A property investor has bought grade II listed office building Haw Bank House, in Cheadle, from Bruntwood.
Hollins Murray Group purchased the 1.12 acre site from Bruntwood for its asking price of £3.65 million after a recent refurbishment by Manchester-based Bruntwood.
The original Haw Bank House was built in the late 18th century and was converted into offices in 1984 when two new wings were also added. The building has been sold fully let, with tenants including Shepherds Friendly Society, whose lease for the entire first floor runs until 2033, and Ping Europe. The building includes 81 car parking spaces and over 16,000 sq ft of offices over two floors.
According to the sales brochure, Haw Bank House will generate £262,000 per annum for Hollins Murray Group. The company’s commercial property portfolio is valued in excess of £110 million.
Nick Casson, CEO of Hollins Murray Group commented:
Haw Bank House is a high quality office property in an appealing location, with generous car parking and is well let on relatively long unexpired lease terms. It is less opportunistic than some of our other recent purchases and the rational for buying this high quality asset is part of our wider strategy to balance risk as we seek to grow our portfolio.”
The investors have a commercial property porfolio across the North West. The recent purchase adds to the Hollins Murray Group’s presence in Stockport; the investors also own Carrs House on Horsefield Way, Bredbury.
Carrick Real Estate acted for Bruntwood. Metis acted for Hollins Murray Group.