Henry Boot’s property investment and development arm HBD has pre-let 45,700 sq ft of office space to Virgin Media O2 at its Island scheme in Manchester.
The telecommunications company has signed a 10-year lease on the top five floors and will relocate several regional office sites into its new northern hub.
The Island site was initially acquired by Greater Manchester Pension Fund (GMPF) before HBD became a 50/50 joint venture partner in 2019, assuming the role of development and project manager.
HBD achieved planning permission to develop Island in 2021 and building works commenced in 2022. The £66m GDV scheme, which is due to complete later this month will provide 91,000 sq ft of prime workspace space across nine floors.
Tim Roberts, CEO of Henry Boot, said: “Our joint venture with GMPF has enabled the delivery of a truly outstanding office space in Manchester. This landmark pre-let is testament to HBD’s expertise in delivering sustainable commercial office spaces that exceed occupiers’ expectations and support them in attracting and retaining the best talent. Island’s unrivalled sustainability credentials make it an attractive site for a diverse range of occupiers and we look forward to welcoming more tenants into Manchester’s best-in-class office space to support their business and ESG ambitions for many years to come.”
Ed Hutchinson, managing director of HBD, added: “Virgin Media O2’s decision to invest in Island and call this remarkable building its new home in Manchester is testament to the exceptional space we have created here. Island has been carefully designed around the needs of the occupier. Not only is it a highly intelligent and sustainable building, but it’s one which prioritises people’s health and well-being.
“Virgin Media O2’s values are perfectly aligned with ours and we’re proud to welcome them to Island.There is strong interest in the remaining space that is available at Island, with plenty of options to join Virgin Media O2 across the remaining four floors.”
Patricia Cobian, chief financial officer at Virgin Media O2, said: “This significant investment demonstrates our commitment to retaining a sizeable presence in Manchester, with a flagship new office that places us in the heart of the city’s thriving technology hub. The state-of-the art office will provide a vibrant space for our employees in the North West to get together in person and collaborate, meeting our needs now and helping to attract future talent.
“Improving our people’s experience was a key focus in the selection process, and Island offers our employees a wide range of amenities and facilities that are not currently available to them. With enviable environmental credentials and excellent transport links, this move will help reduce our carbon emissions and make it easier than ever for our employees to choose more environmentally-friendly modes of transport.”
OBI represented GMPF and HBD and CBRE acted for Virgin Media O2.
