Posted 8 November, 2012 OBI NEWS
OBI Property and Savills have announced today they have agreed the sale 67-73 and 75 Mosley Street, Manchester city centre. The sale has been made to a syndicate of private individuals and the total price for both buildings combined is £4 million.
Sold on behalf of Belfast based Benmore Group, the properties are part let producing an annual rent of £380,000. Comprising 52,500 sq ft in total, the buildings tenants include Bank of China, China Visa Services, Remploy and Scanlans Surveyors.
Gary Scorah, Investment Partner, at OBI Property said: “After a period of inactivity in the market for properties similar to Mosley Street, a number of buyers are now finding potential value going forward through various asset management angles and longer term holds. Financing such deals will continue to prove difficult for the foreseeable future and therefore further syndicated purchases are likely.”