Office investment with repositioning or redevelopment potential

Multi-let office investment opportunity offering significant repositioning or redevelopment potential both in its current use, or for an alternative use. Property comprises a 54,127 sq ft office building, arranged over ground and 4 upper floors, with a two-storey basement car park accommodating 48 parking spaces. Occupying a prominent position in the heart of Manchester’s Central Business District, totalling 0.31 acres. The existing building forms a key strategic site, occupied at a low density, providing the opportunity to substantially increase the massing in the future. Multi-let to 3 tenants, generating a total income of £365,235 per annum (reflecting a low average rent of £20.51 psf). No guarantees are to be provided on the vacant space, allowing the possibility to immediately improve the running yield. There are numerous opportunities to add value and drive both the income and the capital value via. Repositioning of existing – Undertake a phased refurbishment to reposition the existing office space to meet current occupier expectations. Redevelopment – The prime location combined with robust cross-sector demand, would support an office, residential or hotel redevelopment.