115 Princess street & 65 Whitworth street, Manchester

We tracked this late Victorian former warehouse - which was fully let as bank and offices to Royal bank of Scotland - for over 12 months, through administration and then a subsequent ownership as part of a large investment portfolio.

We eventually established contact with the asset manager acting for an off-shore SPV who had ultimately acquired the building, and we successfully agreed terms for our client to purchase the building in an exclusive off-market transaction.

After completing initial development and investment analysis for your client and their funder, we concluded the transaction. Post-completion, Casabel have continued to provide asset management services for the Landlord, liaising with the tenant and working to gain vacant possession of the upper floors and managing the rent review of the ground floor lease.

Landlord: Beech Holdings

Tenant: Royal Bank of Scotland

Size: 9,480 sq ft

Value: £1.3m

Services: Acquisition, Asset Management, Development Consultancy