22 St. John Street, Manchester, Greater Manchester, M3
£388.63 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
9,006 sq ft
837 sq m
- SECTOR
Serviced office for sale
Key features
- BOUTIQUE BUSINESS CENTRE INVESTMENT OPPORTUNITY
- Grade II Listed Georgian Office Building
- Recently fully refurbished modern office accommodation
- Small Suites providing 113 desks in total
- Extensive on-site amenity
- Secure gated courtyard parking
- 64% let with opportunity to enhance return
- A purchase at this level reflects a Triple Net Yield of 6.0% and a Triple Net Reversionary Yield of 12.1%, assuming standard purchasers costs
Description
Recently refurbished business centre investment opportunity
- Recently refurbished business centre investment opportunity
- Located at one of Manchester's most desirable addresses, St John Street, close to Spinningfields, The St John's Quarter, Manchester Central and all the leisure amenities of Deansgate, Peter Street and Great Northern Warehouse
- Attractive listed Georgian office building retaining many original features with modern office accommodation and secure courtyard car parking to the rear
- The accommodation has recently been fully refurbished to provide a modern working environment of small suites with extensive onsite amenity and new air conditioning system
- The building extends to an area of 9,006 sq ft with 10 gated car parking spaces and provides a net lettable area of 4,896 sq ft / 113 desks in its current layout as a business centre
- The individual office units are let on an all-inclusive basis, per desk, with cars charged separately
- The centre is currently 64% let with 3 vacant suites (41 desks) and 2 available car parking spaces, offering opportunity to further enhance return
- Total Gross rent - £412,598*
Centre outgoings - £188,874**
Net Passing Rent - £223,724*
Net Reversionary Rent - £451,124*
*Inclusive of car parking.
**Based on info provided and estimated rates assessment.
PROPOSAL
Seeking offers in the region of £3,500,000 (three million five hundred thousand pounds) which reflects the following:
Triple Net Yield - 6.0%
Triple Net Reversionary (fully let) Yield - 12.10%
Capital Value - £389 psf***
***Based on gross area.
Brochures
22 St. John Street, Manchester, Greater Manchester, M3
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Manchester Deansgate-Castlefield Tram Stop0.1 miles
- Deansgate Station0.3 miles
- St Peters Square Tram Stop0.3 miles
Notes
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