LJ Partnership has bought 1 Central Street in Manchester, its fifth building in the city’s Albert Square, for £7m.
The property investor and multi-family office has unveiled plans to refurbish the offices to create 100,000 sq ft of collaborative workspace across its five buildings in the square, investing a total of £28m.
The Albert Estate is being developed with the advice of Lord Wei of Shoreditch, an expert in technology, connected cities and social reform and a non-executive director of the Manchester-China forum.
The estate will also include a range of shops and restaurants, including the recently opened Bourbon & Black specialist bourbon whiskey bar and kitchen.
The refurbished office space is due to open next summer.
Sam Lawson Johnston, director of real estate at LJ Partnership, said: “This draws on our experience of creating other real estate projects in London such as Maker Wharf and the Refinery.
“The Albert Estate project in Manchester further exemplifies that approach, giving historic buildings a new lease of life and Manchester businesses an inspiring home.”
LJ Partnership was advised by OBI Property and law firm Charles Russell Speechlys.
