Boss of Beech Holdings, Stephen Beech hopes to convert the 24,000 sq ft Salisbury House, located just off Princess Street into around 90 high-spec carbon-neutral apartments.
Property development and regeneration company, Beech Holdings have completed the purchase of a city-centre office building, Salisbury House in a deal worth £3.5m.
The property was once owned by Manchester City Council and then subsequently by Transport for Greater Manchester but for the past five years, it has been left to rot.
According to Stephen, the property had become an eyesore, according to Beech Holdings’ boss Stephen Beech, after being subjected to graffiti and vandalism.
He also revealed that all the apartments have already been pre-let to young professionals, many of whom will graduate from the city’s universities this summer.
Stephen said: “Buying this building is a big result for Beech. We’ve wanted to buy Salisbury House for a while and it has happened after three hard weeks of negotiations, which means we can bring it back to life.”
A planning application has now been accepted for external alterations, such as new cladding and windows and façade replacements.
The rest of the building has permitted development rights, meaning Beech’s staff of more than 80 people can get straight to work without having to submit a planning application.
Stephen added: “We are excited to have bought this building. The demand for housing in Manchester is very high at the moment. Students want to stay here after graduating and enjoy a good start to their professional careers in high-end city centre apartments which is what Salisbury House will offer.
“This will also help push along Manchester council’s plan of building 25,000 homes over the next decade.”
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