Kuits advises Beech Holdings as it secures St James’ Square offices for residential development25 Jan 2017
Kuits has advised Beech Holdings on the £5.27m acquisition of city centre office building 11 St James’ Square.
Situated on John Dalton Street, the 22,374 sq ft property was purchased from Readycount, a subsidiary of stockbroker WH Ireland.
Beech Holdings plans to convert the upper floors of the building into 48 apartments, with the ground floor continuing to operate as retail units. The offices will continue to be occupied by WH Ireland staff for the next five months.
Kuits advised Beech Holdings on the acquisition, alongside property consultancy WHR.
Founder and owner of Beech Holdings, Stephen Beech, commented: “Getting the deal over the line has required a lot of hard work from our acquisitions team led by [our director] Justin Rouse. We agreed terms just prior to Christmas and worked hard to conclude what was a fairly complex transaction in four weeks.”
Kuits commercial property partner, David Moroney, added: “It’s been a pleasure to work with Beech Holdings on yet another significant acquisition in Manchester. With demand for residential property soaring in the city, the space at St James Square will alleviate some of the pressure and undoubtedly be highly sought after by those seeking the city centre lifestyle.”
Other Beech schemes in Manchester include conversions at Mindel House and 11 Bloom Street, as well as a 53-apartment new build scheme in Castlefield.