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Grade I listed mixed-use commercial building

Manchester, United Kingdom

76%

£8.300.000

Mixed use

#34621

Core+

27 Oct 2024

Property Details

Broker

Sold

28,070 sq.ft.

2,608 m²

NIA

295.69 £/sq.ft.

3,182 £/m²

7.63 %

Freehold

X

Fees

0.00 %

0.50 %

0.00 %

0.50 %

Investment Overview

Grade I listed, mixed-use commercial building overlooking Albert Square in Manchester City Centre. Unique opportunity to acquire a prestigious office building in Manchester City Centre. 28,070 sq ft of net internal area. Only traded once in the last 40 years. Refurbished office with strong environmental credentials. Gross rent: £687,433 per annum (average rent of £24.49 psf). Total net rent: £676,744 per annum. Strong rental growth opportunity. Fully let with a WAULT of 7.5 years (7.3 years to breaks). 38% of income guaranteed by a £701 million covenant (Iceland).