Asset Management of creative hub office building in well located position next to the main Manchester train terminal Piccadilly.
Address:
- Aeroworks, Adair St, Manchester
Size:
- 35,000 sqft
Project:
- Acquired a multi-let, part vacant warehouse office building in edge or core location
- Achieved vacant possession through negotiation to allow for refurbishment
- Comprehensive refurbishment of the building, all new services throughout to provide Grade A- contemporary fully airconditioned offices to allow for single occupation HQ building
Success:
- Rent Passing at Acquisition: £314,000pa
- Current Rent Passing: £516,000pa
- Single let to On the Beach PLC FTSE 250 business
- 10 year lease term certain FRI lease with open market review in year 5
- Original features and character retained within refurbishment
