Norfolk House
Norfolk Street, Manchester, Greater Manchester, M2 1DH, UK
£8,500,000 | 54,127 sf
Asset Description
The property comprises a prime ESG focused headquarter office in a highly attractive landscaped environment. This modern high quality asset has a concrete frame construction with glazed curtain wall elevations. The building is arranged as a main block with a wing at each end forming a horseshoe shaped footprint. The building has been designed to be future-proofed and incorporates the ability to create an extra wing if required in the future. Completed in 2014, the building offers the following high quality specification:
- An EPC rating of B (31)
- BREEAM “Very Good” score
- Full triple height glazed reception
- Significant break out kitchen and catering areas
- Rooftop solar PV panels
- Chilled beam heating and cooling system
- Full access raised floor
- Metal grille suspended ceiling
- LED motion sensor lighting
- Four passenger lifts
- One goods lift
- Gatehouse
- Woodland walk in an extensive external landscaped area
There are 651 car spaces providing a generous parking ratio of 1:176 sq ft.
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Attributes
Building area net
114,868 sf
Occupancy
100%
Year built
2014
Number of units
1
WAULT
15 years
Media
Investment Highlights
- A prime single-let headquarters office investment situated on Knowsley Business Park
- Let to Matalan Retail Limited with approximately 15 years unexpired
- Strategic location with excellent access to the M57, M62, M58 and A580
- High specification office building comprising approximately 114,868 sq ft (10,671.49 sq m) with potential to expand further
- 651 car spaces providing a generous parking ratio of 1:176 sq ft
- Site area of approximately 5.6 hectares (14 acres) with potential to acquire an additional adjoining site
- EPC B31 and BREEAM “Very Good
- The vendor will top the rent up to the minimum fixed uplift of £2,798,482
- 5 yearly RPI linked rent reviews (1-4% per annum compounded)
- The next rent review is on the 2nd January 2027 and the rent could potentially could increase to £2,967,198 per annum
- Held long leasehold for a term of 999 years from 1946 at a peppercorn rent
We are seeking offers in excess of £21 million subject to contract and exclusive of VAT
This would reflect the following yield profile;
Contact brokers
Matalan Headquarters, Knowsley Business Park, L33 7SZ (0 Properties)
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Last updated
5 Feb 2025
