industry to thrive. Occupancy levels now run above 95%, whilst rents have grown from £12.00 psf in 2016 to an established rental tone in excess of £28.00 psf”.
Scott Gemmell says: “It has been a privilege to represent Kinrise on the sale of this fantastic building. The strong association between landlord and tenants has made for a very smooth transaction. Whilst this represents the end of an era with Canada House for Kinrise, we are all incredibly proud of what we have collectively accomplished. Canada House is now perfectly positioned to prosper under its next chapter of ownership with Grosvenor”.
The sale of Canada House has confirmed the power of the OBI Difference. The close collaboration of our integrated teams delivering projects from acquisition to disposal.
Canada House provides 67,000 sq ft of Grade A office accommodation with an enviable tenant line-up.
It was a pleasure to work with Will Kennon and Mike Pochin at CBRE who advised the purchaser, Grosvenor.