Reversionary Government Let City Centre Office Investment

Occupying a strategic location at the heart of Manchester City Centre, neighbouring the key business districts of Spinningfields and New Bailey. Fully let on a 15-year FRI lease to the undoubted covenant of the Secretary of State (SoS), expiring 13th August 2028 (5.3 years unexpired). The government have occupied the building since it’s construction and continue to be in full occupation (3,000 contracted to work on site), they have invested in their workspace demonstrating their commitment to the building. Built in 1998, the building comprises 205,718 sq ft (IPMS 3 - Office) across ground and 7 upper floors with excellent natural light. Excellent city centre car parking ratio of 1:1,118 sq ft. Very low, reversionary rent of £3,206,000 per annum (topped up), reflecting £14.38 per sq ft*, subject to 5-yearly open market rent reviews, with the next due in August 2023. Between 2020-2022: the entire building has been redecorated, including new LED lighting, carpets, furniture , upgrading kitchenettes, creation of new meeting rooms and refurbished WCs/ showers.