Insurance giant commits to 10-year lease at Landmark

Barings Real Estate has secured Allianz Insurance, one of the largest general insurers in the UK, at its Landmark office development at St Peter’s Square in Manchester city centre.

Allianz is relocating more than 100 commercial and engineering insurance colleagues from Piccadilly Gardens into the 10,883 sq ft first floor at Barings’ Landmark office development.

Allianz Insurance has committed to a 10-year lease and has appointed fit out specialist TSK to design an inspiring workspace in advance of taking occupation later this year.

With around 147,000 employees worldwide, the Allianz Group serves more than 100 million customers in up to 70 countries.

Allianz has recently been announced as the top insurance brand in the world for the second year running, according to Interbrand’s Best Global Brands Ranking.

In the UK, Allianz Insurance employs 4,000 people across 19 offices, offering business policies for customers ranging from sole traders to large organisations, as well as pet, musical and legal expenses insurance. Last year, Allianz completed the acquisition of the general insurance businesses of LV= and Legal & General.

Allianz is the fourth global occupier that Barings has secured at Landmark in recent months.

Barings has signed a management agreement with flexible workspace group, Hana, for 32,000 sq ft at Landmark. Hana will design, build and operate the premium flexible space, called Hana at St Peter’s Square, which is expected to open this summer.

Additionally, global professional services firm Grant Thornton has agreed a 15-year lease to relocate its Manchester team into the 13,219 sq ft 11th floor of Landmark and will take occupation of the space later this year on completion of its fit out. It was also recently announced that Change Please, the award winning premium coffee company and social enterprise supporting people out of homelessness, which has several worldwide outlets, will operate the coffee and pastry bar within Landmark.

Allianz, Hana, Grant Thornton and Change Please will join global property company JLL who moved its Manchester team into the 14,004 sq ft 10th floor last year, representing JLL’s largest commercial office outside of London.

The 180,000 sq ft award winning Landmark development, which completed in 2020, offers 14 floors of BREEAM Excellent and Wired Score Platinum certified, office space.

Barings’ focus on wellbeing, customer experience, sustainability and technological infrastructure at Landmark provides all-important facilities for existing and future tenants, including contactless technologies enabling touch-free movement within the building, a dedicated cycle storage and maintenance hub, high quality showers and changing facilities, electric car charging spaces and Amazon lockers for package delivery and returns.

Ian Mayhew, managing director at Barings, said: “To have concluded our fourth deal and be welcoming another global occupier at Landmark in quick succession is a fantastic result and shows that, with the right offering, transactions can be concluded even with the challenges presented by the pandemic.

“It also demonstrates that the office still has an integral role to play in helping businesses to thrive. We are in a strong position now with four innovative and high-profile firms in place and our flex offering being delivered by Hana adds an exciting dynamic to the building.”

Leasing agents on Landmark are CBRE and Colliers International. Allianz were represented by JLL.