It is expected that the cost of office space to rent in
Manchester could rise far beyond the rate of inflation if it continues at its current rate.
Property consultants, Savills, have released a statement claiming that the average cost of an office in Manchester has risen at twice the rate of inflation since 2011 and that it shows no sign of slowing down.
The serviced office provider will take the fifth and sixth floors at the Manchester building on a 15 year lease.
The serviced office provider i2 Offices has announced it has signed up to lease 15,500 sq ft of office space at Chancery Place in Manchester.
According to reports the firm will rent space on the fifth and sixth floors of the building on Brown Street on a 15 year lease. The letting is i2 Office’s first in the North West and takes the building’s occupancy up to just under 70%. (more…)
The group paid €25 million for Direct Line House in the city’s business district.
Deka Immobilien GmbH has purchased Direct Line House in Birmingham’s business district for €25 million according to reports out this week. The group purchased the property from a fund managed by Signature Fund Management Limited.
Situated at 10 Livery Street, the office property provides more than 63,000 sq ft of Grade A office space in a prime West Midlands location. Completed in 2001, the property is currently fully let to insurance provider Direct Line for another 10 years. (more…)
Property consultancy group EC Harris have signed a lease on Three Piccadilly Place in Manchester.
The Piccadilly Place development is owned by the Carlyle Group and developer Argent and totals 675,000 sq ft. Three Piccadilly Place is now 60% filled, other occupiers include NHS North West – who agreed on 55,000 sq ft at the end of last year and the Insolvency Service. (more…)
The Kings Cross Central Limited Partnership has secured a deal to build a 120,000 square foot HQ for Camden Council at its £2 billion N1 development.
Last week the council agreed a memorandum of understanding to buy a purpose-built HQ from KCCLP at King’s Cross Central. The local authority plan to move to the building, which was designed by Bennetts Associates Architects, in 2013. The council have refused to reveal the terms of the acquisition but have said that it will take a long leasehold at a capital premium, with a peppercorn rent. The new building will hold civic offices, a swimming pool, a fitness centre, a customer access centre and an improved St Pancras Library. (more…)