Sunlight House not for sale

Sunlight House, the 215,000 sq ft office in Manchester city centre, is no longer on the market after being pulled by owner Aberdeen Standard Investments.

The grade two-listed building was put up for sale in April for around £54m, a deal which would have delivered a net initial yield of around 6%.

Aberdeen is understood to have received several bids at around £53m, but has decided to no longer sell. A source close to the deal suggested the decision was due to internal changes within Aberdeen, rather than a statement on the Manchester investment market.

The building underwent a £4m refurbishment last year, delivered by ADT Workplace and Ardmac.

Current tenants include St James’s Place Wealth Management on the building’s seventh floor, and Rentalcars, which has around 63,000 sq ft over three floors.

CBRE was marketing Sunlight House on behalf of Aberdeen. CBRE and Aberdeen both declined to comment.

Sunlight House was bought by Scottish Widows Investment Partners, part of Aberdeen Asset Management, from Aviva for £35m in 2014.