Chesterton has cut its Manchester office space back by more than half.
The agent has relocated from its 1,320 sq m (14,200 sq ft) offices at Ropemaker’s 201 Deansgate, to far smaller premises – 557 sq m (6,000 sq ft), at 1 St James’s Square.
Chesterton’s Rupert Barron said: “Around 18 months ago we lost a significant number of people from the Cyril Sweet buyout. But our core staff levels have increased. By streamlining our operation, planning space cleverly and changing working practices, we’ve saved over 25% of space.”
The off-market deal means Chesterton will take a 10-year sub lease from legal & general at St James’s Squae at a quoting rent of £172 per sq m (£16 per sq ft).
The company is also subletting its former offices on the first floor of 201 Deansgate to stockbroker TD Waterhouse at a rent of £215.30 per sq m (£20 per sq ft).
YHA Adventure Shops is taking a 446 sq m (4,800 sq ft) retail unit on the ground floor of 201 Deansgate on a stepped rental starting at £60,000 pa and equating to £80,000 pa.
EGi News 07/02/00
