Capital & Centric has bought a collection of mill buildings on the edge of the proposed HS2 hub at Piccadilly Station in Manchester.
The 200,000 sq ft portfolio of buildings was bought from a private landowner in an off-market deal.
Located in Fair Street, Chapeltown Street, Congou Street and Baird Street, the buildings are partially occupied by businesses including artists’ studios and clothing manufacturers. Large sections of the mills are also vacant and falling into disrepair.
The largest building is the Grade II listed Crusader Works, constructed around 1830 by Joseph Chessborough Dyer, co-founder of the Manchester Guardian newspaper and Bank of Manchester.
Manchester council’s masterplan for the area shows offices, flats, hotels and shops surrounding the existing mills.
Adam Higgins of Capital & Centric said: “We like reusing and repurposing buildings, and opportunities like this don’t come around often. We only had four weeks to buy the building. We don’t have any bank debt, which gives us the ability to move quickly, and we’ve got a great team that have been able to achieve that timescale.”
Both parties represented themselves.
