196Deansgate

Full house at 196 Deansgate

CEG’s 196 Deansgate is now fully let with two new occupiers joining the building on five-year leases.

Distribution Finance Capital has taken 4,800 sq ft at £24.50/sq ft, while social media company Daily Feed has taken 4,100 sq ft on the same terms.

Daily Feed is moving from its offices on Quay Street, while Distribution Finance Capital has relocated from Piccadilly House.

Existing tenant Arrk Group has also taken a further 2,700 sq ft, bringing the building on the corner of Deansgate, Peter Street, and Quay Street up to full occupation.

CEG acquired the building along with Jackson House in Sale from the former Kenmore Group in 2010, and has spent £2.3m on refurbishment since then. Avison Young and Canning O’ Neill are joint office agents for the building.

Earlier this year, bar and restaurant Manahatta opened its first site in Manchester on the ground floor in the former retail unit operated by Nevisport.

Greg Lacey, investment manager at CEG, said: “196 Deansgate is in a superb location and it is fantastic to see it now fully occupied.

“Earlier this year we welcomed Farleys Solicitors and Olliers to the building and these new occupiers are great additions. We have just started on site with the landlord works for the second Federal Bar and Café in Manchester which will be opening in February or March 2019”.

Avison Young associate director Harry Skinner added: “196 Deansgate has attracted a wide range of occupiers and these lettings demonstrate strong demand for good quality character space. We’ve also seen a significant increase in achieved headline rent following the building refurbishment.”

“The opening of Manhatta has not only enhanced the external appearance of the building but has added to the wide range of bars and restaurants in the immediate vicinity.”

All the tenants were unrepresented.

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