BRIDGE GROWS ITS INVESTMENT PORTFOLIO WITH OFFICE PURCHASE
Bridge Properties is continuing to grow its investment portfolio with the acquisition of Dominion House in Birchwood, Warrington from Kames Capital.
The plans for Dominion House aim to replicate the success achieved at Eden Point in Cheadle, where Bridge acquired the prominent office building which fronts onto the A34 and transformed it into a high-quality working environment. Last year the scheme secured five new lettings alone, which now leaves only just over 3,000 sq ft vacant.
Design consultancy, Incognito has been retained to design the fit out of Dominion House which comprises c41,000 sq ft over three floors and will be available to let later this year in suites from 3,500 sq ft upwards.
Speaking about the opportunity, Mark, Canning, director at Canning O’Neill, who advised Bridge on the acquisition of Dominion House, commented: “There is a lack of high-quality, inspirational office accommodation available to let in the Birchwood area and Bridge intends to take the Eden Point concept one step further by adding roof terraces and a bar, in addition to top quality café, outside break out space and hotel quality common areas.”
This acquisition comes after Bridge successfully sold Canute Court in Knutsford to Carter Gem in February having re-geared the occupational lease with the tenant TT Games, a subsidiary of Warner Brothers. Bridge originally acquired the building in May 2019.
Paul McCann from developer Bridge Properties added: “As occupiers are now returning to their offices, the general consensus is that occupiers are looking for higher quality space than before the pandemic. Eden Point has become an excellent blueprint for this type of office model, and we look forward to replicating this at Dominion”
Canning O’Neill has been retained as letting agent on Dominion.
Canning O’Neill and Williams Sillitoe are the retained joint letting agents for Eden Point.
Carrick Real estate and Savills acted on the sale of Canute Court.
JLL and Savills were joint agents acting for Aegon Asset Management on the sale of Dominion House
Dominion Purchase price undisclosed.