Saudi investor buys Manchester council office for £14m

Wellington Properties has sold Etrop Court in Wythenshawe to Almajdiah Company. 

International Investment Gate, acting on behalf of the Saudi Arabia-based investor, has acquired the 48,700 sq ft property for £14.1m. 

The Rowlands Way building is let to Manchester City Council until 2031 and is home to departments including home care, children services, adoption agency and neighbourhood services.  

“Etrop Court complements our strategy of expanding our global real estate portfolio underpinned by stabilized investments and achieving diversification,” said Majed AlMajed, director at Almajdiah Company. 

Almajdiah Company was represented by Freddie Guest of Savills and Wellington Properties was represented by Matthew Stretton of Knight Frank. 

Dr Mohammed Alswaidan, chief executive of International Investment Gate, said: “The building is integral to the council’s role of delivering services to the region and, with a further 10 years of the lease left to run, the property offers an attractive income stream for the purchaser.”  

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