The private bank is relocating from 3 Hardman Street in Manchester to No.1 Spinningfields, where it will occupy 11,300 sq ft on the 14th floor of the Schroders-owned block.
Brown Shipley spent 10 years at 3 Hardman Street, where it occupied 14,500 sq ft, but has opted to downsize, allowing the firm to work more flexibly, according to Martin Cuthbert, head of the bank’s Manchester office.
Cuthbert said: “This office move will not only bring a change of address but also new working practices, with a different balance of home working along with time in the office, which will be reflected in the office design.”
The deal will also see law firm Browne Jacobson, which currently occupies the space, relocate within the building.
Brown Shipley has signed a 10-year lease at No.1 Spinningfields, which is now fully let. Last year, law firm Fieldfisher took the 11,300 sq ft 17th floor on a 15-year lease.
Other occupiers at the 19-storey building include professional services firm PWC, price comparison business Moneysupermarket, private equity firm Northedge Capital, and law firm Squire Patton Boggs.
Makoto Fukui, head of strategic partnerships at Schroder Real Estate, said: “Despite the turbulence that Covid-19 has brought to Manchester and globally, assets such as No.1 Spinningfields play a key part in ensuring that discerning occupiers such as Brown Shipley value the role of corporate offices going forward.”
OBI Property advised Browne Jacobson and Brown Shipley. Norton Rose Fullbright advised Schroders.
Will Lewis, director at OBI, said: “Even during a pandemic, occupiers are making quick and positive responses. It is this type of proactive approach and embracing the new ways of working that will provide organisations with the right working environment to succeed going forward.”
Schroders bought the 260,000 sq ft No. 1 Spinningfields from developer Allied London in 2017 for £200m.
Nick Montgomery, Schroders’ head of UK real estate investment, told Place North West sister publication The Subplot last week that the fund manager plans to ramp up its provision of flexible workspace across Manchester, including through its own serviced office brand, Elevate.