Orchard Street Investment Management has completed the acquisition of 4 Hardman Square, a prime office development in Manchester’s Spinningfields, for £31 mln (€39 mln).
Orchard Street Investment Management has completed the acquisition of 4 Hardman Square, a prime office development in Manchester’s Spinningfields, for £31 mln (€39 mln).
Orchard Street acquired the asset on behalf of St James’s Place from a GLL Real Estate Partners fund.
4 Hardman Square provides 5,000 m2 of Grade A office accommodation spread across five levels above a double height ground floor. The property is fully let to two corporate tenants, HSBC Bank and Grant Thornton UK, with a weighted average unexpired lease term of seven years.
Completed in December 2006, the property was designed by Foster & Partners in conjunction with the adjacent 3 Hardman Square, and holds a “Very Good” BREEAM rating.
Orchard Street was advised by DTZ while CBRE and Norton Rose Fulbright acted for GLL.
