Norfolk House in Manchester City Centre where Caspian Insurance currently leases around 3,000 sq.ft.
We have worked with life insurance specialist Caspian Insurance since it leased its first office in Manchester back in 2015.
Caspian’s first office in Manchester was a 1,400 sq.ft. suite in Brook House on Fountain Street. By early 2018 it had doubled its headcount. That is when it instructed TAG to identify and acquire a new office of at least twice the size.
The search resulted in the acquisition of two suites totalling 2,800 sq.ft. in nearby Norfolk House. This Grade A building within the prime CBD offered Caspian several distinct advantages. These included the fact that the two suites in question could be acquired on separate leases. When combined with tenant only break options, this arrangement gave Caspian the ability to scale back its footprint if its projected growth ever faltered.
The suites also had access to a communal kitchen and meeting rooms. This made the suites extremely cost effective as these functional elements were excluded from the lettable floor area thereby reducing the Caspian’s rent, rates and service charge liabilities as well as its upfront capital expenditure.
Thankfully, Caspian’s business model has gone from strength to strength during the pandemic and after three more years, it is now ready to double in size yet again.
We have therefore launched a search for between 5,000-6,000 sq.ft. in Manchester City Centre.
At the same time, we are also seeking to dispose of Caspian’s existing suites by way of either lease assignment or sub-let, individually or as a pair.
For advice on available relocation options in Manchester City Centre, call Martyn Markland on 0161 457 1422 or email him at mm@tenantag.co.uk.