DTZ sells small office freehold

Recruitment consultant Cast UK has bought an office building near Deansgate station in central Manchester from media company Drumbeat Creative.

The 2,350 sq ft self-contained office unit at 3 Jordan Street in the Knott Mill area off the end of Deansgate was sold for £228/sq ft.

Simon Roddam, office agency surveyor at DTZ in Manchester, advised Drumbeat Creative. Roddam said: "Freehold transactions are few and far between in the current economic climate. This is due to a number of factors including lack of liquidity and difficulties in securing bank finance.

"The transaction shows that with a successful marketing strategy and a pragmatic approach a sale can be achieved. There is also a level of pent-up demand in the current marketplace."

Drumbeat Creative is now based nearby in Sun House, Little Peter Street.