The Hive sold for £17 million

Photo: 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.