City centre offices retains tenants at headline rents
Owners Royal London Asset Management (RLAM), via their retained asset managers Howlings Hodgson, have agreed new leases with two high profile existing tenants at One New York Street in Manchester city centre.
DC Advisory and Frazer John Recruitment have agreed new deals at headline rentals of £32.50 per sq ft.
RLAM has made a commitment to upgrade the building’s shower and bicycle storage amenity in the basement with the provision of around 50 cycle racks.
These will be a replica of the ones they recently installed in another of their Manchester assets, 3 Hardman Square in Spinningfields. The works are due to be completed by the end of next month.
John Dyson, founder of Frazer John Recruitment, said: “When our lease came up for renewal, the leadership team at FJR Group weighed up a number of office options.
“Their goal was to find a space that their team could feel at home in and that delivered the ‘wow’ factor that One New York Street has given their candidates and clients over the last six years.
“Our decision to stay at here was helped by the landlord’s continued commitment to refurbishment following the successful reception upgrades.
“We were particularly happy with the planned improvements to the basement shower and bike storage facilities, which perfectly aligns with FJR Group’s push for healthy and active lifestyles, and health and wellbeing in the workplace.”
Tony Howlings, of Howlings Hodgson, said: “The quality of the works carried out by the building’s owners coupled with the excellent location and the unique feel of the building has made the offer to remain highly attractive to both FJR and DC Advisory.
“We are close to agreeing terms on another two deals in the building so hope to be making further announcements soon.”
James Dickinson, of Canning O’Neill, joint letting agents with CBRE and Colliers, added: “Both companies considered alternative options in the city centre but felt that the quality of the building following RLAMS’s recent and comprehensive reception and common area refurbishment, coupled with the building’s convenient location for access to public transport made the choice to remain for a further five years an easy decision.
“RLAM has recently partnered with leading telecoms provider ‘Backbone Connect’ which now means both new and existing tenants will have access to high speed broadband within five days of placing an order.”
RLAM has fully refurbished the available accommodation in the building with suites ranging from 852 sq ft to a whole floor of just over 9,000 sq ft.
