July 13, 2011
The Deva Centre, an urban business village on the edge of Manchester’s Central Business District, has been acquired by property fund manager, Highcross, in a £10.4 million deal.
The property, which includes 83,500 sq ft of business space, is in a prominent location off Trinity Way (A6042) and just five-minutes walk from Manchester city centre.
The Deva Centre provides a wide range of highly individual, flexible office space, including refurbished Grade II listed brewery buildings and a modern development of seventeen self-contained office units. Current occupiers include Handelsbanken, WRG Creative Communication, Late Rooms, QBE and Royce Peeling Green Accountants.
The three former brewery buildings: The Tower, The Copper Room and The Malt House, have been completely refurbished to provide mainly open-plan office accommodation, ranging from 1,500 sq ft – 3,250 sq ft. The scheme also includes the Brewery Yard development of two-storey office units, arranged within seven blocks ranging from 1,450 sq ft – 3,500 sq ft and totalling 40,000 sq ft.
The scheme’s success reflects its convenient location, close to Manchester city centre, Salford and Victoria train stations, and just off the inner city relief road, providing easy access to the M602/M60. The Deva Centre also has a 24-hour manned security lodge, barrier entry system and more than 230 car parking spaces.
Richard Pellatt, Director of Highcross’ Northern office comments: “The Deva Centre is an attractive, flexible business village in a great location close to Manchester city centre. The scheme offers strong potential for us to add value via our intensive approach to asset management and we also plan to raise its profile and enhance pedestrian links to the CBD.”
The deal is the latest in a series of significant office purchases by Highcross’ Northern regional team in recent months, including a £9m portfolio of office buildings in Preston, Leeds, Sheffield and Hull and the acquisition of a Teesside business park in a £10 million deal.
Highcross was advised by JLL and WHR Property acted for the vendor.