City centre office space now fully leased following deal with insurance firm

Mapletree Investments, which owns 3 Hardman Street in Manchester’s business district, said the property is now fully occupied following a deal with Protector Insurance.

The Scandinavian insurance company, which is listed on the Oslo Stock Exchange, has signed a 10-year tenancy lease to take up a 9,818 sq ft office unit on the seventh floor of the office development.

Its move from its former premises in New York Street is to help support the firm’s rapid expansion in Manchester and the UK.

Mapletree is a Singapore-headquartered real estate development, investment, capital and property management company.

Paul Bailey, director of investment and asset management, UK, at Mapletree, said: “We are delighted to welcome Protector Insurance to the building and further support the commitment of European businesses in Manchester.

“3 Hardman Street is one asset within Mapletree’s broader portfolio of high-quality UK office properties.

“We continue to invest in our buildings to ensure that they meet the highest standards of occupier needs. Protector Insurance’s decision to relocate to our building is testament to that investment.”

Protector Insurance joins other firms at 3 Hardman Street including General Medical Council, Bank of New York, Barclays, law firm Pinsent Mason, and BDO LLP.

JLL and Savills are the appointed leasing agents for 3 Hardman Street and Canning O’Neill represented Protector Insurance.

Law firm Kennedys acted for Protector Insurance.

Angela Bhaseen, a senior associate in Kennedys’ Manchester office, said: “This is another positive indication of Manchester’s appeal to both domestic and international businesses.

“It is one of a number of transactions we have recently completed or are currently working on that brings expansion and investment into the city.

“The space itself will be completely transformed as a result of this deal, which demonstrated the collaboration required by all parties to complete this so efficiently. This also showcases the comprehensive commercial expertise and capabilities available to our insurer clients.”

Also advising Protector on the deal was Conrad O’Neill from Canning O’Neill Surveyors, who negotiated the terms of the letting, and John Valentine of BWP Consultants, dealing with the extensive fit-out works before Protector occupy the property in April.