Northwest-based Seneca Property has completed the freehold acquisition of Brightgate House, 1 Brightgate Way, Trafford Park, Manchester, M32 OTB from London & Oriental, its second significant acquisition since launch in September this year, with further completions currently progressing.
Brightgate House is a freehold grade A office building comprising 22,003 ft² and situated in a highly prominent position, with direct road frontage to Barton Dock Road close to the Trafford Centre and Junction 9 of the M60. The property is let to Markem – Imaje and M2 Digital on the 10-year lease with a total AWULT of five years to break.
Jeff Morton, Managing Director of Seneca Property said, “We are delighted to have acquired Brightgate House which is an excellent office investment in a highly visible location with strong institutional property fundamentals. This purchase follows on from our €22.6m (£20m) acquisition of the Biz – Hub serviced office business in September and sits alongside several other deals currently in lawyer’s hands and due to exchange or complete pre-Christmas. We continue to have a significant firepower and are actively seeking further opportunities in all asset classes.”
London & Oriental was represented by Christopher Dee LLP and Hague Nicholls Ltd. Seneca Property’s legal advice was provided by TLT LLP.
