Investment Summary

Hanover House, Charlotte Street, Manchester

 

  • A modern Manchester city centre office building
  • Manchester is the UK’s 2nd city and is the economic and cultural capital of the North West region
  • Developed in the mid 1980’s the property comprises 14,050 sq ft (1,305 sq m) arranged over ground and 6 upper floors, with 9 ancillary basement car parking spaces
  • The property produces a total income of £185,329 per annum reflecting an average rent of only £12.22 psf
  • Average unexpired lease term of 2.9 years to expiry and 2.2 years to breaks
  • Freehold
  • Capital value of £178 psf
  • Offers are sought in excess of £2,500,000 (Two million, five hundred thousand pounds) subject to contract and exclusive of VAT. A purchase at this level will reflect a 7% net initial yield assuming standard purchase costs of 5.8%. 
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