Agha Group has acquired the freehold interest in Cobac House at 14-16 Charlotte Street, Manchester, in a multi-million pound deal.
The investment opportunity was marketed for sale by Commercial Properties for £3,250,000.
The 15,692 sq ft Grade II listed former warehouse, which is located on the edge of Manchester’s Chinatown and Piccadilly fringe, is fully let, with the majority of the building occupied by Bridge Insurance Brokers. The lower ground floor is occupied by Little Yang Sing restaurant.
Muhammad Abdullah, from Agha Group, said: “We are pleased to welcome Bridge Insurance/Gallaghers and Little Yang Sing into our portfolio. Cobac House is an exceptionally attractive building. We recognised the potential of this core asset and moved quickly to secure the transaction.”
Dominic Evans, investment partner at Fisher German, which acted for Agha Group on the deal, added: “We are delighted to again support Agha Group with the identification and addition of a core asset to their existing portfolio. The attractive income/tenant profile, with well positioned floor plates to capture future market demand from SME occupiers and underlying rental growth potential made this an appealing proposition.”
The vendor’s legal representative was Bexley Beumont and the purchaser was represented by Savage Silk.
