Manchester's One Portland Street on the market for £20m

Legal & General Investment Management Real Assets – represented by Savills – has brought One Portland Street in Manchester to market for a guide price in excess of £20m.

The building offers 59,201 sq ft of high-quality office and retail accommodation arranged over basement, ground and six upper floors.

The building is currently let to occupiers including Building Blocks, Gear4music, Tesco and Costa Coffee, returning a total net income of £1.32m per annum.

“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,” said Oliver Foster, investment director at Savills.

“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.”

Nearby occupiers to One Portland Street include Bank of New York Mellon, Barclays, Transport for Greater Manchester and Boohoo.

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