Barclays has finally done a deal with landlord Allied Landlord two years after credit card division Barclaycard decided not to occupy a 100,000 sq ft letting at 3 Hardman Street in Manchester city centre's popular office district.
Barclays will consolidate five divisions from different locations around the city into 36,000 sq ft at the 350,000 sq ft building.
The terms of the deal were not disclosed but Barclays is understood to have paid Allied London a fee to surrender the balance of 64,000 sq ft.
Barclays will have its own dedicated ground floor reception overlooking Hardman Square and the first floor for offices. Barclaycard was to have occupied three office floors in the deal signed in 2005.
The move will bring together approximately 270 sales and operations staff currently located at Marsden Street, Mosley Street and Salford Quays. Led by Michael Hartig, head of Barclays Commercial Bank in Manchester, the new office will house approximately 170 staff from Barclays Commercial Bank plus another 100 staff representing Trade; Barclays Sales & Asset Finance; Barclays Capital; and Barclays Ventures.
The former Financial Sponsors Group and the Corporate Leveraged Finance Team in Barclays will now collectively operate under the title Strategic Debt Finance and the leadership of Glenn Clarke. The remit of SDF will be to support a range of current and prospective clients in any strategic corporate events, which will include Buy Outs and Corporate Acquisitions in the Public, Private and Private Equity arena.
Internal fit-out is due to start on site at the beginning of August with Barclays taking occupation before the end of the year.
Barclays is advised by project managers and quantity surveyors Arcadis, architects and designers MCM, Roger Preston Partners for mechanical and electrical design and ISG. Allied London is advised by agents Jones Lang LaSalle and DTZ.