Historic CIS Tower sold in high-profile transaction

According to available information, the transaction concerns the acquisition of the company that owns the property, which extends over approximately 65,000 sq m and is located in the NOMA area in the city centre.

The building was previously owned by Devonshire (CIS Tower) Limited, based in Jersey, which acquired it for £66 million in 2017.

The 1960s-era building, which formerly served as the headquarters of the Co-operative Society, has been vacant for several years, during which multiple proposals have been submitted for its redevelopment into a modern office complex.

MCR Property Group, which is highly active in the UK real estate market, is adding the property to its portfolio in central Manchester, alongside other redevelopment and regeneration projects in the same area. According to relevant statements by the company, its strategy focuses on the utilisation of underused historic buildings through active asset management and repositioning in the market.

The company’s founder, Aneel Mussarat, described the CIS Tower as a “legacy asset,” emphasising that it represents a rare investment opportunity with significant untapped potential, while also referring to plans for its repositioning with an emphasis on sustainability and modernisation.

The CIS Tower, standing at 118 metres with 25 floors, was the tallest building in the United Kingdom during the period 1962–1963 and remains one of the most significant examples of post-war modernist architecture in Britain.