Image by: Stephen Richards, Geograph
The headquarters of
Co-op Insurance in Manchester has been sold for more than £65 million, it has been announced.
The Co-op Group’s joint venture with Hermes Investment Management, NOMA, has exchanged contracts with Castlebrooke Investments for the sale of the Co-operative Insurance Society (CIS) Tower.
“The sale of The CIS Tower is part of our ongoing strategy to regenerate this important community in Manchester city centre,” a NOMA spokesperson said in a news release.
The 28-storey iconic building is home to Co-op Insurance and The Co-operative Bank which remain tenants of the skyscraper.
“We are fully committed to working with NOMA as our neighbours, and occupiers the Co-op, to ensure The CIS Tower fulfils its potential, as well as building Manchester’s presence on the world property stage,” a Castlebrooke spokesperson said.
According to the Manchester Evening News, the former headquarters of the Co-op Group has been described as "the best of the Manchester’s 1960s tower blocks”.
The report said CIS Tower was the tallest building in the country when it was completed in 1962 before being overtaken by the Millbank Tower in London.
Known for being covered in distinctive solar cells, the CIS Tower is considered one of the most energy efficient buildings in the UK.
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