Catella APAM (“APAM”), the specialist UK real estate asset and investment manager, on behalf of Britannia Invest A/S, has let the final office space at the Grade II listed Bridgewater House in Manchester city centre to Manchester Metropolitan University (“MMU”).
MMU has agreed a new 10-year lease for 12,174 sq ft for part of the building’s seventh floor and 5,231 sq ft from part of the eighth floor. In addition, INTO have expanded within the building taking an additional 5,108 sq ft. The deal with MMU has taken the building to fully let, following an extensive £1 million refurbishment of Bridgwater House in 2018.
With over a century of Mancunian heritage, the recent regeneration of the building has provided a new, modern reception space along with café and business lounge. The development works have transformed the building; providing brand new meeting pods, cycle storage, shower and changing facilities. Located on Whitworth Street, the property is just two minutes from Manchester’s Oxford Road station with St Peter’s Square and its surrounding amenities only five minutes away.
Peter Owen, Senior Asset Manager at APAM comments: “We are delighted to announce the deal to MMU that takes the building to full capacity. This completes the revitalisation of a tired building following the main occupier vacating. The efforts of all the team have shone through and by carefully curating the refurbishment works the rents have moved on from mid-teens to a new headline of £23.50 psf. Bridgewater House has re-established itself as a vibrant, modern workplace with excellent amenities and tenant mix. It’s a fantastic story and place to do business.”
Daniel Barnes, associate director in the office agency team at Savills, comments: “Following the refurbishment works Bridgewater House repositioned itself in the Manchester office market and has secured six new occupiers. The building is an exceptionally appealing option for a range of occupiers, and it is testament to the investment into the building that Bridgewater House is now fully let.”
Savills & OBI Represented APAM. Cushman & Wakefield represented MMU.