UK: A 15,580 square foot historic warehouse on Chorlton Street in Manchester is to become a serviced apartment scheme.
The four-storey building at 40 Chorlton Street was bought by Cringle Corporation for £2.3 million in April this year. It was formerly home to Mash & Air restaurant and Jongleurs Comedy Club.
The specialist markets team at CBRE has been instructed to secure an operator for the scheme, with the building due to undergo a full refurbishment over the course of the next year.
The property can be extended to include a fifth storey, taking the total size to 21,245 square feet, with the capacity to include up to 40 serviced apartments.
Nick Huddleston, senior surveyor in CBRE’s north-west specialist markets team, said: “Serviced apartments have become a popular alternative to hotels in the last few years – particularly in cosmopolitan cities such as Manchester. Manchester has really strengthened its standing as one of the country’s most popular leisure destinations boasting several world-class music venues and numerous annual events that pull significant numbers of people into the city.”
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