Situated at the bustling intersection of Charlotte Street and Faulkner Street in Manchester's city centre, this Grade II listed property offers a unique investment opportunity. Its location benefits from proximity to Piccadilly Gardens and excellent transport links, including Metrolink services and Piccadilly Train Station, which is less than half a mile away. The vibrant China Town nearby is home to numerous well-established restaurants, enhancing the area's appeal.
The building itself features five storeys arranged over a basement and four upper floors, with part of the ground floor currently leased to YUZU, a notable Japanese restaurant generating an annual rental income. Additionally, the basement accommodates Vina Karaoke on a newly established 14-year lease.
While part of the ground floor remains occupied, significant redevelopment potential lies in the upper floors and vacant ground space. These areas are in shell condition, suitable for a variety of future uses such as residential apartments, co-working spaces, or hospitality ventures—pending necessary planning approvals. Current planning consent exists for character offices until March 2024, along with previously lapsed permissions for 12 self-contained apartments in 2016. This combination of location, existing income streams, and redevelopment possibilities positions this property as a compelling proposition for savvy investors looking to capitalize on Manchester's growth.
