{"id":869,"date":"2024-08-19T13:27:00","date_gmt":"2024-08-19T13:27:00","guid":{"rendered":"https:\/\/propconnections.co.uk\/?post_type=property_investments&p=869"},"modified":"2024-09-03T14:00:01","modified_gmt":"2024-09-03T14:00:01","slug":"barnett-house-fountain-street-manchester-flexible-co-working-shared-office-space-development","status":"publish","type":"property_investments","link":"https:\/\/propconnections.co.uk\/property_investments\/barnett-house-fountain-street-manchester-flexible-co-working-shared-office-space-development\/","title":{"rendered":"Barnett House, Fountain Street, Manchester - Flexible co-working shared office space development"},"content":{"rendered":"\n

Extremely<\/strong> well positioned within the heart of Manchester\u2019s commercial district, the developer is looking to transform the existing tired and conventional office building into multi-purpose, private office space for small to medium businesses. Creating a modern, flexible and enjoyable atmosphere to work in.<\/p>\n\n\n\n

Having already<\/strong> successfully completed the same transformation on a similar build 22 St John Street, less than half a mile away, they certainly have the experience and expertise to recreate their earlier success.<\/p>\n\n\n\n

22 St John Street<\/strong> was started in Aug 22 and completed in June 23 both under budget and time. The property has attracted tenants rapidly due to the superbly created environment with all investors extremely happy with the result, their involvement and higher than predicted return on their investment.<\/p>\n\n\n\n

Barnett House<\/strong> is being acquired at considerably lower per Sqm than St Johns already giving greater profit margin for the finished build.<\/p>\n\n\n\n

The developer is seeking an equity investment of \u00a32,600,000 into the project. With an estimate of acquisition and build cost at \u00a39.89 million and end value standing at just over \u00a315 million.<\/p>\n\n\n\n

The term<\/strong> is a 12 month strip out and build, with a further 12-month term for full tenant occupation.<\/p>\n\n\n\n

The primary option to return funds is to sell at this point on a 50\/50 split with the developer. Returning full equity plus 101%<\/p>\n\n\n\n

However<\/strong>, if the majority of investors wish to hold or the market indicates a much lower valuation at this point, the property rental generation can come into play. Any exiting investors would be bought out by the developer and those wishing to remain. The property can be refinanced to clear the debt leaving the annual income of \u00a3340,000 to be split 50\/50 with the developer and the remaining investors who would then receive their share value proportion, of 50% of the income. Estimated at \u00a3170,00PA -\u00a314,236PCM.<\/p>\n\n\n\n

Amount <\/strong>\u00a32,600,000<\/p>\n\n\n\n

Minimum<\/strong> \u00a350,000<\/p>\n\n\n\n

Maximum<\/strong> \u00a32,600,000 <\/p>\n\n\n\n

Term<\/strong> 24 months<\/p>\n\n\n\n

Return <\/strong>101%<\/p>\n\n\n\n

Repayment Options <\/strong>Sale at point of full occupancy<\/p>\n","protected":false},"excerpt":{"rendered":"

Invest with our already proven Manchester developer The Satis Group. Barnett House purchased by the Group in June 24 is in Manchester's commercial district and look to transform the outdated office building into modern, multi-purpose office spaces for small to medium-sized businesses. After successfully completing a similar project at 22 St John Street (200m away) ahead of time and under budget, the developer is now acquiring Barnett House at a lower cost per square meter, offering a higher profit margin. They are seeking \u00a32.6 million in equity investment for the project, with a total estimated cost of \u00a39.89 million and an end value of over \u00a315 million. The project has a 12-month build phase followed by 12 months to achieve full tenant occupancy, with a primary option to sell and return equity plus a 101% profit on a 50\/50 split.<\/p>\n","protected":false},"featured_media":872,"parent":0,"menu_order":0,"template":"","completion_status":[5],"investment-category":[],"class_list":["post-869","property_investments","type-property_investments","status-publish","has-post-thumbnail","hentry","completion_status-live"],"acf":[],"_links":{"self":[{"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/property_investments\/869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/property_investments"}],"about":[{"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/types\/property_investments"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/media\/872"}],"wp:attachment":[{"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/media?parent=869"}],"wp:term":[{"taxonomy":"completion_status","embeddable":true,"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/completion_status?post=869"},{"taxonomy":"investment-category","embeddable":true,"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/investment-category?post=869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}