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The property is a Grade II listed building offering accommodation over Sub- Basement, Basement, Ground and Four upper floors. There is also a roof terrace located at the 4th floor. Refurbishment and reconfiguration works were carried out in 2019. The 3rd floor has been sold off on a long lease.
The building has been divided to create individual units spread across all floors. The basement and ground floor levels of the property comprise three restaurant / bar units and a vacant office. Two of the units are let, with one unit vacant providing an immediate asset management opportunity. In addition, there are 8 boutique hotel rooms situated within the basement of the building. The upper floors comprise a mixture of event and meeting spaces currently run by a single operator for a mixture of corporate, wedding, and special occasion events. Please refer to accommodation.
Tenure
Long leasehold 999 years from 22 June 2015 (Ground rent £1)
3rd floor sold off on a Long lease 150 years from 2015 at (£0 ground rent)
The building occupied by Honest Burger has been sold off on a long lease 7977 years from 2023 (£0 ground rent)
Accommodation
Please refer to Accommodation and Tenancy schedule
Further notes/ description
Unit 1 - Part Sub Bmnt, Part Bmnt , 1st, 2nd, part 4th
Largest unit is let to Adore Venues Limited t/a Manchester Hall and comprises a staff locker room area to the sub basement, an office and eight very well presented hotel style en-suite bedrooms to the basement (most without any natural light but some having light from front elevation lightwells), large conference rooms, kitchens and toilets to the second floor, an external terrace area to the lower fourth floor and storage areas and predominantly open plan event space and bar serving area with terraces and a retractable roof to the fourth floor. The fourth floor also provides access to the roof space which has been part refurbished.
Unit 2 - Part Basement - ex Ikon - Vacant
Vacant office unit is accessed via a private entrance at the rear of the building on Wood Street. The entrance leads to a spiral staircase down to the basement where there is well presented open plan office accommodation with additional mezzanines providing further office space. The accommodation has high ceilings and is well lit and does not therefore have a traditional basement feel. This accommodation has toilets off the office space (not inspected) and a basic storage area within the sub basement.
Unit 3- Part Ground, Part Basement
A unit let to Beehive Restaurants Limited t/a Masons Restaurant provides a well presented ground floor restaurant (with shared access through the main Manchester Hall entrance). To the rear of the unit there is a kitchen and storage areas and toilets for this unit are located in the basement of the building.
Unit 4 - Part Basement, Part Ground -ex Boujee - Vacant
Comprises a ground floor entrance and reception area leading through to a large open plan restaurant area with additional rooms off the main central hall area. Toilets, kitchens and storage areas are located to the basement.
Unit 5 - Part Basement, Part Ground
Unit let to Dishoom also has a ground floor entrance and reception area leading through to a large open plan restaurant area with various different rooms off. Toilets, kitchens and storage areas are located to the basement.
Unit 6 - 3rd floor, Sub Basement & Strong Room
The third floor of the building was retained by the Freemasons on a 150 year long leasehold as an obligation as part of the original sale of the building. We did not inspect this third floor accommodation but understand that it provides various large lodge rooms and it was also refurbished around 2018/19 at the same time as the remainder of the building.
Unit 7 - Part 4th floor
This forms part of the unit occupied and leased by Adore Venues Limited and the description of the accommodation can be be found under 'unit 1' under 4th floor description.
Tenancy
Please refer to Accommodation and Tenancy schedule
Please note that a number of the tenants may be in arrears (Please refer to the legal pack)
Rent
Notes
Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.
Please note on Commencing on 5th anniversary of the commencement of the term under the Freemasons lease (i.e. from 10 July 2025), the owner shall pay annually, on each subsequent anniversary of the date of the lease, the sum of £120,000 into a capital works fund until the total contribution amounts to £600,000.
Joint Agent
Joseph Kemp
Savills - UK Investment
Mob: 07866 203 541
Email: joseph.kemp@savills.com