Madison Place unit sold for £1.4m
An office at Madison Place in Manchester fully let to an NHS Foundation Trust has been sold for £1.4m, representing a net initial yield of 7.28%.
Carrick Real Estate acquired the building for a private investor. The vendor, LS Holdings, was not represented.
The 7,300 sq ft office, known as The Bridge, is part of the 700,000 sq ft Central Park development in Monsall.
The block is let on a long lease to Central Manchester University Hospital’s NHS Foundation Trust, at an annual rent of £110,000, which is due to expire in 2025.
Nearby occupiers include Fujitsu and Greater Manchester Police Force.