Waterstones’ block sold for £17m
THE Waterstones’ building in central Manchester has been sold to property investor EPIC UK for £17m.
The 40,000 sq ft block on the corner of King Street and Deansgate, known as One King Street, has been sold by Royal London Asset Management.
Meanwhile, it has emerged that Property Alliance Group has sold its Freetrade Exchange building opposite the Radisson Edwardian on Peter Street to CBRE Global Investors. The deal, for an undisclosed sum, completed in May.
Manchester-based Zaman Roberts advised Epic UK on the King Street acquisition. It said the deal represented a yield of 5.98%.
In a statement the firm said: “The asset was brought to the market and generated interest from over 20 parties. The building provides retail, offices and the potential for a residential conversion on the upper parts.”
TMI represented Royal London Asset Management.
