Property news: Zenith Building; Redrock Stockport; Hermes Property Unit Trust & more
THREE deals have been completed at The Zenith Building totalling 8,500sq ft in Manchester’s central business district.
Interior architect Space Zero has signed up for 4,500sq ft on the mezzanine floor of the building on Spring Gardens.
Bureau Van Dijk has also leased 2,298sq ft on the fourth floor on a five-year term, while Palatine Private Equity has expanded with 1,614sq ft of space on the eighth floor.
CBRE’s Manchester Office Agency team and joint agents OBI completed the deals on behalf of TH Real Estate.
The new occupiers join existing tenants including Overbury, Cushman & Wakefield, AEW Architects, Octopharma and Zolfo Cooper in The Zenith Building, which is located in the centre of the prime financial core.
The circa 74,000sq ft prime office building offers 12 floors of contemporary space with state-of-the-art energy efficiency systems and high levels of natural light.
Jamie Bottomley, associate director of Office Agency at CBRE Manchester, said: “We are delighted to welcome new tenants to The Zenith Building as well as accommodate the expansion of existing ones. There are now only two remaining vacant floors and we anticipate these will be snapped up in the coming months as occupiers complete for high quality office accommodation within a well sought after City Centre location.”
Robin Hutchinson, head of Asset Management at TH Real Estate, added: “These lettings, combined with a further whole floor under offer, have given the building real momentum and have reduced the available space within the building by 57%. We’ve recently gained planning permission for a second floor roof terrace, a rare attribute in Manchester’s prime core, which will only strengthen the appeal of The Zenith Building.”
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PIZZA Express and Zizzi are to open restaurants in the new Redrock Stockport development in 2017.
The lettings by Stockport Council follow the announcement that The Light Cinema will be the anchor attraction in the scheme and mean Redrock is already 60% pre let.
Taking a 3,300sq ft unit Pizza Express, will be a distinctive part of the Redrock offer, according to the local authority.
Italian restaurant chain Zizzi will also be opening a 3,000sq ft restaurant with 100 covers.
Zizzi started trading in the UK in 1999 and now has more than 140 outlets.
Redrock Stockport is a £45m leisure development which council chiefs hope will transform a key area of Stockport town centre.
Redrock is part of Stockport Council’s Investing in Stockport programme that will see around £900m invested into Growth projects by the council.
Work at Redrock is now well underway and will be fully open in 2017.
Cllr Patrick McAuley, executive member for Thriving Economy at Stockport Council, said: “It is fantastic to welcome Zizzi and Pizza Express to Stockport. These are both popular restaurants and them choosing to join us at Redrock is exciting news for our town.
“Redrock will see an important area of Stockport town centre transformed into a new, vibrant leisure and retail destination for residents and visitors.
These announcements follow the news that Holiday Inn Express will be opening a hotel as part of the neighbouring Stockport Exchange development.”
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THREE lettings have been secured by Hermes Property Unit Trust at the Guinness Road Trading Estate in Manchester.
Universal Components, Bailey Instruments and Nycomm have all taken units at the estate, which underwent a major refurbishment last year.
Existing tenant Universal Components, an automotive parts supplier, has expanded into two units totalling 14,449sq ft on a 10-year lease.
Healthcare manufacturer Bailey Instruments and telecomms supplier Nycomm have both signed deals to relocate to the estate from headquarters in Salford. Bailey Instruments has taken a five year lease on a 7,830sq ft unit while Nycomm has agreed a five year lease on a 6,792 sq ft unit.
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Guinness Road Trading Estate comprises 22 units and is also home to SGI, Tri-Star Packaging Supplies, Cennox, Body Building Warehouse, Gotlieb Packaging and Jex Engineering Company.
WHR Property Consultancy and JLL are joint letting agents at the estate.
Universal Components was represented by Devilliers Development Solutions.
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John Barton, surveyor at WHR, said: “Following an extensive refurbishment of this strategically located estate last year, we have seen a significant surge in requirements from potential occupiers. We now have only five units available ranging from 6,530sq ft to 15,450sq ft.”
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A 13,700sq ft industrial unit on a site of 0.9 acres is being offered by the Blackburn office of Trevor Dawson at an asking price of £595,000.
The premises provides a warehousing/manufacturing facility with offices, fronting a substantial yard with expansion land.
As an alternative it is thought that the buildings could be split into smaller units and therefore the unit would also appeal to potential investors.
