Walkabout building on the market for £1.5m

THE building housing the Walkabout bar and hostel in Manchester’s Quay Street is on the market for £1.5m.

Walkabout, an Australian theme bar, has a lease until 2032 at £150,000 a year and is unaffected by the sale.

The freehold on the six-storey building is being sold by an undisclosed private investor at an auction in London on February 14.

Richard Auterac of auction firm Acuitus said: “This is an imposing building in a good location which offers a buyer the potential of a 10% initial yield on their investment. We expect strong investor interest.”

The building is a former Victorian hospital close to Manchester Opera House.