Bilfinger GVA’s Investment team in Manchester has sold 97 Talbot Road, Manchester, a corporate headquarters for tenant Centrica plc, at a value of £17.2million to private overseas investors.
Acting on behalf of a private investor group, leading commercial property adviser, Bilfinger GVA secured the sale of the Old Trafford-based office building above the asking price, reflecting a yield of 6.9%.
The three-storey 92,000 sq ft office, which is occupied by the ‘Home Move’ division of British Gas, will undergo a major refurbishment programme to upgrade the accommodation, following the agreement of a new reversionary lease term of ten years from March 2015.
