Piccadilly development site sold at auction

Savills auctioneers have sold 56/58 Dale Street and 3 China Lane, near Piccadilly station in Manchester to an undisclosed property company for redevelopment.

The freehold was sold for £1.2m and comprises an island site of three inter-linking warehouse buildings.

The five-storey building totals 57,000 sq ft and includes a cleared external site at the corner of Back Piccadilly and Mangle Street.

Planning permission was granted in 2000 for the creation of 58 residential units and 10,375 sq ft of A1/A3 use on the ground floor and basement.

In addition, planning and listed building consent was also obtained in 2008 for the conversion to serviced office space with a new build infill block at the corner of Mangle Street and Back Piccadilly.

The property was sold at the latest Savills auction at Claridge's Hotel, London where 11 of 15 lots were sold, raising over £6.78m.

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