Towns Needham are currently based at Brook House on Fountain Street in Manchester City Centre.
Boutique law firm, Towns Needham, have just 8 weeks to vacate their office in Manchester because their new landlord wants to redevelop their building.
The influx of new investors into Manchester’s office market is having severe consequences for some local occupiers including Towns Needham. Many older office buildings have been sold in recent months at levels which can only be justified by investors charging tenants far higher rents. This is accelerating the refurbishment of many of the city’s poorer quality buildings.
Whilst this is good news for the physical fabric of the city it is starting to price some occupiers out of the market. The situation is being made worse by a growing number of office buildings being converted to alternatives uses such as hotels, student accommodation or ‘PRS’ (private rented sector). The depletion of secondary office stock is changing the character of the city centre. Many would argue this is for the better unless of course, they happen to be in the market for cheaper office space.
The challenge for occupiers such as Towns Needham therefore, is finding economic space within the central business district that is not going to be at risk from redevelopment or conversion any time soon.
Can we deliver what they want and all within an 8 week timeline? I will keep you posted.
If you would like advice on an office relocation either in Manchester or elsewhere in the UK, please call Martyn Markland on 0161 457 1422 or email him at mm@tenantag.co.uk.