No.1 Lakeside sold for £6 million

Photo: No.1 Lakeside sold for £6 million

OBI Property  has completed the investment sale of the 33,000 sq ft No 1 Lakeside, Cheadle Royal Business Park in an off-market deal for £6 million.

OBI Property negotiated the sale on behalf of the building owner, Ian Pollitt, Cramer Properties – who OBI has represented for the past seven years – to a director of financial services group Together, in order to facilitate the future expansion and growth plans of the business.

No 1 Lakeside is fully let and tenants include MSL Legal Expenses and high end travel business Kuoni.

Ian Pollitt said: “I bought No 1 Lakeside as a vacant building around 10 years ago.  I invested in the building and have enjoyed it being fully let for quite some time.  I completed the improvements I intended to do when I acquired the building, and it was the right time to sell.  I am already looking at a number of other investments to provide new value added opportunities.”

Will Lewis, transaction and asset management team, OBI Property said: “We have worked with Ian since he acquired the building and we are delighted with the end result.  OBI designed, project managed and leased the space in No 1 Lakeside and it’s great to finish off the job for a client who has shown faith in OBI since we started out.”

The news was covered in the Manchester Evening News , Place North West and Property Week.