Gerald Eve sub-lets Marsden Street office to Macquarie

Property adviser Gerald Eve has sublet its former offices in No 1 Marsden Street to Macquarie, the Australian investment bank, which is setting up a new real estate structured finance office, its first UK regional base.

Macquarie took a seven-year lease on 2,438 sq ft on the fourth floor, at £30/sq ft with no rent-free period.

Gerald Eve's Manchester and Liverpool offices recently merged to create the firm's largest regional office in Manchester, with 22 staff, and announced plans to expand to 34 staff.

The firm has moved to a new 3,550 sq ft office in the West Wing of the fourth floor, No 1 Marsden Street. Gerald Eve took a ten-year lease from landlord Oppenheim at £30/sq ft, with five months' rent-free.

Gerald Eve's Liverpool office at Princes Parade has been closed and staff transferred to Manchester.

Mike Roocroft, head of Gerald Eve's Manchester office, said: "The creation of a larger office in the city is very timely. Manchester is now the UK's fastest growing regional capital with over £3bn already committed to property and infrastructure projects, and its city centre projected to double in size within the next ten to 15 years. We plan to reflect that growth with ambitious plans of our own to the benefit of clients and staff."

Jones Lang LaSalle advised Oppenheim; King Sturge advised Macquarie Bank.