Manchester startup Watch This Space rounds off 2016 with £1m acquisition

Property development and regeneration company Watch This Space has rounded off 2016 with a seven-figure deal to acquire 62 Bridge Street in central Manchester.

The £1m off-market transaction will see the Manchester-based startup work to transform the 4,784 sq ft office building into a “dynamic working environment”, according to founder Michelle Rothwell.

She commented: “This building has been unloved for some time and needs new life injecting into it.

“We want to turn workspace on its head and create new ways of working.”

Located in the city’s bustling Spinningfields area, 62 Bridge Street has an additional plot of land to the rear and is currently 70% vacant.

Watch This Space, which was founded earlier this year, is currently in the process of turning the former Duke William hotel in Staveley, Cumbria, into Billy’s Space – a working environment geared towards creative enterprises.

September saw the company completed its refurb of 31-33 Princess Street in Manchester after fully letting the property prior to completion. In July, it launched a property co-work space that is now 95% let.

Speaking further, Michelle said: “2016 has been an unbelievable year for Watch This Space.

“I believe we’ve quickly established ourselves in the property market as a developer with a ‘can-do’ attitude and our deals are testament to that.”

She added: “We have big plans for 2017 as we make further acquisitions and deliver new and exciting places for people to work… watch this space.”

The property was acquired from law firm Millbank Edge LLP, which was advised on the deal by commercial property advisors Matthews & Goodman.

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