Peter House, Manchester sold for £14.7m

By Bridging Loan Directory -

DTZ has sold Peter House in Manchester on behalf of Serviced Offices UK GP.

The building, which was managed by Aviva Investors, was sold to an Israeli investor for £14.7m, reflecting a yield of 7.5%.

Peter House was built in 1958 and is arranged over basement, ground and 11 upper floors. There are several retail units on the ground floor, but upper floors largely consists of serviced office space managed by Regus.

Jonathan Webb of DTZ said: “Following the restructuring of the Serviced Office UK fund in 2008, DTZ has worked closely with Aviva Investors to achieve a successful disposal of assets held within the portfolio which were operated as serviced offices.

“Following the sale of Davidson House in Reading to Schroders in August, the sale of Peter House, Manchester completes the disposals process which attracted significant interest due to the high quality CBD nature of the assets.”