Trowers & Hamlins to move into 55 Princess Street
Our client, OBI Property announced UK top-50 law firm Trowers & Hamlins is to move into two floors, totalling 17,271 sq ft, at 55 Princess Street, Manchester city centre. The firm has taken a ten-year lease, with a break at year five.
Trowers & Hamlins plans to move its 70-strong Manchester team into 55 Princess Street from Heron House on Albert Square in May 2015. Taking the first (8,279 sq ft) and second (8,992 sq ft) floors, the international law firm is moving to accommodate the expansion of its Manchester operations.
Mike Gaskell, managing partner, Trowers & Hamlins Manchester office, said: “The firm has made – and continues to make – significant investments to grow our team in the North West, and as a result, we needed to find larger premises. We were impressed with the quality of the refurbishment and, in particular, the new reception and common areas of 55 Princess Street. The offices provide an ideal location and environment for our staff and clients, and we are very much looking forward to settling in.”
Jonathan Lawes, Cube Real Estate who asset manages the property on behalf of the owners, said: “Through the refurbishment of the reception, common areas and workspace at 55 Princess Street and by implementing a forward thinking marketing programme we have successfully repositioned the building as one of the most desirable offices within Manchester city centre. To attract an occupier of the stature of Trowers & Hamlins endorses the quality of the product which is on offer and we expect further transactions on the remaining vacant floors to follow shortly”
Richard Lace, Lead office consultant, OBI Property, said: “55 Princess Street is situated next to St Peters Square in one of the most desirable areas of the city centre. The top floor penthouse, extending to 6,202 sq ft, offers stunning views across Manchester and benefits from an amazing roof terrace making it one of the finest suites currently available in the city. Along with the vacant 3rd floor space, we can accommodate requirements of up to 15,000 sq ft.”
David Porter, Partner, Knight Frank, added “After an extensive search our client is delighted with the end result.”
OBI Property acted on behalf of the building landlord Benson Elliot on the deal. Trowers & Hamlins was represented by Knight Frank. JLL are joint leasing agents with OBI.