Atria, Bolton

Multi-Let Office Investment in Greater Manchester with Accretive Asset Management Initiatives.

• Bolton is a key player in the North West’s economy, contributing over £4.4 Billion of GVA per annum to the total Greater Manchester GVA.
• The town benefits from outstanding connectivity, with direct train services into Manchester in 15 minutes and less than a 10-minute drive to the M61 and M60 motorway network.
• The property is 98% occupied and let to a diverse range of private and public sector tenants with a total passing rent of £900,395 per annum (equating to a low average rent of £12.98 psf, inclusive of car parking).
• Atria benefits from a number of sustainability initiatives including the installation of PV panels, which has substantially improved the buildings energy efficient performance and future-proofed the asset.
• The vendor has spent circa £700,000 undertaking extensive refurbishment works over the last three years, delivering a refurbished entrance/reception and a new communal amenity area.
• The property benefits from an Average Unexpired Lease Term of 4.50 years to expiry and 3.23 years to break.
• The asset has significant reversionary potential with an estimated reversionary rent of £971,124 per annum.
• We are instructed to seek offers in excess of £8,450,000 (Eight Million, Four Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect the following assuming purchaser’s costs at 6.68%.