A landmark Manchester office development has been sold to a global private equity firm.
Anchorage 1 and Anchorage 2 in Salford Quays have been acquired by Investcorp after having had "great success" with lettings at the latter over the 12 months prior to the pandemic.
A refurbishment of Anchorage 1 was completed by Canmoor and HIG last year, meaning Citivale, which will act as asset manager for Investcorp, can lease the remaining 28,000 sq ft of office accommodation.
Rebecca Farnsworth, investment director at Citivale, said: “We are very pleased to have completed another transaction with one of our longstanding partners, Investcorp, to continue the growth of our joint venture.
"Anchorage offers flexible, high-quality office space and best-in-class amenities at competitive rents in the dynamic media and tech-focused Salford Quays market.
"We have already completed an expansion with existing tenant Campfire and look forward to marketing the remaining space, where we have been encouraged by the strong interest we have received.”
Knight Frank was appointed to sell the building by HIG Capital and Canmoor, who were the operating partners.
Matt Stretton at Knight Frank added: “This was a great instruction to be involved with, although marketing a part vacant office building during lockdown provided its challenges.
"We needed to use every bit of experience to demonstrate how the tenants will occupy the building after lockdown and the letting prospects for the vacant accommodation.”
