Acting for landlord Bluefig Investments, Edwards & Co has agreed a five-year lease with software developer Human on 3,527 sq ft in the grade two-listed 56 Princess Street in Manchester. The agent has also completed a series of disposals in St John Street.
The Princess Street building was bought by Bluefig in 2016 and given a refurbishment designed by Sheila Bird Group. The reception has been remodelled and a bike store with showers added. Faris Mousa, owner of Bluefig, said: “Human are exactly the type of occupier we had in mind throughout the design process. This is fast becoming one of the most sought-after office buildings in this area and we hope to attract more exciting tenants to the building in the very new future.” There are two floors remaining in the building from 2,022 sq ft to 3,579 sq ft at a quoting rent of £17.50/sq ft. Edwards & Co has also disposed of three listed former Georgian townhouses on St John Street on behalf of separate private vendors. All three commanded a full price, with one achieving a capital value in excess of £300/sq ft. Number 10 was bought by Andrew Geddes, sustainable energy company SAV Systems has acquired and is occupying number 11, while number 19 was sold off-market to a private individual. Richard Dinsdale, associate director of Edwards & Co, said: “Opportunities to acquire properties with a St John Street address are always scarce. The street, which over the years has become synonymous with barristers and medical professionals, has recently showed signs of diversification.”
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Acting on behalf of Bluefig Investments, Goodall Investments has completed the off-market acquisition of Europa House, at 55 Mosley Street in central Manchester, for £1.95m.
The whole of the 9.194 sq ft building has been let on a short-term leaseback to language school Berlitz Manchester. Rob Goodall, director of Goodall Investments, said: “My client has been looking for opportunities to acquire buildings in the city where he feels he can add value by undertaking a quality refurbishment, something we have done most recently at 56 Princess Street, which we sold earlier this year.” Bluefig, again represented by Goodall, bought that building for £2.7m in September 2015, subsequently undertaking a full asset management programme, refurbishing common areas and three floors and re-gearing several leases. The 18,789 sq ft building was sold off-market in March for £5.2m, at which point it was producing £208,000 a year in rental income with two floors vacant. Goodall concluded: “With the recent 30,000 sq ft letting to the Parliamentary Ombudsman at Citygate next door, and the sale of One New York Street, we see Mosley Street as being an improving location.” Daniel Harris & Co acted for the vendor. Source: https://www.placenorthwest.co.uk/news/bluefig-picks-mosley-street-for-latest-office-buy/ |
AuthorFaris Mousa is an entrepreneur based in Manchester who has worked on many residential and commercial projects. Faris Mousa is Director of Bluefig Investments (UK) Limited. It is a property investment and urban regeneration company. The company was incorporated on 2nd December 2014 and has registered offices located at 260 – 268 Chapel Street, Salford, Manchester, M3 5JZ Archives
July 2023
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