Peel puts another Castlefield property on the market

The Peel Group is selling Castle Quay, the converted Castlefield warehouse that is home to the radio station Key 103 and others.

The Grade II-listed building is being marketed by Jones Lang LaSalle with an asking price of £3.4m.

Other tenants include quantity surveyor Edmond Shipway, WPP-owned ad planner Kinetic Worldwide, Choice Bar & Restaurant, financial adviser MGP investments and Eight Cafe Bar. There are also a number of apartments.

The move by Peel's land and property division follows last year's sale of the adjacent Jackson's Wharf building to pub operator Brunning and Price.

Many of Castle Quay's residents spent five years campaigning against Peel's plans for a large residential block on the Jackson's Wharf site.

James Porteous of Jones Lang LaSalle said: "We expect to receive significant interest from both local and national investors for this historic, well let, character property situated in very prominent gateway location into the city centre."

The property was built in 1831 by the Manchester Ship Canal Company. It was originally used to store maize transported using the Bridgewater and Rochdale canals.

The 23,500 sq ft building generates rent of £324,000 a year. Peel said the sale of a 175-year lease would not affect tenants or occupiers.

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