VISION Developments, the company set up with backing from Limerick-based investor Morgan Leahy, has made its first major purchase in central Manchester.
Vision led a consortium which paid around £3.5m for Maple Grove Developments’ Invicta House in Atkinson Street, close to the 4m sq ft Spinningfields development.
The 10,000 sq ft building overlooks the Royal Bank of Scotland headquarters on Hardman Street. Plans for redevelopment will be unveiled soon, says Vision.
Andy Lavin, director of Maple Grove, said: “We placed this property on the market at the beginning of September, with the aim of generating a profit for the wider group, and we are delighted.”
Stephen Cliff, managing director of Vision Developments, said: “Invicta House is Vision’s first major purchase in Manchester, and we couldn’t have hoped for a better placed opportunity. It joins our exciting and well placed portfolio of opportunities in the north west.”