Bolton-based developer Hamill Investments is the latest to try and cash in on the BBC's move to Salford Quays by targeting a building nearby writes Simon Binns.
In an oddly structured deal, the firm has taken a punt on Regatta House on the nearby Clippers Quay. Sort of.
Hamill has bought an option on the building, and will then have the chance to buy it from current owners, GGM Properties, for a sum thought to be in the region of £2m.
Before that though, the firm will refurbish and rename the building ''HQ - Hamill at the Quays', turning the 14,220 sq ft scheme into serviced office suites.
Chris Neill, managing director at Hamill, said the building's 'close proximity to MediaCityUK and future potential' were the main factors to take on what is effectively a loan deal. Think of the building as Andy Carroll. If it comes in and does well, it will earn itself a permanent move. If it can't shift space, it will be sent back to the parent club to fight for its place next season Brian.
I'm going to stop now as I've confused myself with this elongated football analogy.
Canning O'Neill advised GGM Properties. Hamill was unrepresented. But based on this deal, maybe Kia Joorabchian and 'Arry Redknapp should have been involved too?
Simon Binns is EG's senior reporter for the North of England based in Manchester simon.binns@estatesgazette.com
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