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.
Award winning removals and storage business. Member of National Guild of Removers & Storers Ltd. Well reputed with regular and repeat trade. Early viewing essential to fully appreciate. Offers invited.
LEASEHOLD
Extremely well established, situated in the densely populated town of Burton On Trent. Install premium quality granite and quartz worktops. Superb reputation within the Midlands. Offers invited.
LEASEHOLD
Well established and highly prominent location in light industrial area. Situated in the suburban town of Stourbridge. Well reputed with regular and repeat trade. Genuine reason for sale due to retirement. Offers invited.
LEASEHOLD
|
16
|
|
Oct
|
Automotive supplier completes MBO | MBO/MBI
An automotive products supplier located in South Yorkshire h...
|
15
|
|
Oct
|
Tomlinsons Dairies falls into administration | ADMINISTRATION
Wrexham-based dairy firm Tomlinsons Dairies has announced to...
|
14
|
|
Oct
|
PE firm snaps up independent video game firm | BUSINESS SALE
Private equity firm NorthEdge Capital has successfully acqui...
Sign up to receive our acquisition alert emails to get your FREE guide
|
01
|
|
Jun
|
Developers keen to acquire Royal Mail's Rathbone Place site | BUSINESS SALE
One of the West End’s largest commercial property deve...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources