RLB now officially at No.1

Russell told me he had three key items on his wish list for RLB’s move back to the city centre. Firstly, an address that made a statement about his firm’s intent. Secondly, an office that staff and clients would love to work in and thirdly, a deal that made financial sense. I knew immediately we had a challenge on our hands. So, did we do it?

After more than a decade of being based in Salford Quays, international cost consultancy and project managers RLB decided that it was time to move back to Manchester City Centre. 

The firm’s new managing partner in Manchester, Russell Bolton, was determined to secure a location that would help the firm raise its profile and at the same time, accommodate future growth and new collaborative work styles.

The brief we took meant that RLB needed something a bit different. They wanted their move to reflect their ambition and an address that would be easy for their clients to navigate to. They wanted the building to have character and for it to be a memorable place to visit. They also wanted to create an environment that would allow their staff to work more flexibly and collaboratively.

Our initial property search focused on Grade A buildings within the traditional core. However, nothing really stood out. At one point it became apparent that the requirement for a fully manned reception which usually forms part of a Grade A specification, was not necessarily a deal breaker for RLB. The majority of their project meetings are planned well in advance so it was possible they could work around this. It was the relaxing of this criterion that allowed us to consider One King Street. Once Russell and the rest of the RLB team had inspected, we knew the fit was right.

Interestingly, one of the other benefits that One King Street offered was its lack of car parking. That is right, its lack of parking. RLB’s staff had access to free parking at their previous location so one of the natural concerns over a move to the City Centre was always going to be parking and more particularly, who would be entitled to a parking space. The fact that One King Street is devoid of a car park, has avoided any such arguments.

As for the building, well it is Grade II-listed featuring retail tenants such as Boodles and Waterstones on its lower floors and air-conditioned offices above. The latter have their own dedicated entrance onto King Street branded ‘One King Street’. 

King Street is one of the most important thoroughfares of Manchester. It was once the centre of the North West’s banking industry. Nowadays it is characterised by luxury boutiques, stylish offices and up-market restaurants.

When it comes to having a memorable address in this part of the world, it is difficult to beat One King Street. 

As Russell says, "This is a fantastic step for our growing office and demonstrates our commitment to Manchester. This move places RLB right at the heart of this vibrant and dynamic city".

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.

Another successful assignment

The video conferencing facility of Godel Technologies’ existing suite on the 27th floor of City Tower, Manchester.

The video conferencing facility of Godel Technologies’ existing suite on the 27th floor of City Tower, Manchester.

As part of its relocation project, Godel Technologies instructed Tenant Advisory Group to dispose of its existing office in City Tower which is held on a lease that does not expire until June 2019. Godel hope to move in June 2018 so this could mean them paying double overheads for 12 months.

After a brief marketing period, we have successfully agreed an assignment of Godel’s lease to a nearby tenant namely, Sheppard Robson. The vacation of the City Tower suite and the lease assignment will be timed to coincide with one another to ensure that the period of double overhead is kept to an absolute minimum.

This is a great result and allows Godel to relocate secure in the knowledge that its period of double overhead will be minimised.  

Assigning to an existing tenant with good strength of covenant is an ideal outcome. Firstly, the landlord’s consent to the transaction is unlikely to be withheld because the assignee is a known quantity. Secondly, the assignee (Sheppard Robson) will be taking responsibility for rent and service charges as well as future dilapidations and re-instatement obligations. These aspects help minimise the risks associated with the transaction and any future liabilities.

If you have a redundant lease you would like to dispose of please contact Martyn Markland on 0161 457 1422 or email him at mm@tenantag.co.uk.

Infinite possibilities

Virtual Reality gaming developer Infinite Dimensions has appointed Tenant Advisory Group to help it identify and acquire new offices in Manchester as the company seeks to expand.

Virtual Reality gaming developer Infinite Dimensions has appointed Tenant Advisory Group to help it identify and acquire new offices in Manchester as the company seeks to expand.

Infinite Dimensions is developing a new virtual reality (‘VR’) gaming concept. It is currently based in serviced offices in the city centre. In order to develop its technology further it requires its own dedicated office. The new accommodation will need to provide around 5,000 sq.ft. of mainly cellular space in which the prototype games can be tested by software developers and end-users.

This is an interesting project with some very specific technical requirements not least of all, having sufficient clear headroom to accommodate the complex laser systems that detect the movements of the gamers. Unusually for an office tenant, natural light is not a priority. However, good transport connectivity and access to ultrafast Broadband are.

Virtual and augmented reality technologies are being applied to a range of sectors. Infinite are at the cutting edge of this technology so it will be interesting to see how they develop their business in the future.

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.

Godel opts for Neo

Godel have agreed terms on Neo, Charlotte Street, Manchester.

Godel have agreed terms on Neo, Charlotte Street, Manchester.

Having conducted a comprehensive property search Tenant Advisory Group has now agreed heads of terms on the ninth floor of Neo in Manchester City Centre on behalf of its client Godel Technologies Europe. Neo has been developed by Bruntwood and is designed to cater specifically to the needs of the TMT (Technology, Media and Telecommunications) sector.

Neo is an exciting building with a number of unique features. These include a digital art wall in its reception area which doubles as event space for tenants. The first floor is dominated by communal space which includes a large roof terrace complete with stylish meeting pods. There is also a large coffee lounge where tenants can enjoy a variety of informal and formal meeting spaces which are designed to encourage collaborative activity between the building’s occupiers.   

The roof terrace and meeting pods at Neo.

The roof terrace and meeting pods at Neo.

As well as negotiating Godel’s new lease at Neo, TAG are also now marketing Godel’s existing office suite (2,157 sq.ft.) on the twenty seventh floor of City Tower by way of either lease assignment or sub-lease. If you would like more details please contact Martyn Markland on 0161 457 1422.

The reception at Penketh Group’s office on the eighth floor of Neo. Godel will be seeking to achieve a similarly striking sense of arrival for its space on the ninth floor.

The reception at Penketh Group’s office on the eighth floor of Neo. Godel will be seeking to achieve a similarly striking sense of arrival for its space on the ninth floor.