Wed, 28 Nov 2012 | COMMERCIAL PROPERTY
A unique commercial property is for sale in Manchester: The former stock exchange on Norfolk Street.
The property is on the market with a guide price of £1.5 million, for which the buyer will gain control of 22,852 sq ft of space. This breaks down at £65 per sq ft of space.
At the moment, the restaurant Stock is housed in the Grade II listed building. There are a total of five floors through the building and basement parking for 11 vehicles. However, the selling agents have said that the site is suitable for refurbishment for a change of function and could easily house a hotel or be converted to residential or office space.
Associate director of national capital markets at property consultants CBRE, Will Kennon, commented: “The Stock Exchange offers major advantages for any potential investor, with a prime location, existing ground floor restaurant and bar facility and stunning architectural features.”
He added: "There are currently strong levels of demand for boutique hotel accommodation within the traditional prime core of Manchester and we believe this asset provides an ideal conversion opportunity.”
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