Roger Hannah & Co has acquired the long leasehold interest of the offices that they occupy at Century Buildings, Parsonage Gardens, Manchester.
The practice took advantage of an option agreement that they held with the Landlords, Property Alliance, to acquire the 9,500-square-foot office premises for £1,250,000. The transaction reflected an initial net yield of 9.04%, with Roger Hannah & Co being the single occupier, paying a rental of £119,500 per annum.
Commenting on the transaction, Simon Cook, Director of Roger Hannah & Co, said, ‘the acquisition is part of our commitment to increasingly making the Business a force on the Manchester property scene and should enable us to further expand our Manchester operations. As owner occupiers, we received fantastic support from both the National Westminster Bank, who showed a real appetite to lend in an increasingly improving market and from our solicitors, Myersons.’