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Manchester property sells for over £9m
03/07/2009
A commercial property in Manchester has been sold for £9.65 million.
According to reports in Crain's Manchester Business, Capital & Counties accepted the sum for the Royal Buildings from Legal and General Property.
The sale price was considerably less than previous valuations.
Situated opposite Manchester's Piccadilly Gardens on the corner of Mosley Street and Market Street, the site is occupied by Skipton Building Society and Burger King.
Abid Jaffry, a partner at Knight Frank, which advised Legal and General, said: "Funds and institutions are certainly becoming more alert to investment opportunities, providing it is the right product."
He added that there are currently limited products available, with many "funders" seeking the security of well-let schemes.
With a global network of more than 165 offices in 36 countries, Knight Frank is a property consultancy.
It claims to deal with around £18.3 billion worth of commercial, agricultural and residential real estate each year.
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