Deals totalling 47,500 sq ft signed at City Tower in Manchester

Schroder Real Estate Investment Management has secured two new office lettings at City Tower in Manchester.

The deals, totalling 47,500 sq ft of space, bring the site’s new secured income since its recent refurb to more than £1.4m.

The National Institute for Health and Care Excellence signed a 10-year lease extension with a seven-year break on 46,350 sq ft at podium level.

Chartered surveyors Charterfields, meanwhile, signed a 10-year lease for 1,247 sq ft on the building’s 22nd floor, doubling its footprint.

Schroders recently carried out a makeover of City Tower to create 36,400 sq ft of refurbished office space across four 9,100 sq ft floors.

The project also saw the repositioning of the ground floor reception and lift lobbies.

Schroder Real Estate investment manager Tom Newman said: “Securing these new long-term lettings at City Tower further validates our strategy to reposition the asset and take advantage of the city centre’s rental growth, delivering strong returns for our investors.

“We continue to see strong occupier demand from a diverse range of tenants for the good quality commercial space that we have created, as well as ongoing interest in the recently refurbished spaces.”

City Tower is owned by a joint venture between Schroder Real Estate Investment Trust, Schroder UK Real Estate Fund and Immobilien Europa Direkt.

Tom continued: “Our strategy for the asset remains focused on more lettings, whilst further enhancing the retail offer and where possible, investment into the wider realm for the benefit of City Tower and the surrounding environment.”

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