Highcross buys office portfolio in the north

Office design news from Morgan Lovell

Published on 22-03-2011

Highcross has confirmed a deal to purchase offices in the north of England.

Last week, the property fund manager acquired a portfolio of buildings in a contract worth £9 million.

The firm's new assets could undergo office refurbishment following the acquisition in order to yield a higher price when let to new tenants.

Highcross' latest collection includes properties in Leeds, Preston, Sheffield and Hull and total space of 118,806 square feet.

Richard Pellatt, director of Highcross' northern office, said: "The purchase represented an opportunity to acquire a quality office portfolio with a diverse regional spread and strong mix of tenants."

He added that the properties were bought in regional locations in order to provide "active asset management angles".

Highcross also revealed last week that it has let 130,000 square feet of warehouse space in Merseyside to Allen Logistics on a ten-year lease.

Posted by Adrian Norman