- A compelling opportunity to acquire one of Manchester’s most established office parks.
- Excellent and unrivalled transport connectivity.
- Part of the Airport City Enterprise Zone, a hugely successful government initiative, substantially increasing the appeal to potential tenants.
- Let to an excellent tenant line up including Vodafone, Mitie, Bowmer & Kirkland, EMCOR, The Civil Aviation Authority, Freedom Finance and Bureau Veritas.
- The total income is £3,732,378 per annum reflecting an average rent of only £17.63 psf and therefore offering outstanding rental growth prospects.
- The average weighted unexpired lease term (WAULT) is 7 years to expiry and 5.5 years to earliest termination.
- Significant asset management potential to improve the letting profile and substantially increase the rental tone.
We are seeking offers in excess of £38,850,000 (Thirty Eight Million, Eight Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect the following yield profile.
Net Initial Yield 9.0%
Reversionary Yield 9.6%
Low Capital Value of only £187 psf