The office block is let in its entirety to Cobbetts Solicitors, a UK law firm, on a full repairing and insuring lease until December 2026 with no break options. Sainsburys is leasing a retail unit on the ground floor.

The property was bought for approximately �65m (Euro95.8m). The current passing rent is �2.96m per annum, which reflects approximately �25 per sq ft on the office accommodation, with a rent review due in December 2011.

Cobbetts House is located in the heart of Manchester's central business district (CBD) and extends to 10,575sq m (113,831sq ft) of office accommodation over eight storeys with 39 parking spaces.

The building was forward funded by Anglo Irish Private Bank and Alanis Limited and completed in December 2006. CB Richard Ellis advised the buyers. Jones Lang LaSalle acted for the seller.

Commenting on the purchase, Andrew Gunne of CBRE's international investment department said: "We believe this investment will deliver strong returns over the long term, particularly in light of the view that it is already reversionary."