Land and property company the HIMOR Group has recently announced the sale of its former headquarters in Manchester city centre for a figure close to £7m.
The building is located on Clarence Street in the city centre, meaning that it is an ideal location for businesses to base themselves, due to excellent transport links in the area and a thriving business district in close proximity.
Clarence House has been acquired by real estate investment management company CBRE Global Investors, which was legally represented by CBRE and DAC Beachcroft. The endearing contemporary building is the latest acquisition by the firm, which has offices all over the world in locations such as Los Angeles, Dubai and Shanghai.
The HIMOR Group sold the office block as they relocated to a new office space in Manchester’s outer suburbs, moving to Carrington Business Park. The £6.94m sum the firm received in the sale represents a net yield of 5.62%.
HIMOR Group’s managing director, Will Ainscough, has wished the new owners well in their future endeavours with Clarence House, stating that the building provides a fantastic office space for its tenants in an enviable location.
The company purchased Clarence House back in 2011 for a sum of £2.8m, and has since completed a comprehensive refurbishment of the 19th-Century building, which has seen the company be able to provide 17, 514 square feet of office space for its tenants. These include Infinity Asset Management, Viridor Waste Management, Applied Card Technologies and Primary Capital Partners.