PIN Property have acquired BASF former offices in Cheadle, following the announcement that the chemical company will move its UK headquarters from Cheadle to 2 Stockport Exchange.
The 80,000 square feet office complex was purchased from BASF in a £6 million deal, exchanged and completed in three weeks.
The site at the intersection of the A555 Manchester Airport Link Road, and the A34 in Cheadle is well-situated for connectivity links to South Manchester and the rest of the UK. Space is due to come available in the offices when BASF relocate to Stockport Exchange later in 2020.
Phil Meakin of PIN Property said:
We are absolutely delighted to have secured this asset and look forward to bringing the remodelled, refurbished building back to the market towards the end of the year. The new airport link road has dramatically improved this location and we are extremely upbeat about the re-letting prospects going forward.”
Chris Mulcahy of JLL, who represented BASF in the sale of their offices, said:
Given that there has been very little new office development in South Manchester for around 15 years, there is minimal high quality office stock available. It is therefore expected that this space will be welcomed by the market.”
Manchester based solicitors, Kuits, advised PIN Property on the legal and commercial aspects of the transaction, led by partner Nick Nyunt and Nadia McMahon-Wilson. Yorkshire based Gordons LLP acted for BASF.