Candour picks up Manchester office tower

Privately-owned UK property developer and asset manager Candour has acquired 39 Deansgate in Manchester City centre.

Financial details were not disclosed.

The existing 8-storey building is a 1960s mixed-use retail and office property totalling 41,000 ft2 (3,800 m2).

On behalf of the Aegon Property Income Fund, Sheppard Robson architects in conjunction with CBRE Planning obtained planning consent in January 2022 to redevelop the property to provide a new mixed-use, workspace-led scheme of 200,000 ft2 over 17-storeys.

Toby Pentecost, co-founder at Candour commented: '39 Deansgate is a 100% prime development site within Manchester’s city core market.

'With a planning consent in place it gives Candour the opportunity to deliver a brand new best-in-class Grade A office development.

'Candour will be working with the incumbent design team and with Manchester City Council, to deliver a series of optimisations to the consent to ensure that the building is the most efficient and sustainable use of this gateway site.

'Candour has a track record for creating and refurbishing buildings with a high-performance in energy efficiency and sustainability and we look forward to working in Manchester to offer occupiers a highest-quality workspace with peerless ESG profile.'

Candour represented itself in the transaction with Acuity Law acting on the legals. The vendor was advised by CBRE Manchester, with Trowers & Hamlins giving legal counsel.

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