11 May 2016

Rockspring acquires in Manchester

Forsters has acted on behalf of clients of Rockspring Property Investment Managers on the acquisition of a Manchester office building from clients of Aberdeen Asset Management for a purchase price of £16.050 million.

The Chancery office building is located on the corner of Spring Gardens and Chancery Lane and occupies a prominent site in Manchester's central business district. The annual rent roll is in excess of £1.011 million and current tenants include Clydesdale Bank, financial adviser Duff & Phelps and global insurance broker, Willis Group.

John Kehoe, assistant director at Rockspring, commented: “The acquisition of this value-add asset presents a fantastic opportunity to implement a series of asset management initiatives, including investment into the building’s fabric, mechanical infrastructure and an extensive refurbishment programme”.

Senior Partner, Smita Edwards, advised Rockspring, assisted by Owen Dutton.

Our Insights

"Forsters had already hugely increased in size and turnover in the last ten years, and this move has really added to that"  on the arrival of the private client team from Gowling WLG.
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