Barclays ‘completes’ Piccadilly Place deal

BARCLAYS is understood to have completed its expected 80,000 sq ft deal at 4 Piccadilly Place in Manchester.

The bank is moving staff from Byrom and Astley House on Quay Street and its existing office on Mosley Street. Its 35,000 sq ft base in Spinningfields is unaffected.

The deal has still not been confirmed but Property Week said Barclays had agreed a 15-year lease with a 10-year break with landlord Carlyle Group at £26.50/sq ft, just below the asking price. It is said to represent the biggest office deal in the city for three years.

In the summer Barclays narrowed its search down to Ask’s 180,000 sq ft Number One First Street scheme before settling on the 110,000 sq ft 4 Piccadilly Place, close to Piccadilly station.

Byrom and Astley House is owned by the West Midlands Pension Fund which is drawing up plans to replace it with a 14-storey tower.

Savills and GVA are joint agents for Piccadilly Place. Barclays was advised by CBRE.

Click here to sign up to receive our new South West business news...
Close