Deal Marks The Latest High Profile Transaction For IM’s Manchester Real Estate team

The Manchester office of law firm Irwin Mitchell has advised on the sale of Salford Quay’s office complex, Exchange Quay.

The site, which comprises over 430,000 sq ft of office space, has been acquired by a North American Institution for an undisclosed sum in a deal completed by its advisor, Edinburgh-based Hunter Property Fund Management (HPFM).

The deal will also be followed by further investment of £10 million into remodelling and refurbishing the scheme.

Often described as the ‘Canary Wharf of the North’, Exchange Quay is one of the largest office developments in the North West. It comprises six office buildings with tenants including Sage UK, GAB Robins and CH Robinson.

The Exchange Quay transaction is the latest high profile property deal that the Irwin Mitchell team in Manchester has worked on in the North West during the last few months.

In October, Irwin Mitchell announced it had advised Resolution on its £71m purchase of the Great Northern Warehouse on Manchester’s Deansgate. Ahead of this, the team advised ITV on the sale of the former ITV Granada site on Quay Street.

Expert Opinion

This is another significant real estate transaction in the North West which once again highlights the growing international interest in the region’s property assets.” Roy Beckett - Partner