A Salford landmark has become the largest commercial property to be sold by an auctioneer this year, snapped up ahead of the sale by Chinese money.
The 120,000 sq ft Sentinel House in Salford, Greater Manchester, was sold for £2.8m to Chinese travel company Omega travel, which plans to keep 50% of the block for commercial use and refurbish the remainder into a hotel.
Roger Hannah Auctions sold the 15-storey tower ahead of their auction today at Old Trafford cricket ground.
The block is 28% let, producing around £300,000 per year, and was listed as having residential and hotel potential.
It was guided at £2.5m and upward, representing a capital value of £20 per sq ft.
The most expensive commercial lots this year are the Cavern Walks in Liverpool, which was sold at an Allsop auction for £4.1m in October, and a shop in Brighton which sold at a CBRE auction for £4m.
chris.berkin@estatesgazette.com
