Key retail location, anchored by piano showroom, on the market.

Fabrix has kicked off the sale of four prominent retail units in the centre of Manchester, including piano maker C Bechstein’s flagship showroom.

The London-headquartered investor has instructed Clifton and Metis Real Estate to market the four units, which include a total of 14,436 sq ft of retail space.

The largest is let to C Bechstein, which opened its doors last year. The company operates a showroom from the site spread across nearly 9,000 sq ft with a lease running until 2036.

Two further units are let to vegan burger company the Vurger Co, and Papa Roti on 15- and 10-year terms respectively. A vacant unit of 1,700 sq ft is also included with a 12-month rent guarantee from the vendor.

The units sit underneath an apartment building developed by Fred Done’s Salboy, on a prominent site on Tib Street in the city’s Northern Quarter, and opposite Affleck’s Palace.

Overall, the units have a passing rent averaging £22/sq ft, with 42% CPI indexed income and a WAULT to break of 8.7 years. The asset currently generates £319,861 per year in rent.

Clifton and Metis have been instructed to field offers of £3.95m for the four units, reflecting a net initial yield of 7.6% and a capital value of £274/sq ft.

Demand for similar retail investments remains strong in Manchester, with several changing hands over the last few months. Among these is a building let to Five Guys in Piccadilly, which was sold by Thackeray Group last month, after being acquired in 2021.