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One Didsbury Point office building sold for £11m

Cervidae has acquired South Manchester’s Grade A office building One Didsbury Point for £11 million.

The 54,252 sq ft property is currently home to occupiers including Optegra, Carrier Travel, Bouygues and IBI Group.

London-based real estate investment and asset management firm Cervidae has purchased the Didsbury building from Titanium Real Estate, which teamed up with Chenavari to buy it in a joint venture in May 2016.

The joint venture carried out a refurbishment to attract new tenants to the building.

One Didsbury Point is the latest addition to Cervidae’s international portfolio, following other recent acquisitions including a Chester retail parade in the North West.

A spokesperson for Cervidae says: “One Didsbury Point is a best in class asset, offering opportunity to increase value through its reversionary income and is a strong addition to our portfolio.

“We continue to look for further commercial property investments across the UK to support our strategy of purchasing well-located assets with potential for capital improvement and increased income generation.”

Avison Young acted for Cervidae in the transaction, and Metis Real Estate Advisors acted on behalf of Titanium.