Manchester's Parkers Hotel, a Grade II-listed building around the corner from Manchester Victoria Station and the historic home of Co-op Insurance, has been put on the block for £14 million.
The circa 75,000-square-foot building has 106 residential units, including studios and two-bedroom apartments, and houses a health clinic, gym and dance studio on the lower floors of the property. The gross income is circa £1.2 million per year.
Built in the early 1900s for the Cooperative Insurance Society as its headquarters, the property was converted in the 1990s to residential. It sits close to NOMA, the eight-hectare commercial and residential district that hosts the modern day Co-op offices.
The main shopping district and Manchester Victoria station are a five-minute walk from the property, which sits on 0.34 acres. CoStar data indicates that the current owner of the building is Euromanor Properties. Colliers has been instructed to sell the property at 109-111 Corporation Street.
Tim Meakes, director in the national capital markets team at Colliers, said: "Parkers Hotel offers prospective owners a rare opportunity to receive good income whilst being able to plan long term asset management strategies for both the retail and leisure space and the potential to re-develop and reconfigure the existing residential units."