Thumbs up for £1m refurb of Arthur House
Planning permission has been granted for the £1m refurbishment of Arthur House in Chorlton Street, central Manchester.
Drum Income Plus (DRIP) REIT is to start the revamp after purchasing the building, comprising 26,375sq ft of office space over six floors.
Included in the work is the refurbishment of the fourth floor and remodelling of the reception area in addition to replacing the glazing on the six-storey building.
OBI Property is acting as lead consultant for DRIP REIT providing interior design, project management, asset management and lease advisory services.
Ahead of the refurbishment works DRIP REIT completed lease renewals to Midas Investment Management. The company occupies 2,632sq ft over part of the first and second floors at Arthur House.
Tony Gee and Partners LLP has also committed to a long-term lease. The company, which provides specialist engineering consultancy services to the worldwide construction industry, has expanded and will move from 2,968 sq ft of office space on the 6th floor at Arthur House to newly refurbished office space on the 4th floor comprising 3,971 sq ft.
Debbie Meredith, transactions and asset management, OBI Property said: “DRIP REIT is committed to investing in Arthur House and building long lasting relationships with the current occupiers.
“It is great to see commitment from a number of occupiers who have been in the building a number of years. Discussions are underway with several companies who are also renewing their leases within the building. The refurbishment taking place will provide a great place to work and will no doubt attract a number of new occupiers into the building “.
Bryan Sherriff, managing director at DREIM, investment adviser to DRIP REIT, said “We are working closely with OBI Property to enhance Arthur House, we want to create a vibrant building which will be attractive to new and existing occupiers. We look forward to completing the project in the next few months.”