A prominent business park located near Manchester Airport has changed hands in a multi-million pound transaction that highlights the continued strength of the city's commercial property market.
Strategic Acquisition by Hill Family Company
Manchester Holdings Limited, a company owned by brothers Tom, Richard, and William Hill, has completed the acquisition of Manchester Business Park. The property was marketed by Savills with an asking price of offers in excess of £19.5 million.
The business park comprises four buildings totalling approximately 195,000 square feet of premium office space. Situated adjacent to the £1 billion MIX Manchester development zone, the estate boasts an impressive 94% occupancy rate, with only 11,675 square feet currently available in Building 1000.
High-Profile Tenant Roster
The park hosts several household name brands, including consumer goods giant PZ Cussons, which maintains its global headquarters at the location. Other notable occupiers include international airline Emirates, infrastructure group Costain, and flexible workspace provider Regus.
Tom Hill of Manchester Holdings commented on the strategic nature of the investment, stating: "Manchester Business Park represents a strategic investment opportunity for us. Thanks to its high calibre of occupiers, the incredible location, and high specification office buildings, the space has great potential, and we're looking forward to working with the tenants to maximise this."
Manchester's Dynamic Office Market
The sale process attracted significant interest according to Oliver Foster, director and head of northern investment at Savills, who noted: "The property attracted significant interest and was sold following a competitive bidding process which demonstrated the depth of investor demand for value add opportunities."
Dominic Pozzoni, head of National Offices at Colliers, which advised Manchester Holdings on the acquisition, emphasised Manchester's position as "one of the UK's most dynamic office markets". He highlighted the city's appeal to global businesses and investors, citing its strong talent pool, infrastructure, and growth potential.
The transaction involved multiple professional firms, with JMW Solicitors providing additional advice to Manchester Holdings and DLA Piper UK acting for the Joint Fixed Charge Receivers. Ben Moon of BNP Paribas Real Estate acted as Joint Fixed Charge Receiver, with Savills handling the marketing on his behalf.
Thomas Pearson, head of commercial real estate at JMW, reflected on the broader market implications: "We are delighted to have advised on this significant acquisition, which reflects the continued strength of the investment market in Manchester. Transactions of this scale require a proactive and collaborative approach."
The successful sale underscores investor confidence in Manchester's commercial property sector and the ongoing demand for well-located, high-quality office space in the North West region.
