The North West


Flex Demand Soars As Manchester Landmark Centre 86% Occupied


be invaluable in the attraction and retention of staff. One of our new occupiers, Santander who have signed a lease for 11 years, is moving to Landmark from another Industrious centre and we know that the community membership offered by Industrious was an important factor in their decision making. It’s also a good example of how the partnership between Barings and Industrious is operating for the benefit of the building as a whole.”


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MANCHESTER U.K. – May 2023 – Barings Real Estate, one of the world’s largest diversified real estate investment managers, and Industrious the highly regarded flexible workplace provider have announced that soaring demand for flex space in Manchester has resulted in the Industrious St Peter’s Square flex centre at Landmark Manchester being 86% occupied less than 18 months after its launch.


The 32,000 sq ft premium flexible workplace which is operated by Industrious is located across the ground, second and third floors of Barings’ award- winning 180,000 sq ft Landmark development at St Peter’s Square in Manchester City Centre. Since its launch, the space has attracted high profile occupiers including JPMorgan Chase & Co, HSBC, Nordcloud (part of IBM) and CMC to name a few, resulting in high occupancy levels.


Ralph Dorey, Managing Director, UK at Industrious comments; “Flex space continues to be in strong demand and we’re finding that businesses have much clearer requirements for space and will come to us with exact desk needs and hours of meeting room space per month which is in contrast to previous years when there was more uncertainty. Many have a two year commitment with internal reviews after 12 months and we’re seeing demand polarised with most requirements for either 50-200 desks or at the smaller end of 2-10 desks. Regardless of the size though, it’s the perks that all the companies want in terms of the catering and hospitality offering, the events, the wellness programme and exercise facilities without having to compromise on a central location.”


The benefits offered by the centre have proven so popular that the team has now launched a Community Membership scheme for occupiers on traditional leases in Landmark, which include; Vanguard, Starling Bank, Santander, Xero, RSM, Allianz Insurance, Grant Thornton and JLL, to benefit from the hospitality and wellbeing programme on offer as well as discounts on meeting rooms and conference facilities.


Ian Mayhew, Managing Director, UK Asset management at Barings, said: “The flex centre has always supported Landmark’s traditional occupiers with overflow meeting and coworking space, and the ability to expand into flexible private offices as needed. However, the new community membership initiative allows them to benefit from daily breakfast, coffee, tea and snacks, and a weekly calendar of virtual and in- person programming and events, which can


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The flex market hasn’t reached saturation according to Dorey. “We’re actively looking for new locations for our flex centres. If you have the right building with the ability to deliver the best set up then the demand will be there. As a premium provider of space, one of the key factors for us has always been the detail on aspects such as sound attenuation. This has been critical for organisations such as HSBC UK who require that level of privacy. We have a formula that works and are looking into more partnership agreements to continue to roll out the centres.”


Industrious operates four locations across the U.K. The centre at Landmark offers 23 private offices accommodating one - 300+ people (Industrious Team), multiple conference rooms with state-of- the-art technology to accommodate in-person and hybrid work (Industrious Meet), and coworking spaces for individual workers (Industrious Share). Private offices come with an array of branding options for occupiers, enterprise-grade technology and customisable layouts. The space also features a cafe, multiple lounge and seating areas perfectly suited for group meetings and collaboration.


In a commitment to providing an engaging workplace experience, in addition to the hospitality and wellbeing programme, members can expect high-speed and secure Wi-Fi, mailing and printing capabilities, on-site support from a dedicated Community Manager, access to a global network of workspace and more.


Completed in 2020, the 180,000 sq ft award- winning Landmark development offers 14 floors of BREEAM Excellent and Wired Score Platinum certified, office space in Manchester City Centre.


Barings’ focus on well-being, customer


experience, sustainability and technological infrastructure at Landmark has delivered a world- class office building with the capacity to support the implementation of Hana by Industrious’ high-quality and hospitality-driven operations. Landmark also provides all-important facilities for existing and future tenants, including the introduction of contactless technologies enabling touch-free movement within the building, access to secured bike spaces, an eleventh-floor terrace, a fully equipped locker room with showers, electric car charging stations and more.


Leasing agents on Landmark are CBRE, Colliers and JLL.


For more information, please visit www.industriousoffice.com or www.landmarkmanchester.co.uk.


Second Pre Let Deal Agreed at £45 Million Industrial Development in Greater Manchester


Network Space has agreed a second pre- let deal at Broadheath Networkcentre in Altrincham to freight forwarding specialist, XPand Logistics.


The company is taking a 28,700 sq ft unit at the Atlantic Street site, where some 206,000 sq ft of high quality workspace is being delivered across 25 units. The letting swiftly follows a recent deal to Maersk for a 41,500 sq ft unit which means more than 35% of the site is now let in advance of practical completion.


Bansco is delivering the development on behalf of Network Space, with work at the 11.5 acre former Cartwright headquarters due to complete this autumn.


Simon Eaton, Senior Development Manager at Network Space, said: “It’s fantastic to have already let over a third of the scheme to such exceptional occupiers so far in advance of completion. This is testament to the quality of the scheme, its sustainability credentials and its prime south Manchester location.


“We continue to receive a very high level of enquiries from a broad range of potential tenants across multiple sectors and are now well on our way to delivering a best-in-class scheme offering high quality employment space, job opportunities, inward investment and economic growth.”


The regeneration of this brownfield site will see a mix of high-quality refurbished space, alongside new builds, creating a modern,


multi-let industrial destination.


With remaining units available from 2,100 sq ft to 21,500 sq ft, the development has the capacity to create upwards of 400 new jobs and provide much needed speculative workspace in the region.


An environmentally friendly scheme, targeting EPC A ratings and BREEAM Very Good, there has also been a significant reduction in embodied carbon through the construction process as the steel and concrete structures on the site are being reused and recycled. In operation initiatives include renewable energy provision through solar panels and electric vehicle charging points across the entire scheme.


The scheme is being supported with a £23.25 million loan from Trafford Council and with over 95% of the project budget being invested in a supply chain within 45 miles of the site, a significant number of local training and employment opportunities have been created.


Jonathan Williams at Savills and Will Kenyon at B8 have been appointed as letting agents for Broadheath Networkcentre by Network Space. The wider professional team includes Walker Sime, project management and quantity surveying and AEW architects.


COMMERCIAL PROPERTY MONTHLY 2023


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