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21st April 2021Ashtrom Properties UK’s £82 Million Acquisition Of No. 8 First Street

Ashtrom Properties UK acquired No. 8 First Street, a prime office development in Manchester – one of the largest single-asset transactions in Manchester for several years.

No.8 stands in the centre of Manchester’s £500m First Street development and delivers 170,000 sq. ft. of Grade A, BREEAM Excellent office accommodation over six floors.

The scheme was completed in 2019 and current tenants include multidisciplinary consultancy WSP, energy company Gazprom, cinema brand Odeon, advisory, broking and solutions company Willis Towers Watson, and biotechnology firm Lonza.

Key points:

  • HW Fisher were proud to advise Ashtrom Properties UK on financial due diligence and tax aspects of the deal. Memery Crystal provided legal advice.
  • The HW Fisher team was led by Helen James and Toby Ryland

Guy Lewinsohn, Ashtrom Properties UK CEO commented “This property is a great addition to our existing portfolio and demonstrates our commitment to expanding in the UK market. We look forward to many more transactions with HW Fisher in the future.”

Commenting on the deal close, Helen James, corporate finance partner said:

“This was one of the largest single-asset transactions in Manchester for several years and represents a significant increase in the Ashtrom group’s UK property portfolio. No.8 stands at the centre of Manchester’s £500m First Street development and we’re proud to have supported in such a significant deal, not only for Ashtrom, but also for regional city investment.”

Key contacts

Helen James HW Fisher

Helen James
Partner

020 7874 1163
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Connect with Helen James
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Toby Ryland HW Fisher

Toby Ryland
Partner

020 7874 7959
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Connect with Toby Ryland
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