Quays office block bought for £17.6m by property investor

PROPERTY investment company Picton has acquired the fully-let Metro in Salford Quays for £17.6m.

The building on Trafford Road is close to the BBC’s home at MediaCity UK.

Picton says that after finance costs the transaction will increase the company’s net income by about £0.9m a year, rising to £1.2m per annum in April 2017, reflecting an increase in dividend cover of 5% and 7% respectively.

Constructed in 2008, the building comprises a 71,000sq ft office building with a BREEAM &ldquo... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...