Thu, 01 Dec 2016 | COMMERCIAL PROPERTY
The Equitable Building in Manchester is up for sale for £12.5 million.
The site, on the city’s St Ann’s Square, comprises 28,516 square foot and is the former home of furniture retailer Habitat. It was bought by investment house Draco and Davy back in 2003.
According to the Business Desk, real estate firm Cushman & Wakefield have been appointed sole agents on the building. If sold, the price would equate to a net initial yield of about 5.42 per cent.
The Equitable Building has around 9,000 square foot of retail space on the ground floor which is currently let to telecoms firm Three and jewellery businesses Ernest Jones and David M Robinson.
Its top three floors, totalling nearly 20,000 square foot, have previously been used as retail accommodation but there is potential to adapt the space for residential, office or hotel use.
Matt Stretton, partner at Cushman & Wakefield, was quoted as saying: “This is a unique investment opportunity to acquire a landmark building prominently situated in the heart of Manchester city centre’s retail and business district."
Manchester’s commercial property scene is very active at the moment. Earlier this week it was announced that the city’s five-star Lowry Hotel had been put on the market.
The luxury hotel, known for its celebrity guests including Beyonce and Lady Gaga, has 158 rooms and seven suites and recently had a £4 million refurbishment.
CBRE has been instructed as sole agent to find a buyer for the hotel.
Find commercial property for sale.
A concept which led to revolutionizing the restaurant industry, offering an efficient and profitable approach to food production and targeted marketing.
Their versatile offerings include custom rafted joinery products such as elegant doorsets, stylish TV and media units, functional desks, ingenious shelving and storage solutions, luxurious bed surrounds, stunning timber staircases, sophisticated engi...
As a specialist in Italian Motorcycle Parts and Accessories supplies, the business has developed expertise in sourcing and offering a comprehensive range of high-quality products.
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
30
|
Mar
|
Sage’s former Newcastle HQ up for sale | COMMERCIAL PROPERTY
The former Newcastle headquarters of international software ...
09
|
Jan
|
London commercial property investment 'highest since 2007' | COMMERCIAL PROPERTY
The commercial property market in London enjoyed a strong ye...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.