£8.300.000
Confirmation
Grade I listed mixed-use commercial building
Manchester, United Kingdom
Mixed use
#34621
Core+
27 Oct 2024
Property Details
Broker
Sold
28,070 sq.ft.
2,608 m²NIA
295.69 £/sq.ft.
3,182 £/m²7.63 %
Freehold
Fees
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).
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