Legal & General UK Property Fund is looking for a buyer for the retail and leisure development at 19–31 Piccadilly in Manchester.
The asset includes a Travelodge hotel as well as a number of F&B outlets.
The property was sold for £23 million in 2014 to L&G.
What they said
AN L&G spokesperson: “This sale forms part of the transition to a hybrid investment strategy for the L&G UK Property Fund. The strategy continues to provide access to direct UK property, with assets in strong locations across a range of sectors with structural growth potential – such as industrial and self-storage, operational hotels, and build to rent residential.”