Office site near Old Trafford sold in £1.9m deal

Property firm Acre Manchester Ltd has snapped up a six-storey office building located opposite Old Trafford, the home of Manchester United, for £1.9m.

The 31,000 sq ft site at the junction of Warwick Road and Chester Road was sold on behalf of investment firm O&H Properties by commercial property consultant Canning O’Neill.

Known as 701 Chester Road, the building is part let to organisations such as Manchester United, multidisciplinary consultancy Hilson Moran and market research firm ORC International.

Discussing the deal, Canning O’Neill director Conrad O’Neill said: “We had a huge amount of interest in the property and the purchaser moved very quickly to secure the building, exchanging contracts just seven working days after the agreement of terms.

“The strong existing tenant line-up and the improving out of town office market made 701 Chester Road an exciting opportunity and this deal is further evidence of the strength of the investment market in Greater Manchester.”

He added: “The continued improvement in the occupational market and the potential for alternative use at a later date make this a strategic purchase for Acre Manchester Ltd.”

Following the sale, Canning O’Neill and Cushman & Wakefield have been retained as joint letting agents to market the remaining 9,850 sq ft of office space.

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