*INVESTMENT OPPORTUNITY*
Christie Office Park enjoys a high profile to Princess Road (A5103), the main arterial route into Manchester City Centre from the south and the M56 motorway. The scheme is located adjoining the junction with Barlow Moor Road (A5145) and close to junction 5 of the M60. The property lies on the border between the fashionable South Manchester suburbs of West Didsbury and Chorlton, both of which offer a range of trendy bars and restaurants.
The location is highly accessible. The regional motorway network is on the doorstep and Manchester International Airport is within 10 minutes drive. Manchester City Centre is reached in 10 minutes by car. Withington Metrolink Station is 5-10 minutes' walk along Princess Parkway and offers direct tram services to Manchester Piccadilly and East Didsbury.
The surrounding residential areas offer a wide labour pool and major office occupiers in the locality include Siemens, Great Places Housing Group, Contour Homes, Southway Housing Trust, Optegra, Carrier Travel, IBI Group, together with the Spire Hospital.
The building and offices benefit from the following high quality specification:
Full access raised floors
High quality carpet tiles
Glazed partitioned meeting rooms at ground and first floor levels
Air Conditioning
Double glazing
Suspended ceilings with recessed energy efficient lighting
Fitted kitchens on each floor
Male, female and disabled wc's
Lift access
Good parking allocation - 22 spaces.
There is a reversionary lease from 18th July 2022 expiring 28th September 2028 (4 years 4 months unexpired) with an outstanding rent review from 29th Sept 2023. The passing rent is £82,600pa (£13.28/sqft). Terms are fully repairing and insuring. The tenant has been in occupation since 2012.
The property is let to a well established IT company with an Experian score of 93 which is low risk. Further information available on request.
Offers in excess of £1.1m (£177/sqft) which equates to a net initial yield of 7.11% based on the passing rent and 9.11% on the reversion based on an ERV of £17/sqft (£105,740pa).
( Agency Pilot Software ref: 1471 )
