FOR SALE PRIME DEVELOPMENT OPPORTUNITY NOR THE RN QUARTER

Transcription

1 FOR SALE PRIME DEVELOPMENT OPPORTUNITY NOR THE RN QUARTER

2 LOCATION Manchester is the acknowledged capital of the North of England and is the largest English financial and business centre outside London. Manchester is the commercial centre of the wider Greater Manchester region with a population of approximately 2.6 million whilst in excess of 11 million people live within a 50 mile radius of the city centre. The city has the largest travel to work area of any conurbation outside of London contributing to its position as the fastest growing regional city in the UK. John Dalton St Cross St Marsden St King St Booth St Corporation St Brown St Arndale Centre Market St Spring Gardens York St Withy Grove Fountain St Shudehill High St Market Street Parker St Shudehill Church St Thomas St Oldham St Hilton St Dale St Piccadilly Gardens Swan St Lever St Piccadilly Newton St Dale St Oldham Rd Great Ancoats St PRIME DEVELOPMENT OPPORTUNITY Laystall St Central Retail Park Ducie St Quay St St Peters Square Mosley St Princess St George St Faulkner St Charlotte St York St Portland St Sackville St Minshull St Chorlton St Aytoun St London Rd Station Approach Ducie St Boad St Store St Sheffield St Travis St Oxford St Piccadilly Station

3 SITUATION The site is located in Manchester City Centres Northern Quarter. The area is now firmly established as Manchester s creative quarter and is one of the city s most popular places to reside, work and socialise. During the day the area has a diverse mix of shops, cafes and restaurants and is also the home to fashion designers, creative agencies and clothing wholesalers who are housed in accommodation ranging from small wholesale units to the modern Grade A offices in The Hive. By night the Northern Quarter has an exceptional reputation as one of the most popular nightlife destinations in Manchester, with a plethora of independent restaurants, bars, pubs and nightclubs such as the longstanding Dry, Odd and Bluu bars which complement the established music venues and nightclubs. Other operators include Black Dog Ballroom, the Night and Day Café, Band on the Wall, Matt and Phred s Jazz Club and The Frog and Bucket Comedy Club. Piccadilly Gardens Market Street Piccadilly Gardens OLDHAM ST TIB ST THOMAS ST Muse Development GREAT ANCOATS ST Market Street HIGH ST BACK TURNER ST Arndale Shopping Centre SHUDEHILL Shudehill Shudehill Interchange PRIME DEVELOPMENT OPPORTUNITY Victoria Train Station NOMA The area has seen significant investment through the Northern Quarter Regeneration Strategy and has recently attracted large scale investment with the completion of the Crowne Plaza hotel and MUSE s One Smithfield Square residential and leisure development which will be complemented further with the renovation of the original Smithfield Market building. Number 1, 3 and 5 Back Turner Street runs along, towards and is visible from Shudehill and the adjacent land to the right side elevation of the property fronts onto High Street.

4 DESCRIPTION Number 1, 3 and 5 Back Turner Street comprises a brick built part four and part five storey building which has retained all of its original exterior features including arched window and door openings and glazed brickwork detailing. The property has been vacant for a number of years. The property benefits from a cleared site known as 71 High Street which lies immediately adjacent. The existing property extends to circa 935 sq m (10,061 sq ft) on a net internal basis, on a site of 472 sq m.

5 SITE PLAN THOMAS STREET SHUDEHILL SOAP STREET 472 sq m BACK TURNER STREET HIGH STREET

6 POTENTIAL USES The opportunity lends itself to a variety of uses (subject to planning). RESIDENTIAL The premises sits in the heart of the Northern Quarter and its multitude of residential developments. The most notable scheme in the immediate vicinityis the joint venture between Network Rail and Muse who will be undertaking a 185m mixed use scheme on a 2.5 acre site on Corporation Street. The development will include a 150,000 sq ft office building together with 520 residential units in 2 blocks of 20 and 25 storeys. OFFICES The Northern Quarter has transformed from a relatively low value location to an established part of the city s office market. The area has become recognised as Manchester s cluster for TMT occupiers, attracting institutional investors and recording strong rental growth. Headline rents for Grade A stock have now hit 34 per sq ft in Manchester and evidence suggests that per sq ft could be achieved over the next months. Town Centre Securities 91 units in an 11 storey block on Tariff Street. Mulbury Homes 134 units in a 14 storey block on Port Street. Muse Developments Muse Developments, in partnership awith Manchester City Council, has recently completed the first stage of restoration at the historic Mackie Mayor building. The Grade II Listed building on Swan Street is the only remaining fully intact building from the former Smithfield market. Opened in 1858, it was originally used as a fresh produce market, but had lain empty since the early 1990 s. The wider Smithfield regeneration scheme has been delivered, in partnership with Manchester City Council, over seven phases throughout the past 14 years. It has delivered more than 350 apartments, the Crowne Plaza and Holiday Inn Express hotels and over 30,000 sq ft of ground floor space accommodating 12 new businesses. The award-winning first phase included the refurbishment of the former historic fish market walls and created a large public courtyard framed by new and old buildings and One Smithfield Square, a ten-storey residential building comprising 77 apartments, was recently crowned Best Apartment Building at The Sunday Times British Homes Awards.

7 PROPOSAL Offers are sought in excess of 2,000,000 (two million pounds) TENURE Freehold CONTACT Robert Goodall Goodall Investments Ltd. 47 Newton Street, Manchester M1 1FT e rob@goodallinvestments.co.uk m IMPORTANT NOTICE Goodall Investments gives notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4. The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. Published June 2016, photography taken June