Jones Lang LaSalle - Retail Sale - Manchester, King Street

Date: 05 Nov 2002

A predominantly high street retail investment at 47-49 King Street, Manchester has been acquired by private clients of Jones Lang LaSalle from Equitable Life for a sum of £1.655 million reflecting a net initial yield of 6.67%.

The property consists of a ground floor retail unit with six floors of offices above, extending to a total floor area of 486.29 sq m (5,235 sq ft). The property’s principal tenant is Jones The Bootmaker with various office occupiers located on the upper floors.

Jones Lang LaSalle represented the purchaser whilst CB Hillier Parker and Cushman Wakefield Healy & Baker acted on behalf of the vendor.

Jonathan Mills, Senior Surveyor, Investment, Jones Lang LaSalle Manchester commented:

‘The acquisition of this property by a Manchester based investor reflects the continued faith in the future of King Street.’

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