The Carlyle Group has put the adjoining Manchester office blocks up for sale.
The sale price is reported to be £118m; this would equate to a net initial yield of 5.75%.
Piccadilly Place is a mixed-use development located at the centre of Manchester’s transport hub, in the heart of Manchester’s business district.
Piccadilly Place provides 320,000 sq ft of Grade A office space. The top five floors of 4 Piccadilly Place are let to Barclays and an additional 5,500 sq ft is let to TotalJobs Group.
The main occupier at 3 Piccadilly Place is NuGeneration who has taken 30,000 sq ft of office space across two floors.
Other occupiers in the buildings include: Weightmans LLP, NHS North West, EC Harris, The Insolvency Service and ARUP.
The Carlyle Group is being advised by CBRE and Bilfinger GVA.