Pitalia sets up shop in Manchester

The real estate investor, headed up by former JLL North West chairman David Lathwood, is relocating its operations from Bolton to Oxford Court in the city centre. 

Pitalia Real Estate has acquired the 3,200 sq ft 24 Oxford Court for around £1m. The deal will see the company take over the remainder of the 999-year lease from BW Sipp Trustees. 

The three-storey office will act as the firm’s new Manchester headquarters “as it seeks to continue targeting investment opportunities across a range of property sectors”, the company said. 

Other occupiers at Oxford Court include the Professional Footballers Association, Freeman & Co Solicitors and Sir Robert McAlpine. 

The Turkish Consulate has also agreed to take space at Oxford Court, subject to planning. 

Pitalia’s new head office is the company’s second investment in Manchester city centre since it launched in March. 

Earlier this year Pitalia bought Aeroworks in Ancoats for £9.3m. In June, the investor acquired the former Hilti headquarters on Trafford Wharf in partnership with CTP. 

Greg Ball joined the company in September, leaving Urban Splash to team up with Lathwood. 

“Having spent over 30 years of my career working in Manchester city centre, I’m excited at the prospect of moving back again,”” said Lathwood, chief executive of Pitalia Real Estate. 

“As our second acquisition in the city centre, this deal reaffirms our commitment to targeting and developing top-class assets and will act as a signal of our intent to grow and develop our portfolio as the market rebounds from the pandemic.” 

Pitalia was advised on the deal by Colliers. Canning O’Neill acted on behalf of the vendor.