Lloyds Banking Group has appointed Jones Lang LaSalle as LPA receiver to manage the 9 Portland Street office building in Manchester.
Locally-based MCR Property Group bought the 58,000 sq ft Grade II-listed building from the Greater Manchester Passenger Transport Executive in 2006 for £5m. The GMPTE, which had occupied the building, relocated to The Carlyle Group’s Piccadilly Place scheme in 2008.
MCR relaunched the building in 2009 following a revamp of aspects of the property, and secured lettings to Volker Rail for 2,700 sq ft and Merlin Professional Claims for 9,000 sq ft, although the majority of the building remained vacant.
A spokesperson for JLL said: “Jones Lang LaSalle has been appointed as Joint Law of Property Act Receivers over 9 Portland Street in Manchester. There is no effect to the tenancies in the building. The LPA receivers are currently reviewing their strategy for the property.”
daniel.cunningham@estatesgazette.com
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