Accountant KPMG has confirmed it is in advanced negotiations to take a 65,000 sq ft pre-let at Argent and the Greater Manchester Property Venture Fund’s proposed One St Peter’s Square scheme in Manchester.
The deal means Argent/GMPVF will move closer to beginning construction of the 270,000 sq ft office development, although Argent declined to comment at this stage.
The Glenn Howells Architects-designed One St Peter’s Square is a £120m development on the site of the 1960s-built Elisabeth House in Manchester city centre.
KPMG instructed Knight Frank last June to find it up to 70,000 sq ft of new office space. It currently occupies about 60,000 sq ft on John Dalton Street in central Manchester, at which it has a lease until 2014.
The accountant shortlisted One St Peter’s Square as well as Allied London’s Spinningfields and Ask Developments’ Greengate Embankment near Manchester Victoria station.
KPMG has also recently agreed to take new offices in Leeds. Last week, it agreed heads of terms with Leeds council for a new 61,000 sq ft office building on the Sovereign Street development site, to be developed by Sovereign Leeds.
A source said: “KPMG is currently in advanced discussions with Argent/GMPVF regarding a pre-let of 65,000 sq ft at One St Peter’s Square, which is now the preferred option for KPMG’s new Manchester office. A further announcement is expected to be issued in the coming weeks.”
