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Inspired purchases former office building in Greater Manchester

Inspired Asset Management has purchased former office building, Sim Chem House, in Cheadle Hulme, Greater Manchester for €5.9m (£5m). The six-storey 1960s building sits on a 1.27-acre site and consent has been obtained for a 184-unit residential scheme comprising high specification studio, one and two-bedroom apartments. Located on Warren Road in the sought-after Greater Manchester suburb of Cheadle Hulme, the scheme is Inspired’s first in the north and has an estimated GDV in excess of €29.3m (£25m). The deal was introduced and backed by Sanjay Shah, owner of local property company Mirasa Limited, together with his co-investors. The 7,614 sq m (81,956 sq ft) building was last occupied in early 2011 by engineering consultancy Simon...[…]