Trinity Bridge House on the market for £36m
The government building boasts 205,700 sq ft of city centre office space at No2 Dearmans Place in Salford, next to the River Irwell.
Manchester Alcock and Bradshaw holds the long leasehold on Trinity Bridge House, which dates back to 1998. The company is seeking offers in excess of £36.4m. This price reflects a net initial yield of 8.3% and a capital value of £159 per sq ft.
ACRE Capital Real Estate and Knights Frank are joint agents for the property.
Trinity Bridge House is currently fully let to the Department for Levelling Up, Housing, and Communities on a 15-year FRI lease, accommodating 3,000 employees across eight floors. The government’s lease is due to expire in August 2028.
At the moment, the tenant pays a rent of £3.2m, which is subject to be reviewed in August.
The 1.4-acre site presents longer-term redevelopment opportunities, with the capability to accommodate a 20- to 25-residential block or hotel.
The building was last sold in 2013 in a £40m sale and leaseback deal by New York-based real estate investment trust WP Carey.
This building wants demolition and with it it’s surface carpark and replaced by something that looks towards and makes most of river side location.
By Anonymous
It isnt on the river side. There is a building infront of it.
By Dg
‘it it’s surface carpark’ Trinity Bridge House doesn’t have a surface car park, there is one small wholly inadequate level of parking under the building for over 1,000 people, many of whom have long commutes that are unfeasible using public transport. It is also not a ‘riverside location.
By Anonymous