A landmark building in the centre of Manchester now has new ownership following a successful sale secured by Landwood Group.
The 15,694 sq ft Richmond House on Bloom Street in The Village was snapped up by Oxford Court Partnership as a long-term hold investment opportunity.
The five-storey Victorian building comprises a bar, restaurant and seven offices. The property shares a grand history, being constructed at the same time as London’s Tower Bridge and when the Statue of Liberty was first being transported to New York City.
This sale was a joint effort between two businesses headquartered in Manchester, as Sixteen Real Estate acted on behalf of the purchasers and Landwood Group negotiated the sale for the existing owner.
Anna Main, Director of Commercial Asset Management at Landwood Group, who has held the property through two previous owners, said: “Richmond House is a tremendous investment opportunity as a prime freehold investment in the heart of the city centre.
“I’ve worked on this beautiful property for a decade now and was instructed by a long-term client to sell the property with the sale being finalised in February 2022. The success of the asset really highlights the benefits of offering a full range of services to clients within our department from purchaser through to sale.
“Our experienced asset management team conducted a range of services on this instruction over the years and we are delighted to be instructed as managing agents for the property by the new purchaser. It was great to work on this with Sixteen Real Estate and we look forward to managing the property moving forward.”
Scott Shufflebottom of Sixteen Real Estate who acted on behalf of the purchaser said: “Having worked with the purchaser for many years, we are delighted to have acquired Richmond House on their behalf.
“Richmond House was a great fit for our client and there is plenty of scope to drive the investment value over time. We look forward to working with Oxford Court Partnership and Landwood Group to unlock additional value in the asset.”
Sixteen Real Estate are retained as leasing agents.