Orchard Street signs up Watson Wyatt at Belvedere

Orchard Street Investment Management, a London-based specialist commercial property investment manager, has completed a letting to global actuarial consulting firm Watson Wyatt at its new 100,000 sq ft city centre Manchester office.

Watson Wyatt will occupy the fourth floor, totalling 15,427 sq ft, on a 10-year lease. Quoting rents at the building are £28.50/sq ft.

The letting closely follows a deal with office furniture provider, Steelcase, which took 2,970 sq ft on the ground floor, also on a 10-year lease.

Phillip Rodger, head of asset management at Orchard Street, said: "We are delighted to welcome a company of the calibre of Watson Wyatt to Belvedere. The property has generated a significant amount of interest since its launch and we expect to be able to announce further lettings in the near future."

Alex Russell of joint letting agent WHR Property Consultants, said: "This is one of the most significant deals to be completed within Manchester city centre so far this year. Although take-up for the first half of this year has been significantly below the five year average at circa 200,000 sq ft, there are signs that the latter part of 2009 will be positive.

"Belvedere is in a strong position to attract new occupiers as not only is it prominently situated in the heart of Manchester's traditional office core but it offers an exceptional working environment with stunning views over the city."

WHR and Jones Lang LaSalle advised Orchard Street. Maxwell Brown acted as advisor to Watson Wyatt on the transaction.

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