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.