CBRE appointed at landmark Manchester office scheme

Ship Canal House to be jointly managed by WHR and CB Richard Ellis

Article posted: 08 Jun 2011

HIMOR Group has appointed CB Richard Ellis as joint managing agent on the landmark Manchester office property it purchased in January this year. The Grade II-listed Ship Canal House was acquired by HIMOR from Catalyst Capital LLP, for £22.88m representing a net yield of 6.7%.

Located on King Street, Ship Canal House comprises 71,527 sq ft of office space in Manchester city centre, and is multi-let to eight high profile organisations such as Fortis Bank, Fidelity International and Liverpool Victoria.

Commenting on the appointment, Peter Williams, associate director of property & asset management at CBRE, told TheBusinessDesk.com: “After a rigorous pitch we are delighted to be appointed as managing agent of Ship Canal House. King Street has a long-standing reputation as one of the city’s primary business locations.”

Himor Group has £78m of assets currently under management and is seeking to double this over the next five years. The investor sold 40 Spring Gardens in the summer last year to Climate Change Capital for £47.5m. It is actively seeking to purchase further offices in Manchester City Centre, with up to £10m to spend on a suitable scheme.

Meanwhile, also in the North West, Apollo Cinemas has appointed property consultancy Nolan Redshaw to sell its headquarters, comprising 6,500 sq ft of office space in Preston, Lancashire, having decided to relocate south to new office space in London.

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Posted by Jenni