A Salford office block let to the Department for Levelling Up, Housing and Communities has been brought to market for offers of more than £36.4m.
New York-based real estate investment trust WP Carey has tasked Knight Frank and ACRE Capital Real Estate with finding a buyer for the long leasehold of Trinity Bridge House at 2 Dearmans Place.
The government has occupied the 205,713 sq ft, eight-storey building since it was built in 1998 and has invested in updating the property since. Its current lease expires in August 2028.
The agencies are marketing the site as a “long-term development opportunity” that could be repositioned for hotel or residential use subject to planning and freeholder consent.
WP Carey bought the long leasehold, for a term of 150 years with 124 years unexpired, in 2013 as part of a sale-and-leaseback deal.
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