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.