Norfolk House
Norfolk Street, Manchester, Greater Manchester, M2 1DH, UK
HK$83,049,000 | 54,127 sf
Asset Description
- Freehold office building with strong underlying development potential
- The property benefits from excellent connectivity, strategically positioned on Wedgnock Industrial Estate, within the affluent town of Warwick and positioned adjacent to the A46 providing direct access to Junction 15 of the M40
- Located on Broxell Close, with nearby occupiers including Volvo, Royal Mail, Telent Technology and a Shell Recharge Charging Station. There is a Premier Inn directly behind the property which incorporates a Costa Coffee facility and a LA Fitness gym a short distance away
- 29,763 sq ft office which has been the UK Headquarters for Durr Ltd since 2001, with excellent car parking of 110 spaces equating to a ratio of 1:271 sq ft
- The buildings are capable of subdivision and floor by floor lettings
- Let to the excellent covenant of Durr Ltd with Durr AG as guarantor) on a lease expiring 5 March 2027, at a rent of £421,000 pa (£14.15 per sq ft)
- Provides a high income return and over 2 years to plan refurbishment/reletting/redevelopment on expiry
- Site extends to approximately 0.62 hectares (1.52 acres) and sits within an immediately predominant industrial area, providing redevelopment prospects to industrial use (subject to planning consent)
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Attributes
Building area gross
29,763 sf
Media
Investment Highlights
We are instructed to seek offers in excess of £2,825,000 reflecting an attractive net initial yield of 14.00% and a very low cost per sq ft of £95, assuming standard purchaser’s costs.
Contact brokers
Durr Headquarters, Broxell Close, Warwick (0 Properties)
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Last updated
24 Oct 2024
