JLL brings Mosley Street bank to auction

30 Jun 2009, 15:43

Number 10 Mosley Street in Manchester, occupied by building society Bradford & Bingley, has been put up for sale at auction on 9 July through Jones Lang LaSalle with a £1.25m guide price.

Richard Auterac, auctioneer at Jones Lang LaSalle, said: "This beautiful and imposing Grade II listed building is superbly located in the heart of the city centre at Piccadilly, and is one of the best properties we have at our next auction.

"Like the housing market, the recession has had a deep impact on prices for commercial spaces, but for superior retail properties such as this, prices have reached the bottom and are now starting to rise again. This property represents a true investment opportunity, especially to someone who wants to own a bit of their local high street."

The property comprises a ground floor banking hall with basement storage and three floors of office/ancillary accommodation above, plus a small mezzanine floor. The third floor is currently unused.

The approximate floor area totals 8,000 sq ft. The current rent is set at £115,000/year. Bradford & Bingley signed a full repairing five-year lease on 7 March 2008.

Jones Lang LaSalle's auction takes place on Thursday 9 July at the Cumberland Hotel on Great Cumberland Place in London. For further information contact Richard Auterac at Jones Lang LaSalle on 020 7399 5300 or Peter Cunliffe on 020 7399 5934.

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