Hewlett-Packard is in talks to become the first major occupier at Bruntwood and Select Property’s 1.2m sq ft Circle Square development in Manchester.
The tech giant is closing in on a deal to take office space at Circle Square on a flexible basis, which enables it to consider longer-term options in the future.
It is understood HP has yet to agree on the amount of space it will need at Circle Square, but a potential deal will likely resemble a WeWork-style offer in which HP will agree to take a number of desks without locking itself into a long-term lease.
HP has been looking for space in Manchester on and off for several years, with requirements understood to have ranged from 15,000 sq ft to 100,000 sq ft. It currently has four offices in the UK, in Bracknell, London, Warrington and Erskine in Scotland.
Like MoneySuperMarket, which earlier this year took 130 desks at WeWork’s offices in One St Peter’s Square, HP has the opportunity to make a soft landing in the city, where immediately available prime office space is in short supply.
Regardless of size, if completed, the deal would be a welcome boost for the development. Located on the former BBC site on Oxford Road, Circle Square is one of the largest mixed-use development projects in Manchester, but it does not yet have a major occupier attached to it.
Plans include 1.2m sq ft of commercial space, of which more than 400,000 sq ft is scheduled to complete by 2020. Targeting science and technology occupiers, Circle Square will include co-working offices and a tech incubator space. Securing HP as a tenant would bolster the site’s image as tech-oriented project and help attract start-ups that want to work near industry veterans.
JLL is acting for Bruntwood. CBRE is acting for HP.
All parties declined to comment.
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