Aviva Investors’ 11 Portland Street development in Manchester now 90 per cent let
Aviva Investors’ 11 Portland Street office development in central Manchester is now 90 per cent let following four successive leasehold transactions in 2018, including further expansion by ARM Holdings and an additional 40,000 sq ft expansion by Bank of Scotland PLC.
11 Portland St is located opposite Piccadilly Gardens, in close proximity to Piccadilly Station. The building underwent a GBP20 million refurbishment in 2016 and 2017 and provides approximately 160,000 sq ft of predominantly office and ground floor retail space. Bank of Scotland PLC re-geared its existing leases to take its occupation in the building to 96,000 sq ft.
Paul Smith, Associate Director at Aviva Investors, says: “We are strategically committed to Manchester and proud to help businesses grow in the city through major lettings to Bank of Scotland at 11 Portland St, Central Working at 55 Spring Gardens and Booking.com at Enterprise City. Aviva Investors is deeply embedded within the local market, enabling strong relationships with key stakeholders. The most recent letting 11 Portland St provides a great example of working closely with local employers to understand their needs and provide ‘best in class’ real estate solutions.”
John Osborn, Director – Real Estate at Aviva Investors, says: “As one of the largest commercial real estate owners in Manchester, we are delighted to extend our letting with Bank of Scotland. Aviva Investors has a long-term commitment to developing and investing in schemes that enhance the city; including Eleven York Street, 201 Deansgate, 55 Spring Gardens, Atlas Business Park and Enterprise City at St John’s. The 11 Portland Street development is central to our Manchester portfolio, offering scale, amenity and access to the city’s businesses, including the thriving technology sector.”
CBRE advised Bank of Scotland and Savills and Cushman & Wakefield acted for the landlord, Aviva Investors.