Manchester's CIS Tower up for sale 'for £50m'

Tue, 24 Jan 2017 | COMMERCIAL PROPERTY

The iconic CIS Tower in Manchester, the former home of the Co-operative group and once the tallest building in the country, is up for sale with a reported asking price of £50 million.

The Manchester Evening News reports that the solar-clad building has “secretly been on the market for months” with a select handful of suitors invited to express interest.

Completed in 1962 at 387ft (118m) and 28 storeys, it was the largest building in the UK at one time, before being overtaken by Millbank Tower in London.

While no buyer has yet been chosen it is understood that several bids have been made for the Grade-II listed building, with property firms JLL and Colliers International handling the sale.

A spokesperson for NOMA said: “As part of the on-going strategy to regenerate a key area of Manchester city centre, the joint venture between the Co-op and Hermes Investment Management, responsible for the NOMA redevelopment, is looking to sell the CIS Tower.

“This decision will not affect the rights of the Co-op and The Co-operative Bank as the tenants in the building as it will simply result in a change of landlord.

“The Tower will remain a crucial part of the wider NOMA estate, while the team focuses on the wider development of the area.”

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