Globe House on the market for £5.25m
The roughly 22,000 sq ft historic property is situated on Southall Street, within the outer edges of Manchester city centre.
Property consultants W T Gunson and JLL are joint agents for Globe House, which is owned by GH Property. The agents are asking for offers in excess of £5.25m for the property. This price reflects a 7.8% gross yield.
GH Property bought Globe House in 2016, before converting the former Victorian factory into a six-storey residential property boasting 28 one- to four-bedroom apartments.
The homes are spread across five floors, with a basement car park providing nine spaces. Globe House residents also have access to a small on-site gym and spa.
The building is currently fully occupied, counting a range of working professionals as residents including solicitors, pilots, and doctors.
Globe House has a gross annual income of £410,310. This income has the potential to be increased with the granting of planning permission for a further two apartments in 2018. Last year, planning permission for the public use of the building’s leisure facilities was also approved.
