Landmark Manchester city center offices sold to Bruntwood Group in multi-million pound trade

A landmark office building in the center of Manchester has been acquired by commercial real estate giant Bruntwood Group in a multi-million pound deal.

The Class II-listed Pall Mall Court has been acquired from the Ardstone Regional Office Fund, a joint venture fund between Ardstone Capital and CBRE IM.

The King Street building was built in the 1960s and was renovated in 2002 and contains shop premises on the ground floor with offices above. It contains 83,808 sq ft of office space across three blocks.

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In a statement, Bruntwood said the purchase is “driven by the resurgence of demand for inspiring, flexible office space” in the city center.

Bruntwood Works, the group’s work area, retail and leisure branch, will now design, develop and deliver the renovation of the building.

The ground floor will be transformed to offer a new “hospitality-driven arrival experience” and will incorporate outdoor seating in the external piazza, creating a new public space.

Bruntwood Group Commercial Director Andrew Butterworth said: “Manchester city center is back and with it the growing demand for spaces that allow innovation and entrepreneurship to flourish.

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“Pall Mall is one of the city’s most recognizable buildings, and we are pleased to not only bring it into our portfolio, but to invest in an exciting transformation.

“Work patterns have changed since the pandemic, but it has made the functionality of the office even more critical.

Pall Mall Court, King Street, Manchester
Pall Mall Court, King Street, Manchester

“They should not only be places that people want to go to, but spaces that allow teams to meet and do their best work.”

Ciara Keeling, CEO of Bruntwood Works, added: “We are pleased to announce the latest building in our Pioneer Plan, which creates the future of workplace design with unique retail and leisure offerings.

“Pall Mall is a beautiful Grade II listed building with enormous potential in a thriving part of the city center, so it was the perfect choice for us.

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“And we’re just getting started. Our ambition is to continue to bring innovation to the forefront of Manchester’s office market, providing unrivaled workplaces that offer inspiration and flexibility while promoting well – being, hospitality and sustainability.

“This recent acquisition marks an exciting milestone in the growth and development of our Manchester portfolio, strengthened by its position within a cluster of our existing properties.

“We always see great potential in the city, and we are excited to continue to develop our Pioneer program in the years to come.”

Mike Cecil, Head of UK Asset Management at Ardstone Capital, said: “We are delighted that Pall Mall Court’s undoubted potential will now be realized and that it will make a major contribution to Manchester City.

“The sale will now allow us to concentrate on further projects in Edinburgh and Bristol.

CBRE and Addleshaw Goddard LLP advised Bruntwood Works on the transaction.

Ardstone Capital was advised by Avison Young and Pinsent Masons.


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