Swinton Insurance is in advanced talks to take 60,000 sq ft at Ask Real Estate’s 101 Embankment, Manchester, in what would be the first letting for the speculatively built tower.
Swinton instructed WHR earlier this year to hunt for space for a new contact centre.
The Department for Work and Pensions has also shortlisted the 165,000 sq ft building for its 70,000 sq ft requirement, alongside Trinistar Manchester’s Royal Exchange.
Quoting rents at 101 Embankment, which topped out in March, are £28.50 per sq ft. Space was expected to be in high demand owing to the shortage of grade-A office space in the city. However, a total of 1.1m sq ft was under construction in the city at the close of Q1 2016, of which 650,000 sq ft was speculative, according to Knight Frank.
Ask Real Estate, with joint venture partners Carillion and Tristan Capital Partners, are now preparing to submit plans to build another 10-storey office tower at 100 Embankment.
CBRE is acting for Ask.
To send feedback, e-mail Louisa.Clarence-Smith@estatesgazette.com or tweet @LouisaClarence or @estatesgazette
