Property News: Orega takes second base

DEVELOPER 53N has let two floors totalling 12,400 sq ft at 76 King Street in Manchester city centre.  

Serviced office provider Orega has agreed a 10-year lease for the third and fourth floors of the premises. Orega already has an operation at Three Piccadilly Place.
 
53N acquired 76 King Street in June 2011 and subsequently carried out a refurbishment of the listed building – which was originally designed by architect, Alfred Waterhouse – to provide 30,180 sq ft of contemporary Grade A office accommodation over four floors. DKNY and Belstaff occupy the retail units on the ground floor.

Andrew Waugh, chief executive of 53N, said: “We recognise that occupiers need flexibility in today’s market and are delighted to welcome Orega to the building. They have an excellent business model and their offer is the perfect way to let businesses take prime office space in 76 King Street on flexible terms.

“In addition, Orega will create a business lounge and meeting rooms, which are a great asset for the rest of the building as these can be utilised by tenants who wish to take space in the remaining office floors of the building.”  

Zach Douglas, managing director of Orega, said: “King Street is one of the most desirable locations in Manchester and we were keen to build our presence within the city centre. This building is ideally situated in the heart of the traditional business core which is where we wanted to be and the exceptional quality of the accommodation meant that it was an ideal opportunity for us.”