Office with ‘largest floorplates in South Manchester’ on block for £14.5m
Jackson House on Sibson Road in Sale is owned by CEG and offers 125,000 sq ft of workspace in total, including 30,000 sq ft floorplates.
Savills has been instructed to market the South Manchester office and is seeking bids in excess of £14.5m.
A sale at this price would reflect a net initial yield of 12.6%.
The building underwent a £6.5m refurb in 2021, which included all new windows, a gym, and a new reception area.
Jackson House is 60% let to clients including Close Brothers and Sesame Banking Group.
Savills believes the asset will attract interest due to its relative rarity. Marketing materials note that more than 850,000 sq ft of office space in Trafford has been “lost to PD conversion since 2016…[strengthening] the supply/demand dynamics for remaining office stock”.
CEG acquired Jackson House in 2010 for £11m as part of a deal that included 196 Deansgate in Manchester.
The Deansgate asset was sold to AM Alpha in 2023.
