Archive: Oct 2018
-
Manchester City Centre building 26 Cross Street fully let
OBI announced the historic 21,500 sq ft 26 Cross Street is now fully let, following on from OBI leasing the final office suite of 1,351 sq ft to Bank of Ireland.
Located in the St Ann’s conversation area, the Grade A boutique office building provides contemporary work space with high level specification including air-conditioning, fully accessible raised floors and shower facilities to each floor.
OBI is sole leasing agent on behalf of owner Quay Estate Co and advised them earlier this year on the purchase of the building for £11.5 million representing a yield of 5.5%.
Following Quay Estate Co’s acquisition of 26 Cross Street, OBI has concluded four new lettings and has increased the headline rent from £22.50 per sq ft up to the final letting of £32.00 per sq ft.
OBI has secured four new deals including Republic of Media moving from its existing office into a full floor, and three new tenants; Bank of Ireland, Walker Smith Global and GDP Funding.
Debbie Meredith, Transactions and Asset Management, OBI, said: “It is great to be able to announce 26 Cross is fully let and we are pleased to welcome further new tenants into the building, increase the rents and add real value to the building. It is testament to what a great space 26 Cross Street is, with its Grade A specification embracing the original character of the building and combined with its contemporary finishes only adds to its success. The building has continued to attract high quality occupiers from a variety of sectors.”
Other occupants at the building are: Closeview Ltd, Worldwide Tickets, Mayoral UK Ltd, Tosca, Fund Asset Management Ltd, 3D Reid, Henry Boot Developments, Stowe Family Law LLP, Workr Group, GDP Funding and Sainsburys retail who occupy the part ground floor.
-
ADVAM in move to Fairbairn Buildings
OBI announced leading world payment solutions business ADVAM has acquired the 3,035 sq ft first floor of the Fairbairn Buildings, 70-72 Sackville Street, Manchester on a ten year lease.
ADVAM, which also has teams and offices in Australia and New Zealand serving its global client base in the e-commerce, car parking, airport, shopping centres and self service sectors, is relocating its Manchester office from Jutland House in the Northern Quarter.
ADVAM was attracted to the strong character of the recently refurbished Fairbairn Buildings, which feature restored original timber beams, cast iron columns, exposed original brickwork paired with modern industrial lighting and generous windows providing lots of natural light.
OBI represented ADVAM on its relocation, and is designing and project managing the fit-out for the new work space.
Graham Shopland, Operations Director, ADVAM said: “We are delighted to be moving to the Fairbairn Buildings. We love the period features and loft style feel of the space and we are looking forward to moving into the new premises in November”.
Andrew Cowell, transactions and asset management, OBI said: “It has been great to work with ADVAM on this relocation and Fairbairn Building’s offers great character space for their business. Our work place design team has created a workspace that will provide them with different types of working, allow their teams to collaborate and work closely together to be successful and I am looking forward to seeing the completed fit out.”
St Bride’s Cities LLP is owner of Fairbairn Buildings and was represented by joint leasing agents Cushman & Wakefield and Edwards & Co.
This news story was featured in The Business Desk and Insider Media.
-
Landmark Space commits to Chancery Place, Manchester
OBI announced serviced office provider Landmark Space has renewed its commitment to Chancery Place, 50 Brown Street, by agreeing a new ten year lease on the 7,792 sq ft tenth floor.
Landmark Space also operates on the fifth and sixth floors of the building, marking its total occupancy at 22,500 sq ft in this well-known building in the heart of the city core. Landmark Space provides a range of serviced office suites, desks and meeting spaces at its business centres across the UK.
John Spencer, chief executive, Landmark Space said: “We have been operating in Chancery Place for the last seven years and it has proved to be a very successful location for us. Manchester has a thriving entrepreneurial business community and we are pleased to be able to support its growth through offering flexible space at our business centres.”
Building landlord NFU Mutual was represented by OBI. Andrew Cowell, transactions and asset management, OBI said: “It is great news to confirm Landmark Space’s commitment to the building and it shows Chancery Place remains one of the best buildings in the city. There continues to be strong occupier demand for this quality of space in Manchester’s core and this is great space within Chancery Place for Landmark to offer to its clients.”
Tom Foley, asset manager, NFU Mutual said: “Chancery Place is a fantastic building and this letting further enforces its standing as a premium asset in the Manchester office market. The letting is a real testament for the building moving forward and I am delighted to secure a high calibre tenant such as Landmark Space for an extended term in central Manchester.
This news story was featured in The Business Desk and Insider Media.
-
G2V signs for The Chancery, Manchester
OBI announced recruitment group G2V has acquired half of the sixth floor (4,520 sq ft) in The Chancery at Spring Gardens on a five year lease. The deal brings G2V’s two Manchester city centre operations together under one roof for the first time.
G2 Recruitment Solutions, will move from Colwyn Chambers on York Street. Vivid Resourcing will move from 1 St Peter’s Square. The two businesses specialise in recruitment across IT, engineering, life sciences, energy and the public sector.
The move brings together both businesses and is part of a wider strategy to create a central Manchester hub for the business. G2V is head quartered in London and also has offices in Bristol, Birmingham, Glasgow, Amsterdam, Frankfurt, Brussels, Los Angeles, Miami, and Houston. It employs 240 people world-wide.
Ryan Morrow, operations director, G2V Group said: “Chancery is an exceptional building, right in the heart of the city and it is important as we bring our two operations together we have a space which reflects where our business is going.”
OBI represented G2V on the deal. Andrew Cowell, transactions and asset management, OBI said: “G2V is a hugely successful recruitment business and it makes sense for them to move into The Chancery to drive efficiencies, invest in their working environment and give them a single, impressive presence in the heart of the city.”
Knight Frank represented landlord PATRIZIA. Luke Lebrun, asset manager, PATRIZIA said: “It is great to welcome G2V to Chancery. Since we completed the refurbishment of building we’ve seen a lot of interest in the space from a range of occupiers in different sectors. G2V will join Atadius Credit Insurance, Sanderson Weatherall, Korn Ferry, Duff & Phelps and Yorkshire Bank.”
This news story was featured in Insider Media.