Deansgate leisure investment for sale

A three-storey building which houses La Tasca, The Botanist and The Living Room in Manchester's Deansgate is on the market with a £7.5m price tag, a net initial yield of 5.17%.

76-78 Deansgate is a 35,000 sq ft property near to House of Fraser owned by La Roque Trust Company. Around 10,000 sq ft is let to New World Trading Company's The Botanist, which took the former Label unit and opened following a £1.5m refurbishment last August. La Tasca operates from a 7,000 sq ft unit.

The upper floors totalling 17,000 sq ft were recently vacated by ABA Leisure who used the site for the Baby Blue nightclub.

80 Deansgate, which is occupied by The Living Room, is also part of the freehold ownership.

CBRE and Jenics are marketing the building on behalf of La Roque, with the vacant upper floors outlined as having potential for alternative uses such as hostel, bar, gym or other leisure activities.

Other restaurant and bar operators nearby include San Carlo, Café Rouge, Côte, Las Iguanas, Cicchetti, Patisserie Valerie, La Vina, Gaucho Grill and Bella Italia.