Mon, 27 Feb 2017 | COMMERCIAL PROPERTY
The Printworks, Manchester city centre’s four floor, 350,000 sq ft leisure destination, has been acquired for £108 million.
Land Securities today announced the completed sale of the site, which was redeveloped and re-opened in 2009, to DTZ Investors.
The Printworks, which welcomes more than seven million visitors a year, houses a 20-screen Odeon cinema which includes the only Imax screen in Manchester, a host of food and drink venues including brands like Tiger Tiger, Hard Rock Cafe and Wagamama and a health club.
The scheme is close to the MEN Arena and enjoys footfall from people attending events there. It generates a net annual income of £6.75 million.
Polly Troughton of Land Securities said: “We have created value at the Printworks through asset management, resulting in the lowest level of vacancy rates for a number of years. This sale crystallises the increased value the team has delivered.”
Tony Brothwell at DTZ Investors said: “We have been looking to gain exposure to the vibrant central Manchester retail and leisure market and the Printworks represents a rare opportunity to acquire a major freehold investment located in the core of the city on an attractive yield basis.”
Find commercial property for sale.
The wholesale business has an established trading history and has built up a strong reputation and a loyal customer base. Business is drawn from a wide demographic of clients with a good spread across different business sectors.
This is a unique opportunity to acquire a company specialising in luxury performance cycle clothing, utilising the finest specialist fabrics and cutting-edge construction techniques.
A leading internet-based provider of customisable and curated beauty box services. Over the last decade, the business has evolved from a premier subscription service to a leading internet-based provider of highly attractive and rapidly expanding beau...
WEB-BASED
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.