Threesmith Group Expands Portfolio with Prime Manchester Office Purchase Supported by Crans
Threesmith Group has completed its purchase of the landmark Northern Assurance Buildings in Manchester city centre, securing the 28,000 sq ft office asset for just over the £8.3m asking price. The property, positioned footsteps from Albert Square, was launched to market in June and moved from offer to completion in around 30 days, highlighting continued demand for prime Manchester office investments.
The acquisition further strengthens Threesmith Group’s growing commercial property portfolio. Led by directors Luke and James Smith, the group also operates A-Safe, the internationally recognised safety-barrier manufacturer. Latest accounts for Threesmith Group Holdings for the year ending December 2022 show a significant rise in turnover, increasing from £3m to £30m year-on-year.
Crans Property Consultants, acting alongside Schofield Sweeney, advised the purchaser throughout the transaction. Vendor Kinrise was represented by Carrick Real Estate, OBI Property, and Withers Worldwide.
David Cran, director at Crans Property Consultants, commented:
“This was a fabulous opportunity for my clients to acquire a prime asset with secure income and longer-term asset management opportunities.
This building has rarely traded having been recently refurbished with long established occupiers and is perfectly positioned in preparation for the reopening of Albert Square later in the year”.
Northern Assurance Buildings is regarded as one of the city’s most recognisable period office properties and is home to a range of established tenants including FEC, Metis Real Estate, Hydrock, and Piccolino on the ground floor – a well-known meeting spot within the Manchester property community.
The asset currently produces £676,744 per annum in net rental income, reflecting an average rent of £24.50 per sq ft, offering investors both secure income and future asset management potential.
Crans Property Consultants – Specialists in Commercial Property Acquisition
This latest transaction highlights Crans’ expertise in commercial property investment, office acquisitions, and buyer representation across Manchester and the North West. The firm continues to support institutional and private clients seeking high-quality commercial assets in prime city-centre locations.
