The collapse of the dotcom sector has forced City Park Solus, Manchester, back on to the market.
Exactly a year after internet infrastructure provider Telecity took London & Metropolitan’s 104,420 sq ft (9,770 sq m) unit at Brindley Road, the building is vacant again.
The telehousing deal smashed Manchester’s industrial rent record last year, at a rent of £5.25 per sq ft (£56.51 per sq m) on a 25-year lease, with a six-month rent-free period.
Since last October Telecity’s shares have tumbled and its market capitalisation is now well below its £1bn peak.
Jason Print, at letting agent Chesterton, said: “We already have interest at the passing rent, which shows last year’s deal was sustainable.” Joint agents are Knight Frank.
City Park Solus was developed by London & Metropolitan on behalf of Dutch property giant Rodamco BV, represented by Haslemere Estates.
EGi News 06/11/01
