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Pin Property has agreed a deal to buy BASF’s headquarters in Cheadle as the chemicals giant prepares to relocate to Muse’s 2 Stockport Exchange, React News can reveal.
The company is understood to be paying around £6m for the building, which is currently BASF’s UK headquarters and is located at Stanley Green Business Park just off the A555 Manchester Airport link road.
The move comes as BASF prepares to relocate its staff to Stockport Exchange, where it has agreed a pre-let of around 23,000 sq ft for the second office at the development, which is being delivered next to the town’s railway station by Stockport Council and Muse.
Around 200 staff are due to move to the building once it completes early next year.
BASF’s HQ had previously been reported to be under offer to games company Cloud Imperium, but this deal never progressed.
Pin’s approach to BASF’s HQ is understood to be similar to its successful refurbishment and re-letting of One Dovecote in Sale, a similarly-located business park asset. The company bought the 61,000 sq ft office in 2015 and secured a deal with communications provider Verastar to take the whole building earlier this year.
Pin Property was contacted for comment.
