APAM in the News – this article originally appeared on the CoStar website. Read the original here: https://product.costar.com/home/news/shared/1837760999
Catella APAM, the specialist UK real estate asset and investment manager, on behalf of Britannia Invest A/S, has let 17,143 sq ft of offices at the Grade II listed Bridgewater House in Manchester city centre to digital agency Dept.
Dept has agreed a new 10 year lease for the ninth floor of the building, totalling 17,143 sq ft (1,593 sq m).
Bridgewater House has recently undergone a £1m refurbishment, updating the reception and adding a café and business lounge.
Located on Whitworth Street, Bridgewater House is two minutes from Manchester’s Oxford Road station.
Pete Owen, Senior Asset Manager at APAM, said: “Bridgewater House has become a highly appealing option for the growing number of businesses wanting impressive space in Manchester’s vibrant city centre. Occupier interest has been very positive following the high-quality refurbishment and the addition of business and lifestyle amenities. Over the last 18 months we have let more than 55,000 sq ft with headline rents of £23.50 psf. The most recent letting to Dept committing to 17,000 sq ft is testament to the building’s repositioning works we initiated, attracting a global digital agency further strengthening the tenant mix.”
Daniel Barnes, associate director in the office agency team at Savills, said: “The rich heritage of the property, its fantastic location, and the recent refurbishment has reinforced Bridgewater House as leading office accommodation in Manchester city centre. Following a string of recent lettings, we’re really pleased to have let the largest space in the building – the whole of the ninth floor – on behalf of our client.”
Dept employs 1,100 people in 11 markets across Europe and North America.
Andrew Timms of Edwards & Co, who represented Dept, said “After several months of searching the market, Bridgewater House was identified as the perfect home for Dept’s main UK base. Its large floorplates, listed façade and Mancunian vibe, coupled with its proximity to Piccadilly, made it the ideal choice. We believe Bridgewater House will provide for Dept’s continued expansion in the city for many years to come.”
Dept Holdings UK Ltd was represented by Edwards & Co.
Savills and OBI represent APAM.