North West serviced office business Anvic Developments Limited has sold three of its offices to Seneca Property in a multi-million-pound deal.
Anvic has sold its City View House serviced office space in Manchester along with its Lodge House and Northbridge House properties in Burnley for an undisclosed sum. 11 staff from Anvic Developments have transferred over to Seneca Property.
Anvic will continue to manage the three properties on behalf of Seneca. The sales are part of Anvic’s plans to continue focusing on serviced office management, though it retains ownership of its flagship Piccadilly House property in Manchester.
The commercial property team at Harrison Drury advised Anvic Developments on the sale of the properties. Harrison Drury’s team was led by Mike Fetherstone with support from Simon England and Hannah Hughes. Employment lawyer Sarah Astley also assisted.
Paul Dawson, director of Anvic Developments, said: “We’re looking to significantly expand the property management arm of Anvic and we’re on the lookout for other serviced and conventional office spaces across the region that we can add to our management portfolio.
“Seneca Property match our vision for providing high-quality and stylish serviced office space, so we’re delighted to have agreed this deal with them. We will continue to manage the three properties, maintaining the highest levels of quality and service for which they’ve become known.”
Jeff Morton, MD of Seneca Property said, “We are delighted to have made this acquisition which complements our existing six Biz Hub centres. We are now an owner/manager of nine operational business centres from the midlands to the north comprising some 350,000 sq ft and 400 customers.
“Working with the Anvic team led by Paul Dawson has been both a very straightforward and rewarding experience and we hope to continue this collaboration in the future.
“We remain committed to growing our Biz Hub brand and have significant investment firepower to achieve this objective, and are actively seeking further opportunities.”
Mike Fetherstone, of Harrison Drury’s property and construction team, said: “Anvic has gained an enviable reputation for the quality of its office spaces. It’s been a pleasure to assist Paul in making this deal possible and, in doing so, helping him realise significant value from a business he’s built up over 30 years.
“Paul and his team can now focus their energy on becoming one of the leading management companies in the serviced office sector in the North West.”
Anvic Developments was formed in 1985 and provides office space, conference and meeting room facilities, and virtual assistant services aimed at smaller businesses.