THE FORMER Manchester Stock Exchange on Norfolk Street is being brought to the market at a guide price of £1.5m.
Commercial property consultant CBRE is advising on the sale.
The freehold is available at a quoting price of £1.5m, reflecting £65/sq ft of capital value, with the additional benefit of current rental income totaling £93,700 a year.
The 22,852 sq ft grade 2-listed building is currently home to restaurant, Stock. It was completed in 1907 to the designs of Bradshaw and Gass in a chunky Edwardian Baroque style. Now called Bradshaw, Gass and Hope, the firm still thrives in Bolton. Other Manchester landmarks from the practice include the nearby Royal Exchange.
Arranged over five floors with basement parking for 11 vehicles, the site is suitable for refurbishment to accommodate hotel, residential or office space.
The freehold is available at a quoting price of £1.5m, reflecting £65/sq ft of capital value, with the additional benefit of current rental income totaling £93,700 a year.
Will Kennon, associate director national capital markets at CBRE, said: "The Stock Exchange offers major advantages for any potential investor, with a prime location, existing ground floor restaurant and bar facility and stunning architectural features.
"The building is suitable for a number of uses with the opportunity to develop a boutique hotel, subject to planning, along with the obvious refurbishment potential to provide high quality office accommodation."
"There are currently strong levels of demand for boutique hotel accommodation within the traditional prime core of Manchester and we believe this asset provides an ideal conversion opportunity."
This story first appeared on our associate site Place North West.
