DLA Piper confirms One St Peter’s Square deal

Jessica Middleton-Pugh

Law firm DLA Piper has taken 45,000 sq ft in Argent and Greater Manchester Property Venture Fund's One St Peter's Square in Manchester city centre.

The law firm signed a 15-year lease for the eighth and ninth floors of the building, and is due to relocate from its current offices in 101 Barbirolli Square by mid-2016 following a full fit-out.

The 280,000 sq ft 13-storey One St Peter's Square was completed in October, built by Carillion and designed by Glenn Howells Architects.

Accountancy firm KPMG is due to move into 75,000 sq ft across the upper three floors by Christmas, while San Carlo has opened a 5,000 sq ft Fumo restaurant on the ground and mezzanine level.

DLA Piper is one of four professional services firms looking to relocate out of Barbirolli Square, alongside accountancy companies EY and PwC and law firm Addleshaw Goddard.

EY is expected to take 60,000 sq ft in Mosley Street Venture's No 2 St Peter's Square, while PwC is rumoured to be discussing a 60,000 sq ft prelet at Allied London's No 1 Spinningfields. Addleshaw Goddard has a 55,000 sq ft requirement.

DTZ is representing Mosley Street Ventures, OBI Property is acting for Allied London.

Savills and GVA are the joint letting agents for One St Peter's Square. GVA advised DLA Piper.

Liam Cowell, managing partner at DLA Piper in Manchester, said: "Our new location is a real symbol of the firm's commitment to Manchester and our intention to remain at the heart of the local business community. Having all of our staff under one roof will further boost the collegiate atmosphere and make the practicalities of every day work easier for all. One St Peter's Square is an impressive and prestigious new office building and we are very much looking forward to our move in 2016."

Rent at One St Peter's Square is around £30/sq ft.

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Great news, obviously. However,it is right that one firm (GVA) advise the principal funder, the developer and one of then the tenant? What do other people think? Should this activity be more regulated?

By Observer

Our industry is based on trust and that works for us. No more regulation required.

By Anonymous