AXA Investment Managers has put its Downing Street Industrial Estate in Ardwick, Manchester, up for sale.
The Paris-headquartered asset manager has appointed CBRE to market the opportunity, which is priced at £11m, representing a 4.27% net initial yield.
Downing Street industrial estate is located close to Manchester City Centre and can be accessed via either the Mancunian Way or the A6 Stockport Road. The 75,000 sq ft scheme spans across nine facilities, comprising office, warehouse and logistics spaces.
Tenants on the estate include Royal Mail and Speedy, with an average rent of £5.64 per sq ft.
The leases have been regeared to provide a redevelopment opportunity with scope to create a high density residential-led development.
See Manchester occupational sale comparables information>>
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