Manchester’s Maybrook House changes hands

A private UK-based family investor has acquired the 68,000 sq ft mixed-use building for around £12m. 

Maybrook House, located on the corner of Deansgate opposite the recently transacted Speakers House, was put up for sale last autumn. 

The vendor, Nuclear Liabilities Fund, had sought offers of around £16m for the asset. A sale at the price would have been slightly below the £16.1m the fund acquired the building for in 2015. 

However, sources indicate the asking price was dropped following market volatility in the latter part of 2022. Maybrook House ultimately sold for around £12m, it is understood.

The building is currently let to seven tenants with around 15,000 sq ft vacant and has a WAULT of 5.4 years to expiry and 3.2 years to break. 

Maybrook House sits on half an acre within the St Mary’s Parsonage Strategic Regeneration Framework.  

Indicative proposals for the site’s redevelopment were drawn up by Jon Matthews Architects prior to the property being put on the market. 

A massing study suggests the site could house a 17-storey building. It is understood the new owner intends to hold the asset, rather than redevelop it.

CBRE acted for the vendor and the buyer was unrepresented. 

Other major schemes within the regeneration zone include:

• Bruntwood’s 100,000 sq ft Alberton House  
• Investec’s 564,000 sq ft Kendall Milne building conversion 
• Oval Real Estate’s mixed-use redevelopment of Albert Bridge House.