Property Route has completed the £10m acquisition of two commercial developments in Bolton town centre, purchasing a total of 56,000 sq ft at Churchgate House on Churchgate and Huntingdon House on Princess Street, just yards from the £196m Church Wharf regeneration scheme.
The properties are home to over 30 organisations including the headquarters of restaurant group, La Tasca, the Crown Prosecution Service and Kelly Services. They will generate £700,000 per year in rental income for Property Route.
Alison Key, a commercial property partner at Beachcroft advised Property Route on the deal.
Commercial Property Director David Pelham said: “With millions of pounds of investment in the regeneration and marketing of Bolton, we feel now is the ideal time to enter the town. The prime location of these developments and their established tenants make them an excellent investment opportunity.”
Neil Beverley, at Matthews &Goodman, managing agents for the two properties, said: “Property Route was looking for a company that can provide a comprehensive all round personalised management service that have a good track record in the local area and we met that criteria.
“We are delighted that we have been given the opportunity to work alongside Property Route in managing both these new acquisitions.”