Laing O’Rourke looks for new offices after UKFast sale
Server hosting firm UKFast has acquired a 40,000 sq ft office in Hulme from Laing O’Rourke, leading the construction company to launch its search for a new North West base.
The building is next to UKFast’s headquarters at Birley Fields and will enable the tech company to double in size.
UKFast bought its current office, No1 Archway, from Laing O’Rourke in 2013 for £3.2m, and spent £20m on a fit-out.
Neighbouring block, No3 Archway, is Laing O’Rourke’s only North West office.
According to a Laing O’Rourke spokesperson, the sale of No3 Archway was “concluded on favourable commercial terms, and the transaction allows Laing O’Rourke the opportunity to source new office accommodation for its well established northern headquarters based in the region, that meets the future needs of the business securing and delivering our clients’ major projects.
“Laing O’Rourke will remain as tenants in the building for the next 12 months while new accommodation is sourced that allows us to create a modern, dynamic environment for our team to work and thrive in.”
UKFast said the deal would enable it to expand its Hulme campus from 300 staff to 800. Once it moves into No3 Archway, it said that excess space could be let to tech start-up companies, as well as using 30% for amenity and non-core business uses.
Earlier this year the firm announced a £40m fund from the Royal Bank of Scotland, leading it to acquire security specialists Pentest in June.
OBI Property advised UKFast. Laing O’Rourke was unrepresented.