Grosvenor has added Canada House in the centre of Manchester to its growing regional portfolio.
The 67,809 sq ft, Grade II-listed office building on Chepstow Street is multi-let to occupiers including Puma, TBWA Worldwide and Historic England. The eight-storey building was built in 1909 as a textile packing warehouse, and was comprehensively refurbished by Kinrise in 2017.
The deal brings Grosvenor’s regional office portfolio investments in last six months to £120m.
Canada House is set up to run with a minimal environmental impact. Fit-outs have been completed to a gold SKA rating. Rainwater is harvested for use in the building with landlord areas already powered by green energy and all landlord controlled waste diverted from landfill.
Grosvenor said it will work to further improve the amenity offer and operational environmental performance of entire asset, partly by introducing green leases.
Grosvenor’s investment director, Keith Bailey, said: “Manchester is one of the UK’s strongest regional office markets. As a recently refurbished sustainable office building with character, Canada House complements our growing portfolio across the regions.”
Canada House is Grosvenor’s fourth regional office investment in six months, having also acquired Toronto Square in Leeds, The Hive in Manchester and 134 Edmund Street in Birmingham.
CBRE acted for Grosvenor. OBI and Carrick Real Estate acted for Kinrise. The terms of the transaction were not disclosed.
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