CBRE agrees triple letting at Belvedere

Acting on behalf of Deka, CBRE, together with joint letting agent Savills, has negotiated three new leases at Belvedere in a complicated transaction that saw all three deals being agreed simultaneously.

Altium, which previously occupied a suite on the sixth floor, has moved down a level having agreed a new ten-year lease for 4,431 sq ft.

This move enabled Arrow Global to expand into the vacant space and it now occupies the entire sixth floor totaling 10,008 sq ft.

CBRE, also tenants within the building, has extended its demise taking an additional 447 sq ft.

The quoting rental level for the city centre building is £30/sq ft. Only a 5,260 sq ft suite on the ground floor now remains empty.

Belvedere is located on the corner of Cooper Street and Booth Street.

Alex Russell, associate director of CBRE, said: "This was a very complex transaction as it required simultaneous agreement from all three parties to ensure a successful outcome for all involved.

"We were delighted that we were able to successfully negotiate a deal, which suited everyone."

David Thwaites, head of office agency at Lambert Smith hampton, who acted on behalf of Altium, said: "This was a unique business opportunity that was presented to us allowing Altium to expand within the building as part of its planned business strategy for its Manchester office."

Will Lewis, partner at OBI, who represented Arrow Global, said: "Arrow Global has grown exponentially since it first took occupation at Belvedere four years ago and this deal enabled the company to almost double in size with minimum disruption and cost."