Member Article

Wilmslow firm advises on Stockport Pyramid deal

Property law specialists Jackson Barrett & Gass has advised their client Eamar Developments on the purchase of the iconic Stockport Pyramid from the Co-operative Bank.

This is Eamar’s latest property acquisition, adding to their circa £30m portfolio.

The Pyramid is a landmark Stockport site, located next to junction 1 of the M60, and has been home to the Co-operative Bank since 1995 with 86,000 square feet of office space.

Speaking about the deal, Rick Barrow, Marketing Director of Jackson Barrett & Gass said, “We are pleased to have acted on the purchase of this iconic site. Our client has been looking to make property purchases in the North West and are actively seeking new opportunities in the Stockport area.”

Eamar Developments will shortly commence a complete refurbishment of the property which will then be let as prime office space. Speaking about this, Eamar Development Executive Manager, Abduallah Alnaeem said, “This is certainly a flagship Stockport property and we are delighted to have the opportunity to make a significant investment in its refurbishment.

“Stockport Council have outlined their transformational vision for the town which includes 1m square feet of mixed employment space. The town centre is undergoing a massive regeneration programme and it’s great to be part of it.”

The building has been purchased on a freehold basis with Cushman & Wakefield acting for the Co-operative Bank. Colliers International also acted for Eamar Developments from a business rates perspective. Colliers International and Impey are currently marketing the refurbished office space.

This was posted in Bdaily's Members' News section by Charlotte Gribbin .