Newspaper article Manchester Evening News

City Centre Buildings Are Sold in Pounds 16.3m Deal ; Historic Sites Will Be Turned into Offices, Shops, Restaurants and Co-Working Space

Newspaper article Manchester Evening News

City Centre Buildings Are Sold in Pounds 16.3m Deal ; Historic Sites Will Be Turned into Offices, Shops, Restaurants and Co-Working Space

Article excerpt

ACLUSTER of four historic city centre buildings has been sold for Pounds 16.3m.

The properties, off Albert Square, Manchester, have been bought from The Wrather Group by LJ Group.

The buildings will now be revamped and turned into high-quality offices, with ground floor shops and restaurants and will include co- working space for entrepreneurs.

Together, the four buildings make-up the whole of the northern and a large part of the southern side of the square. They consist of 70,000 sq ft.

The oldest of the buildings dates back to 1874. It was constructed by Scottish Widows and sold by them to The Wrather Group in 1974. It has been owned and maintained by Wrather for the last 40 years, along with the other three properties.

It is the first deal LJ Group has completed outside of London and it said further regional swoops are planned. The group also has experience running co-working spaces for charities and entrepreneurs and has interests in creative hubs, such as The Refinery London, in Chelsea, and Maker Wharf, in Shoreditch.

The LJ team responsible for this latest project is led by Sam Lawson Johnston, George Haddo and Lord Nat Wei of Shoreditch, who helped found the Manchester-China Forum. …

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