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PERIOD OFFICE INVESTMENT OPPORTUNITY
Lloyd Street, Manchester M2 5ND
Manchester City Centre
The property totals 23,783 sq ft (excluding sub-basement) and consists of primarily character office space with two separately accessible leisure units at ground floor and basement.
The property is fully let to 7 tenants and has a current passing rent of £404,016 per annum, reflecting a very low rent of £14.73 psf. The average weighted unexpired lease term is is 4.64 years.
Although not listed, the property benefits from a number of majestic period features, in addition to excellent natural light with windows on the north and south elevations offering superb outlooks across the city. The building also offers flexibility via a dual frontage and access onto (i) Lloyd Street and (ii) Jackson Row
Character floorplates of 2,874 sq ft – 3,212 sq ft providing for Manchester’s most active occupational demand of sub 5,000 sq ft and appealing to the cities deep pool of SME’s and numerous tech start-up’s
Whilst enjoying a very strong letting history, the property also benefits from significant reversionary potential with the average rent on the office space currently passing off an extremely low base of only £18.77 psf. This is in contrast to prime Manchester rents of £38.50 psf. With basic modernisation the property has the potential to drive rents forward to £27.50 psf + and beyond
Freehold