Co-op secures first sublet for One Angel Square
After nearly four years of looking for tenants for its headquarter building, Co-op has leased 11,900 sq ft to trade union UNISON.
Co-op is the lead tenant for the entirety of the 327,000 sq ft One Angel Square. It has been shopping for subletters for six floors of the building since 2021, when the adoption of a hybrid working model made it clear the company did not require 74,000 sq ft.
“As ways of working evolve, we’re continuing to use our workspace more efficiently while remaining proudly based in Manchester,” said Heather Thomas, group property and sustainability director at Co-op.
“Welcoming UNISON to One Angel Square is a positive step in how we’re planning for the building’s future. We’re open to further tenants and committed to ensuring this fantastic building continues to be a collaborative and thriving place to work.”
UNISON is the first sublet for Co-op, which is seeking a passing rent of £35/sq ft for the One Angel Square space. The union plans to move into the space early next year.
White Druce Brown represented UNISON on the deal, while Avison Young acted for Co-op.
Avison Young director Rupert Barron said: “We were very pleased to support Co-op in securing a sublease for an 11,927 sq ft space on the 12th floor of One Angel Square, a deal that reflects its strengths as a prime office destination.”
He continued: “The building offers exceptional sustainability credentials, high-quality amenities, and flexible workspace, and this agreement further reinforces One Angel Square’s position as one of the city’s most desirable office locations.”
One Angel Square is part of the NOMA district in Manchester. Elsewhere on the NOMA estate sits 4 Angel Square, which is wholly let to BNY Mellon and currently on the market for £120m.
4 years to lease one floor?
By Anonymous
Nice to see Unison spending its members ‘hard earnt’ so wisely…
By Cyril
The co-op office is staggeringly oversized for the company and they used to own the building opposite they could have leased elsewhere and refurbished, then moved back in but nope. Massive vanity project to show they’re “successful” with an ever revolving door of temporary staff.
By ex-coop staff
Great deal!
By Anonymous
Interesting how we readers know better than the inhouse professionals.
By James Yates
Co-op used to own and fully occupy about six buildings opposite. Angel Square was build so a couple of thousand people could move out of those old, bad-condition buildings into one modern, efficient building and allow the old buildings to be refurbished and leased out. In a new post-covid, heavily-WFH world the building may be oversized and need sub-letting. But as someone who worked there pre-covid and can remember people who arrived after 9am regularly having to wander the floors looking for a seat I can say it was definitely not an oversized vanity project when originally designed and built.
By Pre-Covid user
Beautiful modern building though and you can’t say that too often.
By Anonymous