Manchester Office for Sale - Outer Manchester
Explore this premier opportunity to acquire a multi-let, high-quality asset below replacement cost with ample growth potential and a commanding position near Manchester Airport.
Manchester International Office Centre (MIOC) comprises 90,154 square feet arranged over a ground and two upper floors. The H-shaped structure features a unique layout, with the front and middle wings comprising three storeys, while the rear wing consists of two storeys. MIOC is situated on an expansive 6.6-acre site with 534 parking spaces and a 1-acre development site at the front, suitable for drive-thru, roadside, hotel, or office uses. Offers in excess of £16,000,000 reflect a Net Initial Yield of 11.10% after full purchaser’s costs. A purchase at this level reflects a low capital value of £177 per square foot, which is substantially below the replacement cost.
The building has undergone a complete internal transformation, with refurbished reception and common areas. It features air conditioning with comfort cooling, suspended ceilings with LED lighting, high-quality finishes throughout, gas central heating, and carpeted floors with trunking. Amenities include a building manager/receptionist, on-site café and business lounge, conference and meeting rooms, a gym with changing facilities and showers, cycle lockers, and landscaped gardens.
MIOC is 95% occupied with a diverse mix of occupants in industries like logistics, engineering, aerospace, energy, tech software, and more. These tenants contribute to a total passing rent of £1,893,328 per annum. There are ample opportunities to enhance income and capital value via lease re-gears with many tenants below average rates, extended lease terms, letting the final vacant suites, and developing on the 1-acre site.
MIOC is located 1.5 miles from Manchester Airport and 8 miles south of Manchester city centre. The M56 motorway is 1.8 miles west, the A555 is 255 metres to the south, the M60 is 2.6 miles north, the M6 is 11 miles west, and the Heald Green railway station is 0.4 miles north, providing multifaceted transport links. The property is accessed via an estate road shared with high-profile neighbouring occupiers and is situated adjacent to several other office developments, including Manchester Green and Trident Business Park.
As northern England’s powerhouse, Manchester has cemented its position as the UK’s foremost regional city beyond London. The Greater Manchester economy generates an impressive £78.7 billion in Gross Value Added, outperforming the combined economic output of Leeds, Liverpool, and Sheffield. This thriving metropolitan region continues to experience the fastest growth rate among all UK regional centers, reinforcing its status as the North’s undisputed economic and cultural capital.
Few business locations could be better placed for local, national, and international occupiers than MIOC. Situated minutes from the international airport, it provides an unrivalled business location and outstanding outlook for appreciation.
