HBD, the property investment and development arm of Henry Boot, and joint venture partner Greater Manchester Pension Fund (GMPF) have let 10,300 sq ft of office space to Arcadis at the £66m GDV Island development in Manchester.
The business has taken the first floor on a 10-year lease at a rent of £48/sq ft. Arcadis will relocate 350 employees who are currently based in two separate offices in the city into the new space.
Including the ground floor retail space, which is currently under offer, the building is now 66% leased, with three floors comprising 30,000 sq ft available.
Tim Roberts, CEO of Henry Boot, said: “Securing Arcadis at Island while setting a new rental level for the city centre is another strong endorsement of the quality of the scheme and the continued demand for, as well as limited supply of, best-in-class workspace in central Manchester. With its prime location, strong sustainability credentials and high-quality amenity offer, Island is attracting leading occupiers, and we are encouraged by the interest we continue to see in the remaining space.”
Rob Sale and Mike Richardson, Manchester office directors at Arcadis, added: “As a global consultancy, it’s essential that our workplace reflects the same commitment to net zero, climate resilience and rigorous ESG standards that we deliver for our clients. Island’s smart infrastructure and integrated sustainability technologies will help us advance our ambitious environmental goals. In addition, its exceptional communal and flexible spaces are designed to foster creativity, connectivity and wellbeing among our teams, clients and partners. This move not only supports our people but also demonstrates our ongoing investment in Manchester’s future.”
Jonathan Stanlake, from CBRE, advisers to GMPF, said: “This represents another excellent addition to the Island community and leaves just three floors remaining, with strong interest in the remaining space. As a fund that prides itself on identifying and investing in opportunities that support employment creation and economic growth in the North West region, we are delighted to be welcoming Arcadis as it enters its next phase of expansion in Manchester.”
