The sale of a four-storey office building close to Manchester city centre for more than £300 per sq ft was one of the highlights of Auction House North West’s July auction.
76 Quay Street (pictured), a 5,556 sq ft freehold office building on the fringes of the Spinningfields district, sold for £1.65m at the 4 July auction, outperforming second-hand office sales in the area. It is the most expensive commercial lot that the auctioneer has sold to date.
The building was one of 73 lots offered at the auctioneer’s 4 July sale. Overall, the auction raised a total of £6.3m, reflecting a success rate of 72%.
“This sale underlines the continued demand for prime Manchester city centre property,” said Stuart Cooper, director at Auction House North West. “The price once again proves that auctions can achieve quick results at full market value, given the right conditions.”
Last year, Auction House North West’s July auction raised £6.2m. The auctioneer sold 70 of the 95 lots offered – a success rate of 74%.
The auction house’s next auction will be held on 5 September at Bolton Wanderers Football Stadium.
