BLM eyes 60,000 sq ft deal at Two New Bailey
The law firm is understood to be looking at 60,000 sq ft in Two New Bailey as it considers options for its Manchester base.
BLM is looking at a potential relocation from its existing base at King’s House on King Street West, which is home to nearly 100 staff, with numerous options on the table, including staying put. However, Place North West understands Two New Bailey in Salford has emerged as a frontrunner for BLM’s requirement.
BLM’s potential deal at the site follows the news revealed by Place North West this week that communications giant BT had picked New Bailey for its coveted 200,000 sq ft office requirement.
The law firm is to take space at Two New Bailey, being built by Bowmer & Kirkland for English Cities Fund, a joint venture between Muse Developments, Legal & General, and Homes England. The office is due to complete by the end of the year.
Aviva is forward-funding the building, which totals 188,000 sq ft and has floorplates of around 18,000 sq ft. BLM’s deal will leave around 80,000 sq ft available at Two New Bailey. Fellow law firm Eversheds confirmed a 50,000 sq ft pre-let this year. Eversheds chose New Bailey over a final shortlist which also included 125 Deansgate and Landmark.
In a statement to Place North West, a BLM spokesperson said: “We have been considering our requirements in relation to premises to suit our future needs in Manchester for some time. Whilst we have identified a number of options, including remaining in our current location, at this time no deal has been finalised and no contracts have been exchanged. We will be communicating with our colleagues in Manchester as soon as we have determined how we intend to proceed.”
One New Bailey, the first office delivered at the site, is also nearly full, having attracted tenants including Freshfield Bruckhaus Deringer and WH Ireland. Two deals, a 5,300 sq ft letting to Shawbrook Bank, and 1,900 sq ft to Circle Recruitment, completed this summer.
Around 3,100 sq ft remains available in the 125,000 sq ft building.
ECF declined to comment. Cushman & Wakefield and JLL are the retained agents for New Bailey.