Real estate consultancy firm OBI has advised Urbana Partners on their Manchester debut purchase of 17 Quay Street.
Urbana Partners has completed the purchase from Aberdeen Standard.
17 Quay Street comprises a 58,000 sq ft vacant office building, which is strategically well located on the corner of Quay Street and Byrom Street, with exceptional nearby amenities between Spinningfields and St John’s, Enterprise City.
Scott Gemmell says: “We are pleased to have secured this quality ‘value add’ office investment opportunity for Urbana Partners. The asset offers clear asset management initiatives, whilst taking advantage of the strong fundamentals that the Manchester office market has to offer.”
Nick Lloyd says: “We are delighted to have completed the acquisition of 17 Quay Street. The building benefits from a prime location and a configuration that will enable us to pursue a high quality, ESG conscious refurbishment orientated towards the increasing post Covid occupational demand. This is Urbana Partners fourth UK acquisition in the past 12 months, and we will continue to target stable income and end of life office repositioning opportunities throughout the UK”.
OBI worked closely with James Evans from Savills who advised the vendor, Aberdeen Standard Investments.