Eversheds office sold to Credit Suisse
10 June 2019 10:38
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State Street Corporation has sold 70 Great Bridgewater Street in Manchester, home to law firm Eversheds Sutherland, to Credit Suisse Asset Management.
The sale price of the 70,000 sq ft offices was undisclosed, however is understood to have sold for more than the asking price of £24m.
A sale at £24m would give a net initial yield of 7%.
Eversheds fully occupies 70 Great Bridgewater, but is set to relocate its 300 staff to English Cities Fund’s Two New Bailey when the 188,000 sq ft building completes next year.
CBRE acted for Credit Suisse while JLL acted for State Street.
