The asking price for Manchester’s One Tony Wilson Place, home to the HQ of automotive publisher Auto Trader, has been lowered by over £20m.
The building in First Street was renamed after Tony Wilson, the founder of Factory Records and the Hacienda nightclub, which was situated just over the road, last year having originally been known as Number One First Street.
It originally went on the market priced at £73m last May, but estate agent JLL has now listed the property at the new price of £52.5m. However, after a year on the market the asking price for the newly-renamed 1 Tony Wilson Place has been lowered to £52.5m.
JLL’s listing describes the 174,951 sq ft building as having “a very low capital value of only £300 per sq ft, versus prime regional office capital values of £800+ psf achieved next door,” and lists Jacobs, Ford Credit, and Amaze among Auto Traders neighbours.
Current owner Abrdn acquired the building in 2016, in a deal that was reported to be worth around £66m.