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... For the full story register now for free or login below...