Occupier reshuffle at landmark site as bank moves in

No.1 Spinningfields

Schroder Real Estate Investment Management today announced an occupier reshuffle at its landmark Manchester city centre scheme, No. 1 Spinningfields, as it reveals a new letting to Brown Shipley, the private bank.

Brown Shipley, a Quintet Private Bank, will take the 14th floor totaling 11,342 sq ft on a new 10-year lease.

Current occupier, Browne Jacobson, a national law firm with offices in five locations, will relocate within the building and extend its lease.

Makoto Fukui, head of strategic partnerships at Schroder Real Estate said: “We are delighted that, despite the turbulence that COVID-19 has brought to Manchester and globally, the resilience of the best building in the city and our active management approach has now delivered three key lettings during lockdown to take the building to full occupation.

“Assets such as No.1 Spinningfields, which offers quality, sustainable performance, and occupier experience, play a key part in ensuring that discerning occupiers such as Brown Shipley value the role of corporate offices going forward.

“We are also proud that our occupier-oriented approach during the pandemic has enabled Browne Jacobson the opportunity to adopt a transformative approach to office space whilst remaining in the building.”

OBI advised on the transactions.

Will Lewis, from OBI said: “It is brilliant to see, that even during a pandemic, occupiers are making quick and positive responses. It is this type of proactive approach and embracing the new ways of working which will provide both organisations with the right working environment to succeed going forward.”

Martin Cuthbert, head of Manchester office, Brown Shipley said: “We’re excited to move to No.1 Spinningfields, which provides us with a modern, high specification workspace which will best meet the needs of clients and colleagues alike.

“This office move will not only bring a change of address, but also new working practices.

“We will be working more flexibly as the ‘new normal’, with a different balance of home working along with time in the office, which will be reflected in the office design. This is a fantastic development for us and a firm commitment to the region as we reinforce our position as one of the leading private banks in the North West of England.”

Norton Rose Fullbright advised Schroders.

No. 1 Spinningfields is a 310,000 sq ft commercial building with state-of-the-art design and specifications, BREEAM ‘Excellent” and Wired Score ‘Platinum’ certifications.

The building is let to occupiers including international law firm Fieldfisher, PWC, Moneysupermarket, Northedge Capital, Squire Patton Boggs, WeWork, M&S Simply Food and flagship rooftop restaurant and bar 20 Stories.

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