Manchester Offices

[VDB]

Originally Posted by Marksy_1

Thanks Nq - I reckon that could be the site

That proposal is only 150,000sqft, not 250,000sqft

Chogmook's photo looks good

[Marksy_1]

Originally Posted by VDB

That proposal is only 150,000sqft, not 250,000sqft

Chogmook's photo looks good

I read it as replacing the existing 150,000 with 250,000sq ft

The project involves the appraisal, design and construction of a highly significant complex expected to have a total usable area of approximately 250 000 sq ft net.

[nq]

The Overseas House brochure from 2011 quotes 131k sq ft of space, but hey, could have changed since then

http://www.bruntwood.co.uk/Sites/Bru...ochure.pdf.pdf

[Chogmook]

Originally Posted by VDB

That proposal is only 150,000sqft, not 250,000sqft

Chogmook's photo looks good

Astley & Byrom House is 150,000sqft, the replacement proposal is planned to be 250,000 sqft, so nq seems to be on the money!

[VDB]

Originally Posted by Chogmook

Astley & Byrom House is 150,000sqft, the replacement proposal is planned to be 250,000 sqft, so nq seems to be on the money!

Whoa now I'm confused! So is this the one that you posted the photo of on the corner of Deansgate & Quay St or Astley House?

[Marksy_1]

Originally Posted by VDB

Whoa now I'm confused! So is this the one that you posted the photo of on the corner of Deansgate & Quay St or Astley House?

No it looks like the site of the 250,000 sq ft proposal is the corner of Quay Street and Byrom Street - opposite the entrance of Spinningfields closest to Carluccios. which is pretty much where my source said it was..

[Priscilla QOTD]

Read it again:

Astley House & Byrom House, Quay Street, Manchester - architectural appointment

The project will be for the delivery of a predominantly office based scheme in the densely developed core of Manchester, opposite Spinningfields, replacing in due course two existing 1960’s office buildings, Astley House and Byrom House, totalling some 150 000 sq ft net.

The project involves the appraisal, design and construction of a highly significant complex expected to have a total usable area of approximately 250 000 sq ft net. Positive consultation with Manchester City Council and English Heritage has taken place to establish the broad parameters of the scheme and this will form the basis of a client brief. This will require development in accordance with the highest standards of contemporary, sustainable urban design, principally for commercial uses, but with a retail offering.

[highriser]

Astley and Byrom House are horrible , they wont be missed

Hope this is true

[js1000]

Doing some reading up, posted in the AJ last April. Interestingly, Barclays maintain an office at Astley & Byrom House. Secondly it was only renovated in 2009 so something must have turned the owners head to make them consider demolition and a new build.

Case of link the dots or are we reading into too much?

Architect needed for Manchester office redevelopment

26 April 2012

The West Midlands Metropolitan Authorities Pension Fund is on the hunt for architects to design a 23,000m² office development in Manchester

The scheme will replace the city’s Astley House and Byrom House office buildings which were constructed in the 1960s.

Architects with ‘experience and flair’ are sought to transform the existing strategic brief into a completed design.

The 60 month contract has an estimated value of £2 million with the architect required to liaise with planning consultants and English Heritage.

Relevant deadlines:
Expressions of interest to be received 8 May

http://www.architectsjournal.co.uk/c...629512.article

Anyway, if this development has legs we should be hearing about it in the spring. 8 months is long enough for a competition/architectural submission.

[man med]

http://england.unitedkingdom-tenders..._Wolverhampton

Very interesting project.. were looking at highest standards - look forward to hearing more on this.

[Lookin Up]

Originally Posted by Marksy_1

I heard a strong rumour in the Manchester construction circles that there is a 250,000 sq ft building in the planning for Quay Street (a staggered building in height

Almost shit myself there, read it as 'a staggering building in height'

[man med]

Lol marksy.

[retroscient]

Originally Posted by Lookin Up

Almost shit myself there, read it as 'a staggering building in height'

200m+ confirmed.

[jrb]

MEN.

Air Energi is taking 18,000 sq ft of space on a 10-year lease at Riverside on New Bailey Street and will move in next month.

The firm provides contractors to the oil and gas sectors around the world, including engineers, design and technical specialists and project managers. Customers include Shell, BP and Exxon Mobil. Air Energi has 35 offices worldwide and currently has its HQ at The Exchange, New York Street.

Its relocation is part of a major investment programme to grow the business following LGV Capital''s investment last October for a majority stake which provided and exit for Palatine Private Equity.

OBI Property advised Air Energi on its move and is managing the fit-out of its new premises.

[VDB]

Nothing other than HS2 seems like big news today, but here you go anyway

Riverside looking for North West deals
28th January 2013

US private equity firm Riverside is looking to ramp up its activity in the North West.

The firm, which has a global presence, opened an office in London last month and two senior executives have been in the region meeting intermediaries.

The investor is looking to conduct deals worth £30m-£80m and is particularly interested in taking majority stakes in companies that want to expand internationally.

Its last foray into the North West was Runcorn-based water treatment company Sentinel Performance Solutions which it sold to London-based Electra Partners for £43m in 2011.

Partner Trey Vincent told TheBusinessDesk.com: "We maintain a regular dialogue with investment banks and brokers to find out what opportunities there are and what trends they're seeing."

He added: "We're the only private equity firm that's international but still interested in small deals so we think we have an edge working with smaller companies that want to break into the US and Asia.

"We've had opportunities to scale up but we want to do what we do best which is zero in on small companies and help them grow bigger and better."

New York-headquartered Riverside, which is in the middle of investing its fourth fund, is looking across all sectors but is particularly interested in energy, software, consumer and healthcare.

It is keen on the English regions because "nobody's making anything in London," said Mr Vincent, who hasn't ruled out a regional office in Manchester.

Its current UK investments are Milton Keynes-based Tensator, which makes queueing cordons, and medical products firm Summit Medical Group in Gloucestershire.

[neil]

Major refurb for Manchester offices
29th January 2013

By James Graham - Deputy Editor, North West

THE new owners of two office buildings in Manchester city centre are about to embark on a multi-million pound refurbishment programme.

Dunedin Property and US private equity group Angelo Gordon bought Churchgate and Lee House, on the corner of Oxford Street and Great Bridgewater Street, from CBRE Global Investors for around £23m last year.

They have now appointed bluu, a London and Birmingham-based contractor to carry out a refurb of the 240,000 sq ft offices.

The two buildings are let to 12 tenants, including Greater Mancester Chamber, its sister company Manchester Solutions, Ricoh UK, Capita and the Legal Services Commission.

Anuj Mittal of Angelo Gordon said: "These buildings were an exciting acquisition for us, they form an integral part of our long term investment portfolio. Our decision to carry out extensive refurbishment reinforces our commitment to improving the offering of these landmark buildings.

"We are confident that bluu, which has an excellent reputation for producing first class business accommodation, will use its skills and expertise to help us realise our vision for the building. We have an excellent team, including our appointed agents CBRE and GVA, working to bring an exciting and competitive product to the market."

Alex Russell, associate director at CBRE said: "Last year’s take up was dominated by buildings quoting between £15 and £20/sq ft with occupiers recognising good quality refurbished product at a sensible price. When the works are completed in the spring, Churchgate and Lee House will offer exactly this with the added benefit of providing large and efficient floor plates catering perfectly for the demand that we expect to continue throughout 2013."

[neil]

Lettings at Manchester's Belvedere
30th January 2013

EXISTING tenants at the Belvedere building in Manchester have taken additional space.

Debt buying firm, Arrow Global, has doubled its space, taking the entire 10,000 sq ft sixth floor of the Booth Street building.

Corporate finance adviser Altium has moved from the sixth to the fifth floor, and agreed a 10-year lease on 4,431 sq ft. Property agent CBRE - the joint letting agent on the building with Savills - has taken an additional 450 sq ft.

Only a 5,260 sq ft suite on the ground floor is still free.

Alex Russell, associate director of CBRE, said: "This was a very complex transaction as it required simultaneous agreement from all three parties to ensure a successful outcome for all involved.

"We were delighted that we were able to successfully negotiate a deal, which suited everyone and is a testament to the exceptional offering of the building, reinforcing its position as one of the city’s prime office addresses.”

LSH acted for Altium while OBI represented Arrow Global.

[Charlesstreet]

Mike Ingall and his management team have taken control of Spinningfields developer Allied London Developments as part of a £45m deal.

The move could unlock another 400,000 sq ft of Manchester city centre office development.

Mr Ingall, chief executive of Allied London, has led a management buyout of Allied London’s holding company, Capital HoldCo.

It means the team now has control of the London-based developer responsible for the 4m sq ft Manchester city centre business district.

The deal sees Mr Ingall and other senior managers acquire the shares in Capital HoldCo that had been held by Mayfair-based property business Delancey.

Delancey acquired its stake in 2006. It since become involved in the development of the Co-op’s NOMA scheme near Victoria Station.

Capital HoldCo, which is registered in the British Virgin Islands, is understood to own assets worth £45m, including the Tower 12 site at Spinningfields which is currently under offer to CBRE Global Investors.

Following the management buyout, Allied London will be able to move ahead with building work on the remaining plots at Spinningfields.

The buyout of Capital HoldCo was financed with debt funding from the Royal Bank of Scotland and Pramerica.

As part of the deal, the Spinningfields Management Company is to be transformed into Capital Properties UK to provide services throughout the UK under Manchester-based managing director Mark Burgess.

Mr Ingall, said: “We will continue to own and manage the Manchester Spinningfields estate to maturity and expect to complete this development by the end of 2015, albeit most of the retail and leisure has already become a very popular new city centre destination.

“This transaction enables us to capitalise on our exemplary track record as a successful UK developer and build the business independently.”

Suzanne Avery, a director at Royal Bank of Scotland Real Estate, said: “We have worked with Mike and the Allied London management team for many years and are delighted to be supporting both them and a sponsor of Pramerica's quality with this acquisition.

"The UK market is core to our real estate finance business and we look forward to developing these relationships still further as the business continues the development of Spinningfields and expands its activities elsewhere.”

http://www.manchestereveningnews.co....-taken-1292350

[VDB]

.pdf found on Twitter regarding office-take up in Q4 2012, by officebroker.com

http://www.officebroker.com/Serviced...0Q4%202012.pdf

Central Manchester Overview Q4 12 vs Q4 11:

Demand for Office Space
- Enquiry levels decreased by 17% overall

Office Space Take-Up:
- The number of newly signed serviced office tenants (S.O.Ts) increased by 22% overall

Workstation Volumes:
- The average number of workstations (wks) per S.O.T decreased from 6.8 wks to 4 wks

Workstation Price:
- The average price per workstation increased from £176 to £184 per month

Commitment to Office Space:
The average licence length signed by new S.O.Ts decreased
from 9 months to 8 months

[Lookin Up]

Originally Posted by VDB

.pdf found on Twitter regarding office-take up in Q4 2012, by officebroker.com

http://www.officebroker.com/Serviced...0Q4%202012.pdf

Cheers for that Voldy
SOTs tend to be a good bellweather of activity in start-ups. Disappointing that it's down as these are (well in my opinion anyway) owned by the enterprising types that create the next few years' worth of jobs outside of retail and call centres.