1 Portland St | Manchester M1 3BE
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1 Portland St
Manchester M1 3BE
Office Property For Sale
Investment Highlights
- Highly prominent, adjacent to Piccadilly Gardens public transport interchange (bus and tram) and a 2 minute walk from Piccadilly mainline station
- The property is ideally positioned at the entrance to the vibrant Northern Quarter district
- Flagship City Centre Office Building
Executive Summary
One Portland Street comprises 59,181 sq ft of Grade A office accommodation arranged over basement, ground and six upper floors.
Originally developed in 1974, the property underwent a comprehensive refurbishment (including M&E replacement) in 2005 and has more recently benefitted from a rolling refurbishment programme. Recent works undertaken by the vendor include a full refurbishment of the 1st floor (including new VRF system) along with significant ground floor enhancements including an extended entrance and a stunning double height reception area.
The property has also benefitted from basement upgrades which have significantly enhanced the building’s amenity and end of journey facilities
Originally developed in 1974, the property underwent a comprehensive refurbishment (including M&E replacement) in 2005 and has more recently benefitted from a rolling refurbishment programme. Recent works undertaken by the vendor include a full refurbishment of the 1st floor (including new VRF system) along with significant ground floor enhancements including an extended entrance and a stunning double height reception area.
The property has also benefitted from basement upgrades which have significantly enhanced the building’s amenity and end of journey facilities
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
59,181 SF
Building Class
B
Year Built/Renovated
1974/2016
Price
$11,622,928
Price Per SF
$196
Cap Rate
11.80%
NOI
$1,371,506
Percent Leased
63%
Tenancy
Multiple
Building Height
7 Stories
Typical Floor Size
8,454 SF
Building FAR
3.58
Lot Size
0.38 AC
Parking
15 Spaces (0.25 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Raised Floor
- Security System
- Accent Lighting
- Bicycle Storage
- Shower Facilities
- Air Conditioning
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