Manchester industrial, hotel sites on auction block for £12m

Savills is putting two sites with redevelopment potential – the 4.3-acre former Princes soft drinks factory and the 72-bed Etrop Grange Hotel – under the gavel.

Former Princes soft drinks factory

The freehold for the former Princes soft drinks factory site goes to auction on 10 October with a guide price of £6.5m. Situated off Lord North Street in Newton Heath, the plot in question currently boasts 108,100 sq ft of internal logistics and office space.

The site is split by a railway, with the smaller sitting off the junction of Lord North Street and Grimshaw Lane. This section has 45,500 sq ft of internal space already in place.

The larger site fronts Lord North Street and has 62,600 sq ft of internal warehouse and workspace areas.

Currently, the plot has 36 tenants who pay a total of £730,308 a year in rent.

Savills surveyor George Goucher is the lot negotiator for the site. He said: “The site is strategically located close to one of Manchester’s arterial routes, Oldham Road, with excellent connectivity to the M60, M62, and the M6.

“The property offers an investor a unique opportunity to acquire a high-yielding industrial investment with asset management and future development potential.”

The Etrop Grange Hotel will be up for auction on 1 November. Credit: via Savills

Etrop Grange Hotel

Located next to Manchester Airport, the long leasehold for the 72-bed former Etrop Grange Hotel will be up for auction on 1 November. Currently being used by social housing provider VSPG Housing 2, the hotel has a guide price of £5.6m.

The long leasehold is for 125 years, and began October 2016. The leasehold has a ground rent of £93,081 a year.

VSPG Housing has a two-year lease for the hotel, which will expire in 2025. The hotel’s car park is also leased to Day By Day Car Parking. That agreement also ends in 2025. In total, the two groups pay a rent of £826,000 a year.

Etrop Grange Hotel boasts 72 bedrooms, communal lounges, and a commercial kitchen. It is 29,600 sq ft and has an EPC rating of A.

The hotel sits off Thorley Lane and backs onto Painswick Park. The site has the potential to be returned to its former hotel status, or to become a care home.