Beehive Mill Jersey Street, Ancoats, Manchester, M4 6JG

For Sale Prime residential development opportunity

Enter Beehive Mill For Sale Jersey Street, Ancoats, Manchester, M4 6JG Prime residential development opportunity

Summary

- An exciting freehold development opportunity in the heart of Ancoats, Manchester - Highly desirable location close to the City Centre and vibrant Northern Quarter - Iconic Grade II* Listed former cotton mill and warehouse building extending to a Gross Internal Area of 4,787 sq m (51,527 sq ft) - The site covers an area of 0.42 acres, reflecting a low site coverage of circa 50% - The property benefits from short term commercial income with an opportunity to seek vacant possession in August 2017 - Positive pre-application discussions with Manchester City Council for conversion to residential

Summary Manchester Location Regeneration Property The Opportunity Tenancy schedule Further information Beehive Mill For Sale Jersey Street, Ancoats, Manchester, M4 6JG Prime residential development opportunity

Beehive Mill is a Grade II* Listed building and is one of a group of internationally, historically significant cotton spinning mills in Ancoats.

Location

Beehive Mill is located in Ancoats, which borders one of C Manchester City centres most vibrant villages, the Northern Quarter. Historically Ancoats was at the very heart of the D E Industrial Revolution and the area is typified by historic mills, warehouses and factory buildings. Today, thanks to significant B 6 inward investment and the area’s cultural authenticity, Ancoats 9 4 is one of Manchester’s most interesting neighborhoods, to live, 1 2 5 work, play and invest. 3 8 The property is approximately 300m north of Great Ancoats 10 Street and within walking distance of the City centre. New Islington tram station is 800m from the Property and provides B 7 excellent connectivity to key Manchester City centre districts, the airport and commuter towns such as Altrincham and East Didsbury.

The site fronts Jersey Street with a return frontage along A Radium Street. Surrounding the site is a combination of residential, retail and leisure uses creating a bohemian neighbourhood at the doorstep to the City centre. A

F –– Ancoats –– Northern Quarter –– Leisure 1 Rosylee Tea Rooms –– Amenity 2 PLY A New Islington Free School 3 Pie & Ale B Piccadilly Station 4 Evelyn’s Cafe 5 Evuna Beehive –– Retail 6 Solita A Central Retail Park 7 Bem Brasil Mill B M&S Outlet 8 Tib Street Tavern C Primark 9 Shack Bar & Grill D Debenhams 10 Pure Gym E The Manchester Arndale F Wing Yip

Ancoats Regeneration

Beehive Mill is located within the Ancoats Conservation Area, which is one of Manchester’s most significant historical A N quarters, due to the concentration of industrial mills and factory C O buildings dating from the late 19th century. A T S C O The property is located within the Neighbourhood Development N S ER Framework for Ancoats and New Islington. The framework V A encourages the restoration of buildings of historical AD T O I R O significance alongside sympathetic contemporary new build M N A schemes. R OLDHA R E ADI A UM This is evidenced by recent schemes that have been built in STREE B E this area, namely; N G T A L S

T R T 1 NQ4 Apartments residential 9 41 Loom Street residential E EE E TR T L S VA 2 Ice Plant Building residential 10 27 Gun Street residential NA

9 3 Fairbairn Building residential 11 Connect House residential 4 McConnell Building residential 12 Waulk Mill commercial 5 Paragon Mill residential 13 MM2 Apartments residential D 6 Kennedy Building residential 14 The Space Building commercial 11 1 7 Nuovo residential 15 Old Sub Station commercial 8 Royal Mills residential 16 Glass Flint Works commercial A 2 16 A major driver for the continued repositioning of Ancoats and ET RE New Islington, is Manchester Life, which is a £1bn joint venture Y ST SE between Manchester City Council and the Abu Dhabi United B ER J C 12 3 6 Group set up since 2014. E 5 G 15 R EA Phase 1 of this regeneration is set out below: T 10 4 AN 7 C O A A Manchester Life TS 8 STRE 14 Jersey Street 158 units new build 13 B Manchester Life ET Hood Street 31 units new build N C Manchester Life Murray Mills 108 units conversion of listed building D Manchester Life Blossom Street 199 units new build E Manchester Life New Union Street 302 units new build

Description

Beehive Mill was originally formed of three parts: the Cotton Mill, the Warehouse and the Spindle Manufacturing Building.

The buildings date from 1824 and are wonderful examples of late 19th century industrial architecture adorning original cast iron columns, timber beams, exposed brickwork, wooden floor boards and stone flagged floors.

The buildings are situated on an island site of 0.42 acres. They occupy a low site coverage of circa 50% and comprise of 51,527 sq ft (4,787 sq m) of Gross Internal area. Accommodation is arranged over ground and five upper floors. Typical floorplates are expansive at circa 8,500 sq ft GIA and benefit from good floor to ceiling height.

The ground and first floors are currently home to Sankey’s Nightclub, one of Manchester’s most famous clubbing venues. The second to fourth floors are offices offering suites from 150 - 1,000 sq ft, whilst the fifth floor provides a single open plan office nestled within the cast iron roof rib structure.

The building provides the opportunity for continued commercial occupation, or high quality loft style apartments (subject to planning).

The Opportunity Potential Schemes

Following a positive pre-application meeting with Manchester City Council, it is clear there is an opportunity to convert the existing mill into residential accommodation Option 1 and add a new residential building to the north of the mill, subject to gaining the necessary consents. Apartment Types GIA Beehive GIA Annexe NSA

Floor Studio 1 Bed 2 Bed Duplex Total Sq m Sq ft Sq m Sq ft Sq m Sq ft

Ground 0 0 0 6 6 720 7,750 283 3,046 620 6,673

First 2 3 4 0 9 805 8,665 326 3,509 837 9,009 Mews/ New Build Annexe Courtyard Second 3 5 7 0 15 814 8,762 326 3,509 837 9,009

Third 3 5 7 0 15 815 8,772 326 3,509 837 9,009

Fourth 1 3 4 7 15 823 8,859 326 3,509 837 9,009

Fifth 1 3 4 0 8 811 8,729 326 3,509 806 8,675

Total 10 19 26 13 68 4,787 51,527 1,913 20,591 4,774 51,384

Beehive Mill Commercial floorspace within Beehive and Annexe - 328 sq m/3,530 sq ft (included within Total GIA figure) Option 2

GIA Beehive GIA Annexe NSA Floor Super Apartment Sq m Sq ft Sq m Sq ft Sq m Sq ft

Residential Ground 0 720 7,750 283 3,046 601 6,469 Entrance First 3 805 8,665 326 3,509 977 10,516 Radium St Second 3 814 8,762 326 3,509 977 10,516 Pedestrian route Third 3 815 8,772 326 3,509 977 10,516 to courtyard/ amenity Fourth 3 823 8,859 326 3,509 977 10,516 Je rs ey Fifth 3 811 8,729 326 3,509 917 9,870 St Total 15 4,787 51,527 1,913 20,591 5,426 58,403 Residential Entrance Commercial floorspace within Beehive and Annexe - 598 sq m/6,436 sq ft (included within Total GIA figure) Commercial Pedestrian Frontage route to courtyard/ *Areas are approximate only and are subject to detailed surveys, further verification, design amenity development to ensure incorporation of statutory regulations and client requirements.

In its heyday the walls of Beehive Mill rang with the sound of cotton workers clogs and spinning machines. More recently, the building has played a key role in Manchester’s musical history as the home to Sankey’s Nightclub. Tomorrow offers another opportunity for re-invention.

Tenancy schedule

Unit Floor Tenant Area Rent per annum Rent psf Lease start Lease expiry Comments

GA - Cafe Ground Cafe Cotton Ltd 268 £6,500 £24.25 1-Jun-14 31-May-17 Rent deposit, £541.67. Ground & 1st Floor Ground & First Sankeys Manchester Ltd 11,105 £144,000 £12.97 See comments Currently occupying by way of tenancy at will dated 17 June 2016. Rehearsal Room 1Ai First Sonia Yassa Gergis 252 £3,960 £15.71 3-Feb-14 2-Feb-16 Rent deposit, £330. Tenant holding over. Rehearsal Room 1Aii First Joseph Peter Jackson 189 £3,800 £20.11 1-Apr-16 31-Mar-17 - Rehearsal Room 1Aiii First Jason Herd 230 £3,000 £13.04 1-Apr-14 31-Mar-15 Rent deposit, £250. Tenant holding over. Rent deposit, £375. Rehearsal Room 1Aiv First Paul Knowles 243 £3,750 £15.43 1-Oct-16 30-Sep-17 L/L Break - any time after 31 August 2017 on 1 months’ written notice. Rehearsal Room 2Aii Second Alphabet Design Agency Limited 347 £6,072.50 £17.50 26-May-16 25-May-17 Rent deposit £607.20 (inc VAT). Rehearsal Room 2Aiii Second Paul Knowles 483 £7,000 £14.49 4-Feb-15 3-Feb-17 Rent deposit, £700. Rent - £17,244 for Year 1. £19,160 for remaining 6 months. Suite 2D Second Assent Building Control Limited 958 £17,244 £18.00 9-Feb-16 8-Aug-17 2 parking spaces. Suite 2E Second Julie Perry Events Limited 336 £6,600 £19.64 16-Feb-15 15-Feb-17 Rent deposit, £660 (inc VAT). Suite 2F Second Alex Morgan 199 £2,400 £12.06 1-Jan-14 31-Dec-14 Rent Deposit, £200. Tenant holding over. 1 parking space. Rent deposit, £824 Suite 2Gi & ii Second Planks Clothing Limited 413 £8,240 £19.95 19-Sep-16 19-Sep-19 T Break - any time after 11 September 2017 on 1 months’ written notice. L/L Break - any time after 31 August 2017 on 1 months’ written notice. Suite 2Giii Second Simon Crompton & Kevin Carroll 407 £4,950 £12.16 2-Jun-11 - Rent deposit, £495. Tenancy at Will (mutual 1 month rolling break). Suite 2J Second Mark Gavin 333 £5,940 £17.84 1-Apr-14 31-Mar-15 Rent deposit, £495. Tenant holding over Suite 3F Third The Social PR 528 £10,032 £19.00 3-May-16 2-May-17 Rent deposit, £998.40 (inc VAT). Rent deposit, £750. Suite 3G Third Standby Productions Ltd 520 £9,000 £17.31 1-May-14 31-May-17 T Break - 31 May 2015 and 31 May 2016 on 3 months’ written notice Suite 3H & 3K Third Manchester Food & Drink Festival Ltd 509 £7,935 £15.59 21-Jan-14 20-Jan-15 Rent deposit, £661.25. Tenant holding over Rent deposit, £399.60 (inc VAT). Suite 3N Third Narrative Studio Limited 196 £4,000 £20.41 26-Oct-15 25-Oct-18 T Break - anytime after 5 Nov 2016 on 3 months’ notice. L Break - anytime after 31 Aug 2017 on 2 months’ notice. Suite 4D Fourth Process Moving Image Limited 521 £8,520 £16.35 2-Apr-16 1-Apr-17 - Rent deposit, £1,750 (inc VAT). Suite 4G Fourth SMC Coach Hire Limited 1,359 £21,000 £15.45 8-Jul-16 7-Jul-19 T Break - anytime after 8 Jul 2017 on 3 months’ notice. L Break - anytime after 8 Jul 2017 on 3 months’ notice. Rent deposit, £495 Suite 4J & 4K Fourth MCR:Music Ltd 514 £9,180 £17.86 13-Aug-14 12-Aug-16 Tenant holding over. Rent - 1st Year £8,640, 2nd Year £9,180. Fixed uplift to £65,000 pa yr 3. Suite 5B-5F Fifth Distract Space Ltd 5,705 £65,000 £11.39 1-Sep-14 31-Aug-17 T Break - 29 Februrary 2016 on 3 months’ written notice. 1 parking space. 1 Car Space Parking Jason Herd N/A £750 N/A 1-Sep-16 31-Aug-17 - 1 Car Space Parking Standby Productions Ltd N/A £750 N/A 8-Aug-16 7-Aug-17 - Vacant suites over second to fifth floors. Second - Fifth Vacant 13,281 - - - - No rates payable on vacant space as a listed building.

Totals 38,896 £359,624

Technical EPC information Available on request.

Planning, heritage and architectural documentation has been prepared by the Vendor and is available through a secure Proposal website. Please confirm your interest via email to Ed Rooney or Ned Brooks We are instructed to seek unconditional offers for the Freehold interest subject to contract and exclusive of VAT. VAT

The property has been elected for VAT purposes. It is anticipated that the sale will be treated as a Transfer of Going Concern (TOGC)

Viewings

Viewings are strictly by appointment. Please contact Ned Brooks to arrange a viewing. Architectural design and imagery by:

Ed Rooney Ned Brooks t: 0161 602 8211 t: 0161 277 7218 m: 07807 999 801 m: 07812 249 394 [email protected] [email protected]

Savills, their clients and any joint agents, give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and produced by Richar Barber & Co. 0161 833 0555. November 2016.

Summary Manchester Location Regeneration Property The Opportunity Tenancy schedule Further information