Credit Suisse has bought Overseas House, a 61,412 sq ft office building on the corner of Deansgate and Quay Street, near Spinningfields in Manchester for £12.25m.
The building comprises 52,175 sq ft of vacant office space over six upper floors and three ground level retail units totalling 9,237 sq ft, which are let to Tesco, Sainsburys and Starbucks.
Bruntwood is to undertake a comprehensive internal and external redevelopment of the building for Credit Suisse and it is intended that the building will be rebranded “Cornerblock”.
Cushman & Wakefield acted for Credit Suisse.
C&W partner Matt Stretton said: “Investor interest in Manchester remains strong and Credit Suisse recognised the potential that Overseas House offered with the opportunity to increase the long-term value of the building. The proposed scheme will appeal to a wide range of occupiers from technology, design and marketing to the more traditional office occupiers who are looking for a contemporary workplace.”
