Newton-Le-Willows based Seneca Property has bought Brightgate House on Manchester’s Trafford Park estate from property investment specialist London & Oriental.
Brightgate House is a freehold grade A office building comprising 22,003sq ft 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 10-year leases with a total average weighted unexpired lease term of five years to break.
Seneca Property was given exclusivity on the transaction due to its reputation for completing acquisitions quickly and efficiently, whilst working collaboratively with vendors.
Jeff Morton managing director of Seneca Property said: “This purchase follows on from our £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 significant firepower and are actively seeking further opportunities in all asset classes.”
London & Oriental was represented by Christopher Dee and Hague Nicholls. Seneca Property’s legal advice was provided by TLT.