Regus takes 26,400 sq ft at St James’s Tower

16 October 2019 07:49 Chloé Vaughan Comments (0)

Global workplace provider Regus has taken half of the extended ground floor, along with the first, fourth, and fifth floors at St James’s Tower in Manchester.

Manchester-based commercial real estate consultancy OBI has let the space to Regus, which follows the commitment by existing occupiers Fletcher’s Solicitors and Pimberley, which are to take further space on the upper floors.

With the latest deals, there is 3,000 sq ft of space remaining on the seventh floor.

The lettings have been agreed as refurbishment works to the tower on Charlotte Street continue following a £3m investment by the building’s owner. Works are due for completion in early 2020, with OBI project managing the works. From November this year, 5,000 sq ft of ground floor retail and leisure space will be made available.

The works are being completed by Russells Construction. Metis and Savills are the leasing agents on the ground floor space. CBRE represented Regus’ parent company IWG on the deal.

OBI, which has asset managed St James’s Tower since 2012, said the recent extension and refurbishment of the ground floor and first floor has increased the overall floor area to 87,000 sq ft.

Will Lewis, co-founder of OBI, said: “The £3m investment in St James’s Tower is massively changing the external appearance while significantly improving internal spaces.

“Securing Regus is particularly pleasing given that this deal has been done before works have been completed. This major deal also demonstrated that the rise of managed workspaces is very much continuing.”

Richard Morris, UK chief executive of Regus said: “St James’s Tower is located in a very prominent in the heart of Manchester city centre.

“Demand for flexible office space is growing rapidly. Our research shows that 73% of Brits believe that flexible working is the ‘new normal’, with 53% of professionals globally no working remotely for at least half of their working week. People are recognising that there are far more productive and successful in a dynamic working environment, while businesses are waking up to the financial and strategic benefits.”