Friends Ivory Sime has sold its interests in the office buildings at 7-11 St James Square, Manchester, in a deal valued at more than £5m.
In a complex off-market deal, stockbroker WH Ireland, which occupies the 25,000 sq ft (2,320 sq m) 11 St James Square, has acquired the entire site. The offices at nos. 7-11, which total 12,000 sq ft (1,150 sq m), have been sold on to Cheshire developer G&J Seddon, which plans a refurbishment.
Peter Skelton, director at Lambert Smith Hampton, which advised WH Ireland, said: “This deal is a testament to both the strength of Manchester’s owner-occupier market, and to the number of developers wanting to become involved in upgrading office space.”
EGi News 12/12/01
