Soller Group debut in Manchester

Acting on behalf of Custodian Capital and BH Manchester Ltd, Casabel have sold a prominent former bank in the heart of Manchester’s Knowledge Corridor. 

The deal is the first in a series of acquisitions in Manchester for London based developer Soller Group, who were represented by Pure Real Estate Solutions.

Soller Group propose to develop the building to provide retail on the ground floor of the building, where there is an operator/tenant in place, while the upper floors will be developed into high quality residential studio apartments.

Justin Rouse of Casabel commented; “this building is situated in a prominent location in the heart of the university district opposite All Saints Park, with The University of Manchester’s new £300m Engineering Campus and the striking new School of Music all within 150m. Along with the numerous amenities, the proximity of the building to the city centre will make this accommodation amongst the most exclusive and sought after in the city.

The property is only 500m from Oxford Road Railway Station with a direct link to Manchester Airport, and one of Europe’s busiest bus routes on your doorstep, so connectivity for this location is unparalleled.

137 Oxford Road

YPP acquires prominent city centre asset

11 Saint James’s Square, Manchester

Acting jointly with Avison Young on behalf of Rowan Investments and Beech Holdings, Casabel Property Consultants have sold 11 Saint James’s Square in Manchester City Centre for a price of £8,000,000, to Leeds based developer YPP.

The property is situated in the city’s prime core overlooking Albert Square and Manchester’s historic Town Hall. The building was acquired by Beech in February 2017 for £5.25m and has since undergone a programme of refurbishment and asset management by Rowan Investments on the lower floors, while the upper floors have been earmarked for conversation to residential apartments.

Cushman & Wakefield represented YPP, while Avison Young and Casabel jointly represented the vendors.

Crowdfunded Developer snaps up MANCHESTER trio of buildings

Tudor House, Chapel Walks

Manchester crowdfunding platform The House Crowd Group has acquired the historic 5-17 Chapel Walks buildings.

Casabel Property Consultants acted on behalf of Housecrowd to acquire the buildings from a fund managed by nationwide industrial developer and asset manager Chancerygate.

As part of the deal, 16 apartments will be built at the site in a stunning scheme designed by Calderpeel Architects.

Funds totalling about £2.5m for the purchase and initial development were raised by The House Crowd Group through its innovative property crowdfunding platform. Work is expected to start onsite in the spring of 2019.

Chancerygate asset manager Simon Barrs said: "We are very pleased to secure the sale of a long leasehold interest of these three properties.

"We look forward to working with The House Crowd Group team as they bring this exciting development project to fruition.

Principal at Casabel, Justin Rouse added: "The development of 5-17 Chapel Walks will bring much needed new apartments to a highly desirable location in central Manchester, close to both the transport centres of Victoria and Piccadilly Stations and the retail heart of the city.

"The scheme will be a key driver in the future regeneration of this part of the city, which is becoming one of the most desirable residential locations in central Manchester."

The House Crowd Group was advised on the acquisition by Casabel Property Consultants and Chancerygate were represented by the Manchester office of Savills.

Old Half Moon Chambers, Chapel Walks  

Casabel to sell Oxford Road development opportunity

CGI of proposed scheme

Casabel Property Consultants have been appointed to sell a derelict former bank, prominently situated in the heart of The Knowledge Corridor close to the city centre and The University of Manchester and Manchester Metropolitan University.

Prime location in heart of The Knowledge Corridor, central Manchester. 

137 Oxford Road was acquired by Casabel on behalf of clients in 2017 in an off market transaction after being vacated by Barclays Bank several years ago. Since then the owner has advanced plans and obtained planning permission to convert the building into 10no. residential studios on the upper floors. There is also ground floor commercial premises with a prime corner position and car parking, which would be suitable for a number of uses (subject to planning), including coffee shop/cafe.

The freehold building is offered with full vacant possession including the benefit of all plans and reports being assigned to the successful purchaser upon completion.

Justin Rouse of Casabel commented, “We are delighted to be instructed to sell this building and are confident this great opportunity will attract interest from developers and investors. We already have several off market enquiries from potential buyers and also from strong commercial operators for the ground floor.”

The property is available immediately and is being offered for sale by private treaty. Interested buyers should contact the sole agent, Casabel Property Consultants on 0161 241 1444.

Practical completion for Salisbury House

Beech Construction have reached practical completion on Salisbury House, just 12 months after sister company Beech Holdings acquired the building in an off-market transaction.

Beech Holdings completed the purchase in just 14 days from start to finish, and moved swiftly following completion of the purchase to secure planning approval for 98 residential units, and a new facade. All 98 units were pre-let by in-house letting agents Manchester Apartments, prior to completion of the development, with tenants being moved in less than 24 hours from handover of the keys from the contractors.

Owner Stephen Beech says, "From start to finish this has been a fabulous achievement by our entire team. We have to thank Casabel for sourcing and then delivering yet another great opportunity, and all of our in house design and construction departments for once again demonstrating what an efficient and high quality team they are"

Casabel complete another city centre letting

Acting jointly with LSH on behalf of Beech Holdings, Casabel Property Consultants have leased a landmark retail building to Patagonia for their new flagship retail store - the first for the global clothing brand in the UK.

Patagonia have taken a long term lease and are presently fitting out the space ready for a grand opening prior to Christmas.

Justin Rouse commented, "Both Beech and Patagonia acted extremely quickly to agree and then conclude this transaction in order that the tenant could be operational before the seasonal trading period. There were a number of other leading high street brands who made offers to lease the space, but from the moment Beech first met the guys from Patagonia, they knew instantly they were a great fit for the building, and for Beech's own business ethos.

"We now look forward to the grand opening in a few weeks time and working together to make the store a roaring success"

51 King Street

Example Patagonia Fit Out

Deansgate site awarded planning

Beech Holdings have secured a new planning consent to develop 53 luxury residential units, on this site which was acquired for them by Casabel in 2016. 

New Instruction for Casabel on Hewitt Street

14-32 Hewitt Street, Castlefield

The quoting rent for the building is extremely competitive at just £12.50 per sq ft, with reasonable service charge and rateable value too, so occupational costs are overall extremely low.

Casabel Property Consultants have been appointed as sole agents to let the remaining vacant suite at this quirky and characterful building in the vibrant Castlefield district of Manchester City Centre, which is popular amongst creative, media and tech companies looking for cost effective space and excellent transport links to MediaCity:UK.

Speaking on the appointment, Casabel Director Justin Rouse said, "We are particularly proud that Towbuckle have chosen to renew our appointment to let this space after we previously let the building for them during the recession. Indeed, this was our first instruction for this client nearly 10 years ago and with countless deals now behind us on numerous buildings, I still remember taking the call awarding us with the instruction after a hard-fought pitch. 

"This small suite of 1,948 sq ft is the last remaining space in the building, and in fact, within the client's quite substantial portfolio, so we are eager to get a deal done and quickly bring the client back up to 100% occupancy!"

Spareroom comes to Northern Quarter

SpareRoom, the popular flatshare website, is set to open its first office in Manchester, in Helical’s Dale House.

The firm has agreed a five-year lease for the 7,700 sq ft fifth floor at a rent of £18/sq ft. SpareRoom currently has an office in Macclesfield, and has been occupying temporary space in the city as it awaits the move to Dale House.

Helical acquired Dale House in December 2015 and is currently refurbishing the top three storeys to provide creative office space. This aims to retain the character of the building and feature exposed brick, while giving raised floors, exposed services and a lounge-style reception.

Gemma Allen-Munce, SpareRoom director, says: “We’re thrilled to be moving to such a vibrant, creative city. Manchester’s thriving tech scene is a great environment for a company like SpareRoom and we’re looking forward to tapping into the huge pool of talent in the city.”

Avid and Casabel advised Spareroom. Justin Rouse, Director of Casabel, said: “Dale House combines high quality office space with the character and quirky features favoured by many types of modern occupier. We are pleased to have secured this transaction for SpareRoom on such great terms and wish Gemma and her team the very best for life in their new home!”

51 King Street reaches practical completion

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Key client Beech Holdings have recently completed their residential redevelopment of 10 luxury apartments at 51 King Street. We are delighted to hear that nearly all of the apartments were pre-let during development, and look forward to announcing a new letting of the ground floor retail space in the building, which Casabel have handled on behalf of Beech.