Prime Freehold city centre office and leisure investment with significant value add potential.
Prominently located in the heart of Manchester City Centre within immediate proximity to Spinningfields, Selfridges, Harvey Nichols and the Corn Exchange.
86 Deansgate extends to 48,967 sq ft and comprises five upper floors of Grade A office accommodation, together with two prime ground floor retail units and 19 secure basement car parking spaces.
Multi-let to a range of professional office occupiers, including Slater Heelis, Reed Recruitment and Resource Solutions, with leisure occupiers Las Iguanas and Yours Restaurant & Bar providing vibrant ground floor occupancy.
Excellent diversification of income from 12 occupiers, with 37% of the income derived from the leisure and 63% of the income derived from the offices.
WAULT of 3.9 years to earliest termination.
Opportunities to drive income return and enhance capital value via:
Lease re-gears and extensions with existing occupiers.
Cosmetic refurbishment of common areas and vacant space to improve the occupancy and drive the rental tone throughout the building.
Implementation of historic planning permission to add two storey 'glass box' extension to create additional c.14,000 sq ft premium Grade A space.
