A private pension fund has paid £1m for the freehold of an Altrincham office block.
Regional Property Solutions sold 6 St George’s Court, on Altrincham Business Park, on behalf of the vendor, Spatial Office Environments, to the unnamed pensions provider.
The high spec office building was bought in a dilapidated state and then extensively refurbished as a showcase of Spatial Environments’ fit-out capabilities.
Spatial Environments occupied the building, which comprises 5,000 sq ft of premium office space on the ground and first floor.
Phil Simmonds, managing director of Spatial Environments, said: “Whilst a home to us for a only a few years, this out of blue opportunity has allowed us to push forward with our expansion plans with a new building and an all new workplace showcasing our prowess once again.”
Daniel Lee, managing director, Regional Property Solutions, said: “This was an off market sale which realised the highest capital value of £200 per sq ft that has been achieved in Broadheath in the last 10 years and reflects the quality of the building and its interior.”
Nick Davies, partner, Axis Property Consultancy, who acted for the purchasers, said: “The property will be occupied by 3mc, a leading mortgage company, who are delighted to be taking this excellent office building and expanding their presence.”