The Towers office park in Didsbury was sold by the investment group Wereldhave and acquired by a joint venture partnership between the Moorfield Group and the Manchester-based Property Alliance Group.
Plans are in place to carry out an extensive refurbishment programme to enhance the attractiveness of the offices that are a short drive to Manchester city centre and a short walk to Didsbury Village.
“We are confident in this asset’s potential to become an even more successful and desirable location following our focus on building and site improvements, satisfying current and future occupier demand and requirements,” said Marc Gilbard, chief executive of the Moorfield Group.
“We believe we have acquired the right investment for our partnership with Moorfield, offering substantial potential to improve and enhance the value of the estate,” added Dominic Pozzoni, director of Manchester’s Property Alliance Group.
The development comprises nine office buildings within a 19-acre area of landscaped parkland near the M56 motorway. Its tenants include Vodafone, British Airways, John Lewis, and Cisco.
The new owners of the Towers noted that transport links to the site are set to be improved considerably in 2013 when Greater Manchester’s tram system is scheduled to add a new station in Didsbury.
“The Towers has it all,” said Pozzoni, “The location, ample amenities, strong existing occupiers and the ability to expand in its use and appeal for further occupiers.”
Editor’s notes: In Q1 2023, new landlords Kennedy Wilson secured 37,000 sq ft of leases with five new tenants at Towers Business Park.
The new tenant line-up included Essity, NCC Education, I Love Cosmetics, Sitel Group and a national housebuilder, bringing the site to 95 per cent occupancy.
The new occupiers joined existing tenants, including Syngenta, British Airways, Cisco, Regus and Hitchenor Wakeford, which had also recently taken additional space.
In February 2024, it was announced that Blume, a customer acquisition specialist for the legal sector, had taken 10,500 square feet at the business park’s Egerton House.
The move saw the company relocate from a pair of offices in West Didsbury and the city centre into a single Manchester head office for its 100 staff.
At the time, Egerton House was owned by Property Alliance Group and was the only office building at Towers Business Park not owned by Kennedy Wilson.
As of May 2024, there was 12,751 square feet of offices available to rent at Ocean House, 3,9751 square feet at Pavillion, and 12,158 square feet of space available at Scotscroft.