Aviva signs Arm Group in Manchester

By Paul Norman - Friday, October 13, 2017 9:26

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Aviva Investors has let 13,500 sq ft of offices at 11 Portland Street in Manchester to Arm Group.

The global semiconductor IP company has agreed a 10-year lease on part of the seventh floor of the property, with an option to take the remaining 6,500 sq ft (604 sq m) at a later date.

11 Portland Street recently underwent a £20m refurbishment which completed in July 2017. The Arm deal follows a recent letting of 20,000 sq ft (1,858 sq m) on the eighth floor of the building to ETC Venues.

Totalling 165,000 sq ft (15,329 sq m), 11 Portland Street occupies a prime city centre location. The recent refurbishment works included the creation of two receptions and the addition of cycle racks and showers, while upgraded office floors, common parts and new building services were incorporated throughout. The central courtyard was also refurbished.

John Osbor, fund manager at Aviva Investors, said: “Attracting Arm, a prestigious tech company, to 11 Portland Street immediately after the recent letting to ETC Venues is a mark of the strength and depth of Manchester’s office market. In quick succession, we have let in excess of 32,000 sq ft following the major renovation works to the building. We have a continued commitment to investing in high quality office stock, like 11 Portland Street, in prime city locations.”

Andrew Cooke of the office agency team at Savills Manchester added: “We are very pleased to have secured this letting to Arm, which is testament to the landlord’s investment in major improvement works that completely transformed the property and repositioned it within the market. Given the continued under supply of high quality refurbishments within Manchester city centre and consistent strong demand, we are already receiving high levels of interest in the remaining circa 60,000 sq ft of space at 11 Portland Street.”

Savills and Cushman & Wakefield are joint letting agents on the office space at the building. Savills is also instructed as the retail letting agent on ground floor retail and leisure space within 11 Portland Street.

pnorman@costar.co.uk

 

 

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