DF Capital takes 23,000 sq ft at Ancoats’ Express Building

In autumn, Distribution Finance Capital, the Manchester-based specialist bank, will move from its current HQ on Oxford Street to the grade two-listed building on Great Ancoats Street.

The bank will occupy the last remaining 23,000 sq ft across the third and fourth floors of the Express Building. The firm has signed a 10-year lease at the “significantly larger” office space, according to the company.

CBRE was the agent for the occupier, and OBI acted for the landlord, which will secure rents in the mid-£20/sq ft from DF Capital.

The 86-year-old building was redeveloped in 2019 by landlord Wittington Investments, in partnership with OBI.

In June 2023, cybersecurity firm Novacoast set up 8,500 sq ft on the sixth floor of the 77,500 sq ft building, leaving only the final 23,000 sq ft available.

Carl D’Ammassa, chief executive, DF Capital, said: “As a Manchester-based bank, we’re proud to continue investing in the city and in its local talent.

“This marks our third home here in Manchester and represents an exciting new chapter for us as we continue to scale the bank and grow our team further.

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“The Express Building is a true Manchester landmark that shares our values of originality, bold thinking, and creativity – qualities that define our people and the Northern Quarter itself.”

The Express building was built in 1939 as the northern base for the Daily Express newspaper. In 2018, OBI began to carry out an overhaul of the block, completing the reset in 2019.

Workspace operator Huckletree then signed a pre-let to take multiple floors of the office building, and now occupies the lower, ground, first, and second floors.

Fashion retailer VF Corporation moved into the 9,000 sq ft fifth floor in 2023, taking advantage of the building’s showroom offer.