Columbia Threadneedle seeks £10m for leasehold of private jet facility

Knight Frank is marketing the leasehold for a private hangar site with direct runway access at Manchester Airport.

The hangar site, totalling 33,755 sq ft plus 20,667 sq ft of adjoining land, is fully let to RSS Jet Centre –  a subsidiary of Signature Aviation – on two co-terminous leases with an unexpired term of 19.3 years subject to a five-yearly upward only RPI reviews.

The property is located on the south side of the airport freight and aviation zone, with neighbouring tenants including Jet2, STS Aviation Services, Swissport Cargo Services and Dnata.

The hangar is the sole facility in the zone offering private jet services with direct access to the runway. It offers modern hangar space and infrastructure designed to accommodate multiple private and business aircrafts simultaneously. Currently, it handles approximately 10 flights a day, and has capability for baggage handling, immigration, and luxury transfers. The hangar also includes two spacious VIP lounges, a conference room, and crew areas.

The leasehold of the property is currently owned by Columbia Threadneedle, which acquired the asset in 2020. Offers are invited in excess of £9.5m – a sale at that price would reflect a net initial yield of 6%.

Holly McLeman, senior surveyor at Knight Frank, Manchester, said: “The sale of this facility and an adjoining apron of land represents a rare investment opportunity to secure a property with airside access to one of the world’s leading airports.

“The property is a critical component in the North’s private aviation industry and its unique offering underpins the value of the asset as well as the land it sits upon.”