Catella APAM has acquired Cornerblock in Manchester city centre from a fund advised by Credit Suisse Asset Management for £23.5m.
Purchased on behalf of Britannia Invest, the 60,000 sq ft building comprises six floors of office space with retail on the ground floor. It is let to eight tenants and 18,000 sq ft remains available.
Catella APAM director Chris Taylor said: “Although the occupational market has inevitably been impacted this year by Covid-19, we believe given the quality of the micro-location, the building and vibrancy of the Manchester office market, particularly in 5,000-10,000 sq ft occupiers, the property is well placed to benefit as occupiers continue their return to the office.”
Cushman & Wakefield acted on behalf of APAM; CBRE acted on behalf of Credit Suisse Asset Management.
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