Caractéristiques de l'actif

Surface de l'actif Net

6 314 m²

Occupation

100 %

WAULT jusqu’aux expirations

3.5 années

Stratégie d'investissement

Core Plus

Prime Forecast Rents in 2027

£56 psf

Description

A striking Prime, Grade A office building within the heart of Manchester’s Central Business District.

Located in Manchester which is the UK’s second city and is the largest financial and business centre outside London.

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Points clés d'investissement

The building comprises 67,962 sq ft of high specification office accommodation across 11 upper floors.
100% Electric HVAC system which was upgraded in 2024.
Optimal floor plates of c 6,000 sq ft which subdivide easily - to accommodate 75% of occupational demand in the city.
The building is well let to several professional occupiers including BGF, Cushman & Wakefield, Knight Frank and Newmark.
The property has a WAULT of 3.5 years to expiry and 2.7 years to break.
The building is 100% occupied.
The total passing rent is £2,112,161 pa reflecting a low average rent of £29.84 per sq ft.
ERV of £3,175,227 pa providing exceptional reversionary potential.
Manchester is a tightly constrained major office market with New Grade A vacancy rate of only 1.4%.
Prime Manchester rents are forecast to be £56 per sq ft in 2027 when the next lease events occur.

We are instructed to seek offers in excess of £22,600,000 (Twenty Two Million Six Hundred Thousand Pounds). A purchase at this level reflects a net initial yield of 8.75%, reversionary yield of 13.16% and a capital value of £333 psf after deducting standard purchaser's costs of 6.8%.