Vet pharma company to set record office rent in Manchester
Dechra is understood to be close to agreeing terms on a 15,000 sq ft deal at £48/sq ft at Bruntwood SciTech’s No3 Circle Square.
Earlier this month, Dechra, which develops medicines for cats, dogs, and horses, announced its intention to consolidate its UK business into a single office in Manchester.
The firm, founded in 1989, currently runs its UK operations out of sites in Northwich and Shrewsbury. Northwich was, until recently, also Dechra’s global head office but the company has decided to move its HQ to Boston, Massachusettes.
Place North West understands Dechra has chosen to relocate to Bruntwood SciTech’s No3 Circle Square, setting a new headline rent for the city in the process.
The £48/sq ft Dechra will pay subject to the completion of the deal is £3 higher than the current record – £45/sq ft by Channel 4 at No1 St Michael’s.
Dechra would join Havas Lynx, Puma, and Autotrader at No3 Circle Square, which completed last year.
Bruntwood SciTech and Dechra were contacted for comment.
im surprised considering the location not being central
By Anonymous
It has an on site car park more “central” offices don’t
By Anonymous
How much of the rent is as a result of the costs for splitting the floor?
By WeLoveOffices
Another great story for Manchester and Circle Square, but these record rents increasingly feel like a false economy. The real question is: how much rent free was needed to land this deal? I’d wager it’s in the region of 3 to 4 years
By Anonymous
Sure Bruntwood and Dechra are both delighted at this being leaked!
By Chris
Nice to see Bruntwood quietly going about their business and achieving good deals in comparison to the ever present thought pieces about Eden which remains 70% vacant.
By Anon
@Anonymous 08.02
How is Circle Square not central? It’s in between Piccadilly and Oxford Road stations on one side and the universities and town hall on the other. There’s more to Manchester than Market Street.
By Dave Pavement