Jones Lang LaSalle has been instructed to sell Skyline Central 2, the 19-storey rental apartment tower in central Manchester developed by West Properties during the boom.
The building comprises 129 flats and includes a swimming pool on the 18th floor and 24 hour concierge. Skyline Central 2 is fully occupied and the sale is a rare opportunity to buy a prime rental apartment block in its entirety.
JLL is expecting interest from overseas sovereign funds in the tower.
Tom Henry, residential director of Jones Lang LaSalle, said: "The recent influx of capital into the residential investment market has been significant with international funds, housing associations and increasingly domestic institutions seeking to increase their exposure to the sector. Given that Manchester offers a combination of strong rental returns and huge potential for capital growth, we anticipate strong demand for this asset."
Jones Lang LaSalle is acting for Wheatley Properties on the sale.