WeWork is in advanced discussions to lease Tesco Pension Fund’s 66,000 sq ft Dalton Place in Manchester – the first building it will fully occupy in the city.
It is understood the co-working operator has agreed a deal to lease the building for at least 10 years.
Dalton Place will be WeWork’s third site in Manchester after Schroder Real Estate’s No 1 Spinningfields and Deka’s One St Peter’s Square, where it occupies a combined 100,000 sq ft.
Alongside Dalton Place, WeWork is considering further offices across Manchester and is in discussions on a number of other buildings, including Boultbee Brooks’ 51,000 sq ft Hyphen and Orchard Street’s 49,000 sq ft Bauhaus.
Dalton Place, formerly St James’ House, was previously occupied by KPMG, which moved to One St Peter’s Square at the start of 2015.
It was redeveloped after the Tesco Pension Fund bought the building from the Crown Estate later that same year for £17.2m.
Savills and OBI are letting agents at Dalton Place.
All parties declined to comment.
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