BT is in talks with Argent for 11,150 sq m (120,000 sq ft) of its 14,860 sq m (160,000 sq ft) Piccadilly Gardens scheme in central Manchester. The prelet is expected to set a benchmark rent for the city centre office market of £25 per sq ft (£270 per sq m).
Argent, which last week won planning consent for the scheme, is the latest company to attempt to secure this requirement. BT has been searching for a suitable new home in Manchester for four years
BT’s requirement, part of its Workspace 2000 initiative has shrunk over this period from 200,000 sq ft (18,600 sq m). In the course of its search, BT satisfied a 115,000 sq ft (10,680 sq m) requirement at the former British Council offices, Grand Island. The outstanding requirement would involve a relocation from its existing 17,650 sq m (190,000 sq ft) London Road offices.
In June, BT’s negotiations for Henderson’s 117,000 sq ft (10,870 sq m) Grand Island scheme in central Manchester collapsed.
BT is being advised by DTZ Debenham Tie Leung. GVA Grimley is letting agent for the scheme
EGi News 12/10/00
