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News Release

Manchester

LaSalle Investment Management completes £20.1 million sale of The Circus in Manchester

Advised by Jones Lang LaSalle


Manchester, 30th August 2011 – The Circus, a prime city centre hotel and leisure investment on the corner of Oxford Street and Portland Street in Manchester, has been sold by property consultants Jones Lang LaSalle and Cortex on behalf of clients of LaSalle Investment Management.

The property, which consists of a 228 bedroom Premier Inn Hotel and ground floor retail/leisure units and casino, was purchased by Circus Invest for £20.1 million which reflects a net initial yield of 6.19%.

Developed in 2001, partially behind an attractive listed façade, and extending to approximately 140,482 sq ft the scheme is let to Whitbread Group, JD Wetherspoons, Boots the Chemist, Genting Casinos and Barracuda Pub Company and produces a total of income of £1,316, 424 per annum.
Blandford Goldsmith represented the purchaser.