HBD’s Island secures first tenant
Virgin Media O2 has signed a 10-year lease to occupy 45,700 sq ft within the Greater Manchester Pension Fund-backed office off John Dalton Street in Manchester.
This is the first pre-let for Island, which is the product of a joint venture between GMPF and developer HBD. The office block is nearly finished, with a completion date set for the end of this month.
Virgin Media O2’s customer service agents will take over the top five floors of the nine-storey office block. That amounts to more than half of the 91,000 sq ft of office space in the building.
Virgin Media O2 will relocate from around 100,000 sq ft at Concord House in Wythenshawe to the Cartwright Pickard-designed building, one of a few grade A office schemes currently under construction in the city.
“This significant investment demonstrates our commitment to retaining a sizeable presence in Manchester, with a flagship new office that places us in the heart of the city’s thriving technology hub,” said Patricia Cobian, Virgin Media O2’s chief financial officer.
“The state-of-the art office will provide a vibrant space for our employees in the North West to get together in person and collaborate, meeting our needs now and helping to attract future talent. Improving our people’s experience was a key focus in the selection process, and Island offers our employees a wide range of amenities and facilities that are not currently available to them.”
Tim Roberts, chief executive of HBD parent company Henry Boot, described Island as a “truly outstanding office space in Manchester”.
He said: “This landmark pre-let is testament to HBD’s expertise in delivering sustainable commercial office spaces that exceed occupiers’ expectations and support them in attracting and retaining the best talent,” he continued.
Greater Manchester Mayor Andy Burnham also threw in his praise for the letting, stating: “It’s very positive to see Virgin Media O2 bring their new North West HQ to Manchester in a state-of-the-art facility with net-zero carbon workspaces that enhance our carbon neutral plans. This multi-million-pound investment will bring a significant boost to the city-region and highlights Greater Manchester as a place where companies want to invest.”
Burnham was not the only one to mention the building’s sustainability credentials as one of its major draws.
Island is targeting a BREEAM Excellent and EPC A rating. It also has ambitions to achieve a 5.5* rating from NABERS, having already signed a 5* NABERS Design for Performance Agreement. The building also has a WELL Gold score.
Henry Boot’s Roberts stated: “Island’s unrivalled sustainability credentials make it an attractive site for a diverse range of occupiers and we look forward to welcoming more tenants into Manchester’s best-in-class office space to support their business and ESG ambitions for many years to come.”
HBD managing director Ed Hutchinson added: “Island has been carefully designed around the needs of the occupier. Not only is it a highly intelligent and sustainable building, but it’s one which prioritises people’s health and well-being. Virgin Media O2’s values are perfectly aligned with ours and we’re proud to welcome them to Island.”
OBI represented Island on the deal. CBRE advised Virgin Media O2. CBRE and OBI are joint agents on Island.
