Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • A rarely available iconic mixed use building in the heart of Manchester
    • An approx. 57,413 sq ft (A low capital value of £121.92 per a sq ft on guide price)
    • Comprising of 3 x retail units at ground floor, 8 hotel rooms and office at Basement and extensive function & conference rooms in the upper floors
    • Undergone refurbishment in 2019
    • Instant asset management potential to let out the vacant space
    • Main anchor tenant 'Dishoom Limited' occupying ground floor unit at £210,000 p.a. 18 years unexpired
    • Investment let £1,059,000 (15.12% GIY on guide) Part of the property is part vacant
    • Please Click here for Legal pack

    Description

    Please click here for legal pack

    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.

    Additional information

    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

    £1,059,000 p.a.

    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


      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      Prominently situated fronting Bridge Street, a key pedestrian thoroughfare connecting Salford Station and Spinningfields with the traditional CBD and set to benefit from the continued development of Manchester’s Salford district.

      An approx. 0.3 miles from Salford Station

      An approx. 0.6 miles from Manchester Victoria

      Transport

      Both Salford station and Manchester Victoria offer National rail services

      Legal documents

      Login to view legal documents

      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums