M&G puts Aviva’s York headquarters up for sale

M&G has appointed ACRE Real Estate to market Aviva’s York headquarter office for offers over £13m. The 69,351 sq ft Moorside Monks Cross building is let to Aviva and offering 5.6 years of investment grade income with annual RPI indexation of 0-5%. M&G is marketing the site with potential for residential redevelopment. It is adjacent to Bellway Homes’ 970-home consented Monks Cross North masterplan. Approved on appeal in February this year, the scheme will be phased over the next 10 years, and will see the development of one- to five-bedroom homes. The site will include a 30% affordable housing provision and amenities, including a primary school, sports pitches and a shop. See occupational sale comparables in North Yorkshire >>