WHR BRINGS LANDMARK MANCHESTER BUILDING TO THE MARKET
1st July, 2014
Ship Canal House Being Marketed for £25.5 Million
On behalf of Himor Group, WHR Property Consultants has been instructed to market Ship Canal House – a 72,544 sq ft landmark building on King Street in Manchester city centre. This is only the fifth time in its 100 year history that the Grade II listed building has been bought to the market. WHR is seeking offers in excess of £25.5m, which represents a net initial yield of 6.08%.
The building, which has been comprehensively refurbished over the years to the highest standard, is home to a number of high profile occupiers including Virgin Money Management, Liverpool Victoria, BNP Paribas and Gateley LLP.
Mark Williams of WHR says: “After much deliberation, HIMOR has decided to offer Ship Canal House to the market. Over the last few years HIMOR has concentrated on asset management and planning promotion opportunities. They recently completed major refurbishments at Clarence House in Manchester and The Village in Bramhall and are currently promoting over 450 acres of land through the planning system. Consequently, their holding at Ship Canal House no longer forms part of their future core business. This is an exceptional opportunity for an investor wishing to place money in the Manchester office market.”