The Jackson’s Wharf building located at the heart of Castlefield is to be acquired by Chester-based pub operator Brunning and Price Limited.

The Manchester office of Cobbetts advised Brunning and Price on the deal. Peel Holdings, which previously owned the property, was advised by its in-house legal team.

Brunning and Price plans to renovate the site, investing a significant sum of money in developing the property.

The project forms part of a wider expansion strategy for the award-winning company, all of whose 24 pubs are listed in the Good Pub Guide. Brunning and Price are looking to open further pubs at a number of new sites in the coming months.

David Frankland, real estate partner at Cobbetts, commented: “The Jackson’s Wharf site presented a unique opportunity for Brunning and Price; it is a well known building, located in a tremendously popular area of the city.”

Building work is expected to start soon, and the Wharf is expected to open by early summer.

Graham Price, managing director of Brunning and Price, commented: “The Jackson’s Wharf building presents significant challenges, but we have tackled a number of similar projects in the past, including warehouses on the canalside in Chester and on the riverside in Shrewsbury. We’re going to rename the pub the Wharf to hopefully bring it into 2012.”

Brunning and Price have won a number of awards for converting neglected buildings into vibrant pub restaurants, including CAMRA/English Heritage’s Best UK Pub Refurbishment in 2009 for Sutton Hall in Macclesfield.