Following MCR’s purchase of the Northern Way portfolio at the end of 2015, the highly acquisitive Manchester-based property company owned by Aneel Mussarat has relocated its head office from Rusholme to 8,000 sq ft at Universal Square on the Piccadilly fringe of the city centre.
Located on the Piccadilly fringe of Manchester city centre, Universal Square, which was part of the Northern Way portfolio, is a 260,000 sq ft office campus, already home to over 50 different companies. The scheme was originally built as the head office of Great Universal Stores and was subsequently reconfigured to provide a wide range of office accommodation from 150 sq ft, up to individual floors of 16,500 sq ft. The remodelling included the provision of an on-site restaurant and gym and a new landscaped central square. The site also has secure parking for over 900 cars.
Mark Canning, director at Canning O’Neill, joint agents for the scheme with Edwards & Co and Savills, said: “MCR’s move into Universal Square is part of an ambitious plan to take the scheme to the next level. With the supply of large floor plate offices in Manchester city centre still on the decline, and rents continuing to rise, Universal Square can offer up to 70,000 sq ft in floors of up to 16,450 sq ft at a highly competitive rent.”
Charles Denby at MCR, said: “Our decision to relocate to Universal Square demonstrates our confidence in the scheme, which has supported the growth of so many businesses. As an active investor and landlord, we have grand plans for the building which will transform the destiny of Universal Square. Our refurbishment works are underway and once we have obtained planning consent, the works to the external envelope will progress. Exciting times are definitely ahead for the building and its occupiers. Although close to Piccadilly, we are also committed to providing a new Shuttle Bus service between the station and Universal Square at peak times.”
The quoting rent is £12.50/sq ft.