Siemens Manchester HQ returns to market

CBRE is once more taking offers for the 88,700 sq ft building off Princess Road.

Sir William Siemens House was put on the market initially in 2022 with a guide price of £8.9m, only to be taken off the sales radar later that year.

Now, it’s back and without a guide price.

Built in 1990, the four-storey Siemens building sits on seven acres and features 344 car parking spaces. The office block boasts flexible floor plates between 9,000 sq ft and 21,000 sq ft. It is currently owned by Siemens.

The building is, accordingly, fully let to its namesake global technology company. Siemens has a three-year covenant with a two-year break for the property.

The building has a passing rent of £600,000 a year, equating to £6.76/sq ft.

Sir William Siemens House has an EPC rating of D. However, once Siemens vacates the property there is the potential for a refurbishment that could drive up the rent. CBRE notes in its brochure that refurbished rents in Didsbury can get £28/sq ft.

The car park itself presents another development opportunity, pending planning permission, of course.

Jon Ashall, senior surveyor at CBRE, said: “CBRE is delighted to have been instructed to market this landmark asset. The building provides a significant medium-term refurbishment and repositioning opportunity”.