A 15,580 sq ft historic warehouse on Chorlton Street in Manchester is to become a serviced apartment scheme.
The four-storey 40 Chorlton Street was bought by Cringle Corporation for £2.3m in April this year. The property was formerly home to Mash & Air restaurant and Jongleurs Comedy Club.
The specialist markets team at CBRE has now been instructed to secure an operator for the scheme, with the building due to undergo a full refurbishment over the course of the next year.
The property can be extended to include a fifth storey, taking the total size to 21,245 sq ft with the capacity to include up to 40 serviced apartments.
Nick Huddleston, senior surveyor in CBRE's North West specialist markets team, said: "Serviced apartments have become a popular alternative to hotels in the last few years – particularly in cosmopolitan cities such as Manchester. Manchester has really strengthened its standing as one of the country's most popular leisure destinations boasting several world-class music venues and numerous annual events that pull significant numbers of people into the city."