Office

Norfolk House, Norfolk Street, Manchester 

 

Price: £16,800,000 - Initial Yield:6.70%

Date: Q1 2015

Acting on behalf of DAWM we advised on the purchase of this office investment from M&G Real Estate for £16.8 million, reflecting a net initial yield of 6.7%.

The property comprises circa 54,000 sq ft of modern Grade A office accommodation and is let to Zurich, GVA Grimley, Secretary of State for Health and Euler Hermes Europe. Approximately 30% of the total floor area is vacant though the vendor provided a 2 year rent, rates and service charge guarantee. Excluding the vacant accommodation the property has an average weighted unexpired lease term to break of circa 4.8 years and to lease expiry of 9.4 years.

Contact

Matthew Brown

Tel: 020 7493 3330
Mob: 07836 724 420
mbrown@lewisellis.co.uk

James Caddick

Tel: 020 7493 3330
Mob: 07771 882 860
jcaddick@lewisellis.co.uk


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