23 November 2015, London: Aprirose, the real estate investment company, has today announced the purchase of 76 King Street in Manchester for £16 million from Aspen Assets Limited.
76 King Street is a 42,663 sq ft Grade II listed property, in a prime commercial location within the city. Set in the middle of Manchester’s comprehensive transport network and strong retail and leisure offering, 76 King Street provides Grade A office accommodation.
The recently refurbished building consists of four floors with the third and fourth floors occupied by Orega, a serviced office provider, whose facilities are used by all occupants of the building. The building sits directly next to two retail units occupied by Belstaff and DKNY, and has private secure parking.
Aprirose has also agreed the sale of Etrop Court in Wythenshawe, Greater Manchester, for c. £14.5 million. The 48,212 sq ft office building, which includes retail space and car parking facilities, was acquired by Naissance Capital Real Estate. The office space is currently occupied by Manchester City Council.
Gary Jones, Chief Operating Officer at Aprirose, said: “Our portfolio includes an array of assets in Manchester giving us an in depth knowledge and extensive experience of the market. We are pleased to have made another strategic acquisition in the city, in such a prime location, with good tenants, to add to our growing portfolio.
“There is high demand for office space in Manchester, and 76 King Street is a newly refurbished asset surrounded by high calibre financial institutions and professional occupiers, so we are confident that it will quickly attract new tenants.”
CBRE acted for Aprirose on 76 King Street and WHR Property Consultants acted for Aspen.