Office
Under Contract

Atlas Business Park, Manchester Airport

Atlas House Atlas Business Park, Manchester, Greater Manchester, M22 5PR, UK

Atlas Business Park, Manchester Airport_Property for Sale

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Atlas Business Park, Manchester Airport 2_Property for Sale

Asset description

Atlas Business Park provides 208,309 sq ft of high-quality office accommodation arranged in 4 buildings across 15 acres within the Airport City Enterprise Zone.

Attributes

Asking Price
$47,764,000
Building area Net
208,309 sf
Year built
2000
Property Reference Number
77064147

Investment highlights

  • 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

Atlas Business Park, Manchester Airport 4_Property for Sale
Atlas Business Park, Manchester Airport 4_Property for Sale

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Last updated
Nov 30, 2022