Manchester’s One Portland Street comes to market at £20 million

19 October 2017

Legal & General Investment Management Real Assets, represented by international real estate advisor Savills, has brought to market One Portland Street in Manchester for a guide price in excess of £20 million, reflecting a net initial yield of 6%.

The building offers 59,201 sq ft (5,500 sq m) of high quality office and retail accommodation arranged over basement, ground and six upper floors.  It is let to occupiers including Building Blocks, Gear4music, Tesco and Costa Coffee with a total net income of £1.32 million per annum. 

One Portland Street is prominently situated adjacent to Manchester’s Northern Quarter, with excellent public transport links via rail, tram and bus.  Nearby occupiers include Bank of New York Mellon, Barclays, Transport for Greater Manchester and  Boohoo.

Oliver Foster, investment director at Savills, comments: “One Portland Street is strategically situated in the heart of the city centre, adjacent to the vibrant Northern Quarter and within walking distance of Manchester Piccadilly rail station. The property offers well configured and flexible floor plates with high quality office accommodation at a discount to prime Grade A rents.  With excellent reversionary prospects and a real growth story on the location, we anticipate high levels of market interest.”

 
 

General Enquiries

Savills Margaret Street

 

Key Contacts

Oliver Foster

Oliver Foster

Director
Investment

Savills Manchester

+44 (0) 161 277 7212

 

Freddie Guest

Freddie Guest

Surveyor
Out of Town Retail

Savills Manchester

+44 (0) 161 244 7724