Northern Assurance Buildings, Kinrise, c PNW

Kinrise acquired the building in 2015. Credit: PNW

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.

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