A business park by Manchester Airport that’s home to household name brands and was on the market for £19.5m has been sold.
Manchester Holdings Limited, owned by Tom, Richard, and William Hill, has acquired Manchester Business Park.
The park has 195,000 sq ft of space across four buildings. Occupiers include PZ Cussons, whose global head office is at the park, as well as Emirates, Costain, and Regus.
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The development next to the £1bn MIX Manchester development zone is 94% let, with just 11,675 sq ft of space available in Building 1000.
The park was marketed by Savills on behalf of Ben Moon of BNP Paribas Real Estate, which was acting as Joint Fixed Charge Receiver. Savills was asking for offers in excess of £19.5m.
Manchester Holdings was advised on the acquisition by Colliers’ National Offices team. JMW Solicitors also advised Manchester Holdings, while DLA Piper 海角视频 acted on behalf of the Joint Fixed Charge Receivers.
Tom Hill, of new owner Manchester Holdings, said: “Manchester Business Park is a strategic investment opportunity for us. Thanks to its high calibre of occupiers, the incredible location, and high specification office buildings, the space has great potential, and we’re looking forward to working with the tenants to maximise this.”
Dominic Pozzoni, Colliers’ head of National Offices, said: “Manchester Business Park is a well-established and highly sought-after office location, offering modern workspace and excellent parking provision. Its strong transport links and proximity to Manchester Airport make it a prime choice for occupiers and investors.
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“Manchester remains one of the 海角视频’s most dynamic office markets, attracting global businesses and significant investment thanks to its talent pool, infrastructure, and growth potential. We’re proud to have supported this strategic acquisition and continue to help clients capitalise on opportunities in this thriving city.”
Thomas Pearson, head of commercial real estate at JMW, said: “We are delighted to have advised on this significant acquisition, which reflects the continued strength of the investment market in Manchester. Transactions of this scale require a proactive and collaborative approach, and it was a pleasure working on this successful project.”
Oliver Foster, director and head of northern investment at Savills, said: “We are pleased to have completed on the sale of this well-established office estate, immediately adjacent to Manchester Airport. The property attracted significant interest and was sold following a competitive bidding process which demonstrated the depth of investor demand for value add opportunities.”
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