Posted by nick on Aug 3, 2011 in Commercial Property Small Business Manchester City Centre Property Management
It would appear that our continued confidence in the Manchester office market has been justified .It was announced today that Scottish Widows Properties has purchased 101 Barbirolli Square for £29.975m at an initial yield of 6.76%.
This of course follows on from the sale of the Zenith building in Spring Gardens to Henderson Global Investors for around £24m. This building is 40% vacant and I understand that the new landlord believes that this is the best office location in the City and whilst they have reduced their asking rents slightly they will be offering minimal incentives they will require institutional length leases.
We of course own and manage 19 Spring Gardens opposite and are offering Grade A office space at lesser rents and on very flexible terms. If you would like details of the office space or view them please contact/consult Vicki Cook on 0161 236 6869