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A private jet facility at Manchester Airport has been brought to market by Knight Frank, on behalf of Columbia Threadneedle, for £9.5m – representing a net initial yield of 6%.
Signature Aviation, Manchester Airport
Signature Aviation Private Jet Facility handles on average 10 flights a day. It is the only private jet hangar facility at Manchester Airport with direct access to the runway and the capability for baggage handling, immigration and luxury transfers.
The hangar, totalling 33,755 sq ft plus 20,667 sq ft of adjoining land, is let to RSS Jet Centre – a subsidiary of Signature Aviation – on two co-terminous leases with an unexpired term of 19.3 years subject to five-yearly upward-only RPI reviews.
Holly McLeman, senior surveyor at Knight Frank, Manchester, said: “The sale of this facility and an adjoining apron of land represents a rare investment opportunity to secure a property with airside access to one of the world’s leading airports.
“The property is a critical component in the North’s private aviation industry and its unique offering underpins the value of the asset as well as the land it sits upon.”
The property is currently owned by Columbia Threadneedle, which acquired the asset in 2020.
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