1. OBI win at Property Awards

    Congratulations to our client OBI Property who this week were named as Niche Agency Team at the Property Week Awards.  “The Judges praised OBI Property’s innovative approach to business and its ability to deliver the right solutions to the right clients. The Manchester office specialist has become dominant in the city since its establishment in 2010, securing 35% of all transactions over the last three years. It advised on the city centre’s largest transaction in 2014, Australian law firm Slater & Gordon’s 106,000 sq ft letting at 58 Moseley Street, and is now advising Allied London on a 400,000 sq ft development at Spinningfields and on the 13-acre former Granada Studios site.”

    You can read more about the Awards here.  Ashurst Communications helped OBI Property complete the entry for the national award and it’s a key part of the service we offer all our clients. Read more about awards here.


  2. The Hive sold for £17 million

    This week Argent announced their award winning building The Hive, Lever Street, Northern Quarter, Manchester has been sold to Edinburgh and London based investment firm Kames Capital for circa £17 million.

    David Partridge, managing partner, Argent said:  “The sale of The Hive to Kames Capital shows the strength and quality of the building we developed in partnership with Manchester City Council.  There is a very exciting mix of tenants in the building, whose enthusiasm and commitment to the space has no doubt helped attract the buyers.”

    Gary Scorah, Commercial Properties Limited acted on behalf of Argent while JLL acted on behalf of Kames Capital.

    Gary said:  “Kames Capital sees the strength of the wider offer of Manchester’s Northern Quarter, having purchased the Smithfield Buildings last year, it is clear they see the area as one of great potential.  Kames views the Hive for what it is, the best quality office building of its kind in the area.”

    James Porteous, director, JLL said “This is a fantastic building with excellent sustainability credentials.  We are delighted to have acquired this property for our client, Kames in what is fast becoming a very sought after location.”

    Kames Capital is a specialist investment management business, which manages £55 billion on behalf of UK and international clients – including wealth managers, financial advisers, family offices, pension funds, financial institutions, government agencies and individuals.

    The Hive on Lever Street is the only Grade A office building in Manchester’s Northern Quarter.  Tenants include: the Arts Council England, 5plus architects, Gooey Creative, Join the Dots, Online Ventures Group, Fatsoma, Spacemen Creative, Bakerie Wine Store, Pie & Ale and the Studio – versatile spaces for meetings, launches events, conferences, training days and parties.

    The office space at The Hive is flexible to meet all requirements and is available in suites of 2,500 sq ft +.  The 80,000 sq ft building also benefits from a natural ventilation system which ensures it is one of the greenest and most cost effective buildings in Manchester.

    The news of the building sale has featured in Manchester Evening News, Place North West, Insider, and Estates Gazette.

  3. BBRE buys St James Court, Manchester

    Boultbee Brooks Real Estate (BBRE), the UK-based real estate investor and developer, has purchased St James’s Court, 24-30 Brown Street, Manchester, M2 1DH from the HIMOR Group for £6.5 million.  Our client OBI Property acted on behalf of HIMOR Group with CBRE.

    St James’s Court is a 38,000 sq ft office building arranged over five floors providing typical floor plates of 8,000 sq ft and a car parking ratio of 1:1,570 sq ft.  There is significant opportunity to undertake a comprehensive refurbishment of the property to create high quality office space and to utilise various terraced atrium areas to provide an attractive roof top garden.

    The 38,000 sq ft five floor office building provides typical floor plates of 8,000 sq ft. The new owners plan to undertake a comprehensive refurbishment of the property to create high quality office space and a new roof top garden.

    The acquisition of St James’s Court follows the purchase of Croxley House, announced last week, and is further evidence of BBRE’s strategy to invest in high-quality, sought-after properties in the UK’s leading cities such as Manchester.

    Boultbee Brooks Development Director, Roger James said:  “Boultbee Brooks have continued their expansion into strong regional markets with the acquisition of St James’s Court, Manchester for £6.5 million.  The 38,000 sq ft proposed office redevelopment is perfectly positioned to take advantage of the strong occupational demand we continue to see in Manchester”.

    Will Ainscough of the HIMOR Group added:  “We wish Boultbee Brooks all the best in delivering this exciting opportunity.  They performed professionally and efficiently during the transaction and the deal went through seamlessly.  We will now look to reinvest the money into brownfield strategic planning opportunities throughout the UK.”

    Aurum Real Estate acted on behalf of Boultbee Brooks Real Estate.

    The news of the building sale was featured in Manchester Evening News, Place North West, Insider and Property Week and Estates Gazette.

  4. urbanbubble releases survey results

    Manchester based award winning residential property management company urbanbubble has released the findings of its survey of Manchester and Salford residents.  Over 350 people completed the survey which asked them about how they choose their homes, what is important to them in terms of the design of their apartments and what more they would like to see.

    The results of the survey are being shared with businesses in Manchester and Salford who are looking at developing PRS (Private Rented Sector) schemes, so they can better understand what city centre residents want from their homes.

    You can view the survey results here

  5. BBRE acquires Croxley House, Manchester

    Boultbee Brooks Real Estate (BBRE), the UK-based property investor and developer, today announced the acquisition of Croxley House, a period property in the heart of Manchester city centre, for £5.5 million.

    Croxley House, Lloyd Street, Manchester, M2 5ND provides office accommodation arranged over basement to fifth floor, offering a total 27,400 sq ft of office space.

    The building is situated just off Albert Square, close to Deansgate and Spinningfields.  It is well served by the city’s transport links, being a short walk away from both Manchester Piccadilly and Manchester Victoria, and is in close proximity to some of Manchester’s best amenities.  Croxley House is fully let to Media Force, Arcon Housing, Hidden Creative and PRP Architects.

    The acquisition of Croxley House is further evidence of BBRE’s strategy to invest in high-quality properties in sought-after, high-growth locations which offer attractive financial returns.  In 2014 the North West commercial property market saw a return to rental growth and an increase in development activity. Manchester is leading the recovery in the UK’s regional markets and Croxley House is located within an area earmarked for new speculative development.

    Clive Boultbee-Brooks, managing director, BBRE said: “Croxley House is situated in a fantastic location, underpinned by the planned mixed use development at the rear of the property which will comprise of hotel, leisure, residential and office accommodation. We are excited by the strong demand and rental growth we are seeing in the area.”

    Will Lewis, OBI Property and Aurum Real Estate acted on behalf of Boultbee Brooks Real Estate.

    The news was featured in Place North West, Manchester Evening News, Insider and theBusinessdesk.