Swedish bank Handelsbanken is nearing a deal to set up a new Manchester office at AEW Europe’s 101 Barbirolli Square.
The bank is in exclusive talks to take circa 30,000 sq ft at the building, which was comprehensively refurbished last year to provide 83,743 sq ft of offices.
The deal would represent the first letting at the office block, which was formerly PwC’s Manchester headquarters. Quoting rents are £30 per sq ft.
Handelsbanken currently has a 14,318 sq ft Manchester office at MAG Property’s 4M building at Airport City, where it has been located since 2008, and where it doubled its take-up in 2012. The bank first started operating in the UK in 1982 and now has more than 200 branches across the country.
AEW Europe acquired the building from Aberdeen Asset Management in 2015 for £31.7m – a 6.4% yield.
Savills and OBI Property are joint letting agents on 101 Barbirolli Square; Avison Young is advising Handelsbanken.
All parties declined to comment.
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