Hines has secured an 80,000 sq ft office letting to law firm Clyde & Co at the Royal Exchange, Manchester.
Clyde & Co has agreed to lease 69,000 sq ft of new space in addition to extending its lease on the 11,000 sq ft it currently occupies.
In total, 121,000 sq ft of office space has undergone a major refurbishment. The space forms part of the Royal Exchange alongside the 700-seat theatre and 81,000 sq ft of retail and leisure space.
The development was acquired by Hines in November 2016 on behalf of Bayerische Versorgungskammer, Germany’s largest pension scheme group, as part of its €1.3bn European high street retail mandate.
The letting to Clyde & Co leaves just 14,000 sq ft of office space unoccupied, which Hines expects to lease imminently.
David Wynn, managing partner of Clyde & Co’s Manchester office, said: “Our Manchester office is an increasingly important part of Clyde & Co’s global network of nearly 50 offices worldwide. Expanding our presence and centralising our teams in this iconic central Manchester building will give us a modern office environment to operate in and support our continued growth in the city.”
Savills and Canning O’Neil advised Hines; Cushman & Wakefield acted for Clyde & Co.
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