Listed Manchester office on sale for £8.3m
Kinrise is seeking a buyer for the 28,000 sq ft Northern Assurance Buildings, one quarter of the Albert Estate.
The developer has appointed Carrick Real Estate and OBI to find a buyer for the grade two-listed building. Bids in excess of £8.3m are being sought.
Northern Assurance Buildings is well-known within the Manchester property community – as well as being home to the likes of FEC, Metis Real Estate, and Hydrock, Piccolino, a much-loved haunt for property types, can be found on the ground floor.
The building generates net rent of £676,744 a year, with an average rent of £24.50/sq ft.
Northern Assurance Buildings is one of four that makes up the Albert Estate, which Kinrise acquired for £6.7m in 2015.
The others are Victoria Building, 1 Central Street, and 2 Mount Street.
Kinrise sold 1 Central Street to MGTS St Johns High Income Property Fund in 2022.
Earlier this year, Kinrise stepped away from a pair of North West office refurbishment projects it was delivering in partnership with funder Karrev – Martins Bank in Liverpool and Sunlight House in Manchester.
