Eddisons Sells Major Commercial Investment
The Manchester office of Chartered Surveyors Eddisons, has sold a major commercial property investment in Greater Manchester.
1 Henry Square in Ashton-under-Lyne which had an asking price of £6,350,000 has been acquired by an undisclosed party. Eddisons and the joint agent acted on behalf of Administrators Moorfields Corporate Recovery and completed the disposal within six months of instruction.
The property extends to approximately 49,000 sq ft. of which the anchor tenant, Pennine Care NHS Foundation Trust, occupies over 36,000 sq ft. In total 93% of space is currently let to three tenants. Gross annual income at the time of completion equated to £573,072.
The high specification three storey building was constructed in 2006 and formed part of the first phase of the St Petersfield regeneration scheme in Ashton town centre. The wider development will ultimately consist of 400,000 sq ft. of offices, shops restaurants and apartments.
James Cole of Eddisons said: ‘We are delighted to have concluded this deal and achieved close to the asking price on behalf of our client.
‘There was plenty of interest from a range of potential buyers which reflects the demand for good quality commercial investment stock in the North West.’
Written by: Richard Roe on Monday 08/12/2014