TriOffice, the office investment arm of specialist U.K. value-add real estate investor and asset manager Tri7 Group, has acquired an asset in Manchester in a joint venture with The Pears Group, marking TriOffice’s first investment since being set up in September 2024.
The deal, in which TriOffice co-invested alongside Pears, was acquired from a U.K. institutional vendor. 55 Spring Gardens is a 55,385-square-foot prime freehold office building arranged across ground and nine upper floors, located on the corner of Spring Gardens and Fountain Street within Manchester’s central business district. The asset is multi-let to a strong mix of tenants – including Clarke Willmott, SysGroup and CAF Rail – off a low average passing rent of £28.86 ($37.47) per square foot, offering significant reversionary potential.
The asset, which has undergone two major refurbishments in the past decade by its previous institutional owners, benefits from excellent natural light from thr
