HSBC takes 10,300 sq ft of flex space at Landmark
The banking giant will occupy space managed by Hana, becoming the latest firm to sign at Barings Real Estate’s 180,000 sq ft Manchester building, joining Grant Thornton, JLL and Allianz.
HSBC UK’s 5-year lease comprises the majority of the second floor at the St Peter’s Square office and means that approximately 40% of Hana by Industrious’ lettable space is now pre-let prior to its launch in September this year.
Industrious took over the running of Hana earlier this year as part of a deal that saw CBRE invest US$200m in Industrious, taking a 35% stake in the firm.
Completed in 2020, the 14-storey Landmark development was designed by architects Squire & Partners and reportedly demands the highest headline rent in Manchester at £38.50/ sq ft, according to Avison Young’s Big Nine office report.
Ian Mayhew, managing director at Barings, said: “We have attracted six high-profile occupiers since the building completed, five of which having signed up during the pandemic, demonstrating the demand for both traditional and flexible high quality office space.
“The flexible offering within Landmark means we can be truly inclusive and offer solutions to a wide range of office requirements all within a sustainable building in the city’s best location.”
Jamie Hodari, chief executive and co-founder of Industrious, said: “To see this level of demand is extremely exciting, particularly pre-opening, and is further proof that flexible workplace solutions are at the centre of the future of the office.”
HSBC plans to relocate employees from its 27,000 sq ft office in Hardman Square in Spinningfields, where its lease was expiring, to Landmark at the beginning of 2022.
“We always review our need for office space as leases come up for renewal,” said a HSBC UK spokesperson. “This move enables us to combine high-quality and collaborative working areas for colleagues with state-of-the-art client meeting space.”
Colliers International, JLL and CBRE are the letting agents at Landmark. CBRE represented HSBC.