Hat-trick of deals as Manchester Green fills up
Squarestone Asset Management has completed three lettings totalling 20,000 sq ft at the south Manchester business park.
The trio of deals at the 107,200 sq ft office park is headed by a 10,500 sqft expansion by Chiesi Pharmaceuticals, which already occupied 20,000 sqft on the park.
Distribution and logistics firm Mainfreight UK has taken 3,000 sqft on a 10-year lease, while IT support provider BCN is to move from nearby Trident into a bespoke 6,500 sq ft unit, also on 10-year terms. Amspec is on site with fit out, with BCN hoping to move in by year end.
Regional UK office fund Squarestone Growth acquired the business park close to Manchester Airport in April 2018 for £21m from Barwood Capital and DB Symmetry. After carrying out a refurbishment project, Squarestone said it now has just one 3,500 sqft suite remaining on the park.
The company also bought Mere Grange business park in St Helens in 2018, following up with the £7m purchase of 5 Temple Square in Liverpool in 2019.
Squaretone founding partner Paul Coulter said: “Manchester Green is one of the flagship properties of our out of town office portfolio and shows that quality is still a core driving factor in the current market.
“At Squarestone we are committed to building long term relationships with our tenants and are pleased to continue working with existing client Cheisi to expand their space, while also working closely with BCN and Mainfreight to support their business needs.
Coulter added that by June 2021 a new amenity pod at Manchester Green will offer an onsite café, gym and cycle hub.
BCN was advised by OBI and Squarestone by Canning O’Neill.