Two St Peter’s Square selected as UK base for Distrelec
Distrelec, part of Swiss-founded Dätwyler Group, has announced that the company is to open its first UK operation in the recently completed Two St Peter’s Square.
Distrelec has taken a 10-year lease on the entire seventh floor of the office, totalling 16,500 sq ft.
The 160,000 sq ft Two St Peter’s Square was developed by Mosley Street Ventures and funded by Deutsche Asset Management. Accountant EY has a pre-let on 41,000 sq ft.
The new Distrelec base will be known as the Enterprise Hub, and house all product, supplier, inventory management, purchasing, e-commerce and marketing functions.
The electronics distributor has decided to centralise certain European functions in Manchester, consolidating them from Sweden, Germany, Switzerland and Italy, and plans to hire 100 people locally.
Dätwyler is an industrial supplier, originally founded in Switzerland and listed on the SIX Swiss Exchange since 1986. With a total of 50 operating companies, sales in 100 countries and more than 7,000 employees, the Dätwyler Group generates annual revenue of more than £938m.
James Petit, head of real estate, UK & Ireland, Deutsche Asset Management, said: “We are pleased Distrelec has selected Manchester and 2 St Peter’s Square in which to base its European centre for technical expertise. We believe this underlines the increasing prominence of Manchester as a European business city and the exceptional quality 2 St Peter’s Square affords office occupiers seeking best in class accommodation.”
Sixteen Real Estate is advising Distrelec on the company’s UK relocation, and ADT is undertaking the design and fit out. Cushman & Wakefield and CBRE acted for Deutsche and Mosley Street Ventures.