Norfolk House_Actifs en vente
Norfolk House_Actifs en vente
Norfolk Street, Manchester, Greater Manchester, M2 1DH, UK

Norfolk House

Description de l'actif

Outstanding opportunity to reposition or redevelopment the asset for office or alternative uses.

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Points clés d'investissement



• Manchester is considered the UK’s Second City and the economic and cultural capital of the North of England.

• Norfolk House 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 paces.

• 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.

• Freehold.


Offers are invited in excess of £8,500,000 (Eight Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.


A purchase at this level reflects attractive low capital value of £157 psf, substantially below replacement cost.

Caractéristiques de l'actif

Surface de l'actif Net
5 029 m²
Occupation
27 %
Taille du terrain Brut
0,13 hectare
Stratégie d'investissement
Value Add
Prix attendu
10 087 000 €

Contacter l'équipe

Norfolk House (0 actifs)
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Dernière mise à jour
16 mai 2024