Brown Shipley, a private bank, has become the latest tenant at Schroder Real Estate Investment Management’s No. 1 Spinningfields scheme in Manchester.
The bank, part of the Quintet Private Bank group, will take the building’s 11,342 sq ft 14th floor for £37.50 per sq ft on a 10-year lease.
The floor’s current occupier, law firm Browne Jacobson, will relocate in the building and extend its lease. These most recent deals follow last year’s letting to law firm Fieldfisher.
Makoto Fukui, head of strategic partnerships at Schroder Real Estate, said: “We are delighted that, despite the turbulence that Covid-19 has brought to Manchester and globally, the resilience of the best building in the city and our active management approach has now delivered three key lettings during lockdown to take the building to full occupation.”
OBI advised on the No. 1 Spinningfields lettings. Norton Rose Fulbright advised Schroders.
In December, Schroders announced a string of new lettings at its City Tower in Manchester. Coalfire, a cyber risk management advisory firm, took 5,466 sq ft on the building’s 28th floor on a 10-year lease, moving from its office at Manchester One. Oodle Car Finance took 66 desks from Schroders’ new flexible workspace offering, Elevate, having moved from a Regus office, and infrastructure support company Amey relocated within the building.
In an interview with EG last year, then-head of real estate Duncan Owen and UK real estate boss Nick Montgomery pointed to Schroders’ expansion in Manchester as an example of the fund manager’s focus on what they called “winning cities”.
“We had a real conviction five years ago that Manchester was going to capture a disproportionate share of human and financial capital,” Montgomery said. “And we’re now not only among the biggest owners of real estate in Manchester, we also have a Manchester office.”
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