3 Hardman Square

CBRE to market former Halliwells office

A 'number of parties' are viewing space vacated by the defunct law firm at 3 Hardman Square in Spinningfields, CB Richard Ellis said as it was instructed as sole agent to let 175,000 sq ft at the building.

The building is owned by Credit Suisse Asset Management and asset managed by Müller International who, acting as client representative, appointed CBRE. Credit Suisse is seeking £30/ sq ft for the space, at the upper end of the rental tone for Manchester city centre.

Occupiers currently in the market for quality office space in the traditional core include KPMG, Lloyds Banking Group, Hill Dickinson, Pannone and DWF.

CBRE research shows 950,000 sq ft of lease expiries falling between now and the end of 2015 among professional and financial firms in the city centre.

Will Kennon, associate director of office agency at CBRE North West, said: "3 Hardman Square is an exceptional opportunity and will act as a pressure release valve in the city centre office market, which had reached a shortage of prime Grade A supply. The building provides Manchester's Central Business District with the largest remaining Grade A office floorplates, suitable for both indigenous professional and financial sector occupiers, plus potential inward occupiers considering Manchester as a business location."

Ecclesiastical Insurance currently occupies 5,000 sq ft on the first floor, whilst the remaining 175,000 sq ft will be available for immediate occupation from 26 September 2010 by way of new leases for a term of years to be agreed.

The ground floor reception will be redecorated shortly and upper floors returned to open plan layout.

Kennon said prospective parties viewing the space tended to be looking for between 25,000 sq ft and 80,000 sq ft. The lavishly furnished top floor with client meeting and seminar rooms could be retained and reused.

Designed by Manchester-born Lord Norman Foster, 3 Hardman Square was completed in 2007 and provides 180,000 sq ft of Grade A office accommodation with typical office floor plates of 22,000 sq ft.

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