Morgan Stanley to sub-let mortgage HQ
DTZ’s Manchester office has been appointed by Morgan Stanley to dispose of the former headquarters of its ill-fated mortgage business in Ellesmere Port.
Chester House on Cheshire Oaks Business Park was the home of Advantage Home Loans, the US bank’s mortgage business that closed in February with the loss of around 100 jobs.
Morgan Stanley wants to sub-let the two-storey, 10,969 sq ft property, along with 38 car parking spaces, for £14 per sq ft.
The Grade A building is held on a full repairing lease, which expires in May 2016.
Rent for an additional 36 car spaces is £10,000. There is also an estate charge of £2,000 a year.
Morgan Stanley bought Advantage Home Loans in December 2005. The niche lender provided mortgages for people with credit ratings or a poor history of earnings.
