Bruntwood sells off Manchester property

Tue, 17 Jan 2012 | BUSINESS SALE

Property firm Bruntwood is to begin sell off some off its prominent assets this month, according to the Manchester Evening News.

The report states that the first commercial property to be sold off is 1 New York Street, a new-build in Manchester. It is understood it will be sold for around £40 million, with estimates that the net initial yield will be approximately 6.5 per cent. The article says that the 110,000 sq foot property will be sold to American firm Invesco.

Bruntwood owns a number of properties, many of which are located in Manchester. It is understood that properties in the lively northern city are currently in demand, prompting Bruntwood to put the New York Street building on the market.

Experts say that the profit from the commercial property sale might be used to help fund the purchase of a £20 million property in the centre of Birmingham.

However, sources told reporters that Bruntwood’s core Manchester portfolio of properties would not be sold. They told MEN that the company was not about to become a property trader.

MEN quotes a source close to Bruntwood as saying, “The hard commercial reason for selling is that Bruntwood can sell newly-built properties like this at today’s prices, but continue to buy older buildings at the much cheaper prices of the early 1990s.”

Share this article

Latest Businesses for Sale

Festival Operator Business
Essex, South East, UK

An excellent opportunity exists to purchase the business and assets of a well-established festival business that has built up a successful annual festival in the South East of England. Offers invited.

Asking Price: £100,000
Turnover: £5,000,000


Commercial Lighting Contractor Business (Fast Sale)
Oxfordshire, South East, UK

A sale will be executed at the earliest opportunity. All expressions of interest must be registered by no later than 22 July 2020. An excellent opportunity exists to purchase the business and assets of a well-established commercial lighting contracto...

Asking Price: £50,000
Turnover: £5,000,000


Telecoms & IT Services Provider
London, UK

An opportunity to acquire a UK-based telecoms and IT multi-layered services provider delivering leading edge services to contracted telecoms partners. Successful model operating for over 17 years, in 3 different countries. Significant professional fr...

Asking Price: Offers Invited
Turnover: £2,700,000

View more businesses for sale

News Search

Latest News


Mobile phone supplier and recycler goes into administration | ADMINISTRATION

Mobile phone refurbishment company Redeem UK has gone into a...


John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS

Department store chain John Lewis has said that eight of its...


Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS

Chancellor Rishi Sunak has announced a £30 billion pla...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Last Word Media business bought for up to 9x EBITDA | BUSINESS SALE

International B2B media company Last Word Media has been acq...


Premier Inn snaps up Leeds building in expansion plans | COMMERCIAL PROPERTY

Premier Inn has snapped up a building in Leeds, transforming...


Bruntwood buys landmark Birmingham office | COMMERCIAL PROPERTY

Commercial property firm Bruntwood has exchanged contracts t...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources