CarFinance247 tees up move to Universal Square

Manchester-based property and investment company MCR Property Group has secured a 40,000sq ft letting to CarFinance 247 Limited at Universal Square.

The news follows swiftly after the lettings to AWH Legal, Kaplan Financial and Pearson Professional Assessments reported earlier this month and leaves now only  20,000sq ft available at the 260,000sq ft office campus.

CarFinance 247 will relocate its 420-strong team to Universal Square in August.

Following the recent spate of lettings there now remains only one large suite available totalling some 11,000sq ft.

Universal Square was acquired in December, 2015 by MCR and was 50% vacant at that time.  Since then lettings have been concluded on more than100,000sq ft and an extensive refurbishment programme has been undertaken.

MCR is well advanced with the external envelope works including the recladding and replacing of the windows to the property.  Facilities onsite include an on-site restaurant and gym, and a landscaped courtyard.

The site also has secure parking for 800 cars and a complimentary shuttle bus service between the scheme and Piccadilly Station.

CarFinance 247’s managing director Reg Rix, said: “The move to Universal Square will enable us to once again bring all operations under one roof. The business is currently spread across a number of sites in the Ancoats area of the City as a result of continued growth during the past couple of years.

“We will be occupying two and a half floors within the building and refurbishment is underway ahead of us completing the move later this year.”

John Nash, director at Canning O’Neill, joint agents for the scheme with Edwards & Co and Savills, said: “CarFinance 247’s decision to relocate here means that we have secured deals on over 70,000sq ft space since the start of the year and have taken the building’s occupancy level up to 92%.

“With other deals in legals and an unwavering high level of interest in the scheme, Universal Square is on course to be fully occupied in the coming months.

Charles Denby at MCR, concluded: “This is excellent news for Universal Square. The refurbishment and ongoing investment in the scheme has attracted a huge number of high profile tenants. Being based at the scheme means that we can quickly respond to tenants’ queries, which again has added to the building’s pull.”

Quoting rental is £13.50 per sq ft plus cars.

OBI Property advised CarFinance 247.