appointed Cushman & Wakefield as joint leasing agent on City Tower,
City Tower is owned
in a joint venture held between Schroder Real Estate Investment Trust - the
actively managed UK REIT, Schroder UK Real Estate Fund and Immobilien Europa
The mixed-use scheme
comprises 615,429 sq ft of office, retail, leisure and hotel accommodation and
456 car parking spaces across three acres.
The property is let
to over 70 tenants including the National Institute for Health & Care
Excellence (NICE), the Ministry of Justice, The University of Law, M&S
Food, Starbucks and Hays Specialist Recruitment.
planning permission for the redevelopment of the podium level space in 2018.
Plans for the project will see the 2,645 sq ft space transformed to create a
new, co-working offering and external terrace for existing tenants.
The podium level will
also provide indoor and outdoor event space, with a focus on creating a health,
mindfulness and wellbeing centre and offering business networking and private
Wakefield will focus on marketing the remaining office space within the tower
alongside joint agents, Edwards & Co. Office space is available to satisfy
requirements from 1,500 sq ft up to 50,000 sq ft.
Rob Yates Head of North West Office Agency at Cushman
& Wakefield said: “City Tower has a
major presence in Manchester city centre. We are delighted to have this
opportunity to work on this landmark instruction for Schroders with their
existing team. The plans to enhance the current offering are very exciting and
this presents a major opportunity to enhance the scheme marketing. The building
offers highly attractive accommodation to a market which currently is facing a
severe shortage of quality supply.”
Rob Cosslett, Investment Manager at Schroder Real
Estate said: “We are delighted to
welcome Cushman & Wakefield to the team at City Tower. We are continuing to
invest in the asset both aesthetically and experientially with further plans
for development alongside a robust tenant engagement strategy.”
City Tower in 2014 and has since undertaken a capital expenditure programme to
enhance the reception, central mall area, common parts and vacant office space,
capitalising on a shortage of good quality refurbished office accommodation in
the city centre.