Location

55 Princess Street, Manchester

Project

Value-add to city centre office

Activities

The property was acquired in 2013 for £11m and was subsequently refurbished and repositioned, adding £7m in capital value, without compromising the institutional quality of the asset. An interactive 3D CGI show suite was installed to showcase different layouts and fit-out options.

Results

The property was sold in 2015 for £21.9m at a 5.65% net initial yield and £390 per sq ft to Aberdeen.