Talbot Road building sold for £17.2m
BILFINGER GVA’s Investment team in Manchester has sold 97 Talbot Road, Manchester, a corporate headquarters for tenant Centrica, for £17.2m to private overseas investors.
Acting on behalf of a private investor group, commercial property adviser, Bilfinger GVA secured the sale of the Old Trafford-based office building above the asking price, reflecting a yield of 6.9%.
The three-storey 92,000sq ft office, which is occupied by the Home Move division of British Gas, will undergo a major refurbishment programme to upgrade the accommodation, following the agreement of a new reversionary lease term of 10 years from March 2015.
