NatWest has finally sold 55 King Street in Manchester to Orbit Developments, ending months of speculation over the building’s future.
The terms of the deal are confidential although local sources value the deal at about £23m. NatWest secured planning permission to refurbish and remodel the 11,100 sq m (119,483 sq ft) scheme as retail, leisure and office space.
Orbit’s Stan Annison said the company is talking to a number of retailers and office occupiers to take space in the scheme. Furniture store Heals, and booksellers Borders and Waterstones have been linked with the scheme.
NatWest quit the building in 1997 when it moved offices to Amec’s Great Bridgewater scheme and relocated banking facilities to Spring Gardens.
Orbit has appointed Tushingham Moore and Jones Lang Wootton as letting agents. JLW and Lambert Smith Hampton acted jointly on the sale of the scheme.
EGi News 10/02/99
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