Ardstone Capital announced the sale of Trinity Court, 16 John Dalton Street, Manchester to Helical (Chart) Limited in an off-market transaction on behalf of the Ardstone Regional Office Fund.
Launched in mid-2013, the fund is managed by Ardstone Capital exclusively for clients of CBRE Global Investment Partners.
The property, comprising of 48,413 sq ft of office and retail accommodation, was acquired in February 2014. The offices are single let to Squire Patton Boggs. The sale crystallised a 13.6% IRR for the fund and an ROE of 42%.