Printworks sale called off until New Year
17 September 2007 12:46
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The sale of leisure complex the Printworks in Manchester has been halted by BA Pension Fund and fund manager Pearl Group after a buyer failed to emerge.
A 75% stake in the 350,000 sq ft scheme near Victoria station and The Triangle was on the market, handled by Morgan Williams, for £124m, reflecting a 5.1% yield
Printworks is expected to be remarketed in the New Year at around £115m. Printworks was developed by Richardsons Real Estate Developments and opened in 2000. Main tenants include Cafe Rouge, Hard Rock Cafe, Odeon Cinema, Opus, Tiger Tiger and Wagamama.
