Colliers has been appointed by private clients to sell Parkers Hotel, a Grade II listed building adjacent to Manchester Victoria Station, for offers in excess of £14 million.
The historic property which spans 75,046 sq ft of gross internal area currently provides 106 residential units, ranging between studios to two-bedroom apartments, and benefits from a health clinic, gym and dance studio on the lower floors of the property.
Built in the early 1900s for the Cooperative Insurance Society as its headquarters, the property was converted in the 1990s to residential apartments. Located in the heart of Manchester city centre fronting Corporation Street, the property is adjacent to NOMA, the eight-hectare commercial and residential district. The main shopping district and Manchester Victoria station are within a five-minute walk.
Tim Meakes, director in the National Capital Markets team at Colliers, comments: “Parkers Hotel offers prospective owners a rare opportunity to receive good income whilst being able to plan long term asset management strategies for both the retail and leisure space and the potential to re-develop and reconfigure the existing residential units. With its enviable location and potential, we expect there to be significant interest from investors, many of whom are currently looking for value add opportunities.”
