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Manchester property firm buys premises for £750k

02/07/2009


A Manchester property company has been successful in its bid to secure commercial premises in the city centre.

In the climax to a "competitive bidding process", Adam Geoffrey Management (AGM) acquired the Barca Bar, BigHospitality.co.uk reports.

The bar, which was once part-owned by singer song-writer Mick Hucknall, went for around £750,000 from Cougar Leisure.

It is situated next to the Bridgewater Canal and currently has facilities for a 610-cover bar and a 300-cover restaurant.

Simon Chaplin, director at Christie + Co and the man who negotiated the deal, said that well-located commercial properties in Manchester are continuing to attract buyers.

He added: "We are now witnessing a number of cases where the expectations of the seller are being matched by the aspirations of the buyer, or as demonstrated in this instance a number of interested bidders."

AGM, which is headquartered on Lloyds Street, plans to refurbish the site under the Barca name.

It is to offer food and drink "aimed at Manchester people".
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