Lothbury Investment Management, the boutique UK real estate investment manager, has completed the letting on behalf of Lothbury Property Trust of two suites at Four Hardman Street in Spinningfields, Manchester at £34 per sq ft.
SYSTRA, a leading engineering and consulting company specialising in public transport and mobility solutions is taking 5,880 sq ft of office space on the building’s fifth floor in September on a 10-year lease with a 5-year break, relocating 60 staff from their Piccadilly Gardens City Tower office.
This follows the 5-year letting of a 3,754 sq ft suite on part of the sixth floor to HGF, one of Europe’s leading intellectual property firms, in May this year.
Four Hardman Street is part of the Spinningfields Estate which extends to approximately 4.5 million sq ft and is home to over 170 commercial organisations including RBS, PWC and Barclays and over 1,000 office workers. There are over 400 residential apartments together with 50 shops, bars and restaurants.
Alastair Dewar, asset manager at Lothbury Investment Management, said: “We are delighted to have completed these two lettings to tenants with a first-class pedigree. Four Hardman Street is a landmark office building within Spinningfields and these lettings reflect a buoyant market and the revival of demand for Grade A office space in the region.”
Dan Margolis, surveyor in the National Offices team at Colliers, who acted jointly with Savills for Lothbury, commented: “Four Hardman Street is a striking 10 storey office building offering Grade A accommodation in the heart of Spinningfields, an area which has evolved to become one of Europe’s most successful mixed-use real estate developments. Following its recent state-of-the-art refurbishment, the building is a target for companies seeking immediately available space and is attracting workers back into the office with its striking and high-quality accommodation. The two recent lettings in this building are testament to confidence in the Northwest office market.”
Nick Salt, CEO at SYSTRA added: “The new office space in Manchester underpins our commitment to providing a flexible working approach for colleagues which incorporates office environments that inspire collaboration and in-person teamwork. The open plan office space is full of natural light with modern facilities including bike storage, showers, space dedicated to breakout and wellbeing, and is in a vibrant part of the city with access to public transport and an incredible array of local amenities.”
Lothbury was represented by Colliers and Savills. JSF Property represented SYSTRA. HGR was represented by Gerald Eve.
