Cheshire-based developer Satis Group has bought a vacant nine-storey office building in Manchester’s business and financial core and plans a full-scale remodelling to bring it back into use.
Satis has bought the 30,000 sq ft Barnett House on Fountain Street from Canada Life Asset Management for £4.6m.
Until 2021, the 1980s-built office building was operated as serviced office space under the Regus brand by Fountain Street Manchester Centre, a subsidiary of Regus parent company IWG.
Canada Life AM bought Barnett House from Eric Wright Group in 2018 for £7.8m.
Canada Life AM head of UK property Michael White said, “The sale of Barnett House is in line with fund strategy and delivered an attractive cash return for our investors.”
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