Henry Boot secures letting to Arcadis
Summary by AI BETAClose X
ISLAND WELCOMES NEW OCCUPIER WITH THE ARRIVAL OF ARCADIS
Global Professional Services Consultancy Joins Island Community
Henry Boot announces that HBD, the group's property investment and development arm, has secured Arcadis as the latest occupier at its JV scheme with Greater Manchester Pension Fund, Island, a premium £66m GDV (our share £33m) development located in Manchester's Central Business District.
Arcadis has taken the entire 10,300 sq ft first floor on a 10-year lease and has agreed a new headline rent for Manchester city centre of £48 per sq ft. Arcadis will relocate 350 employees who are currently based in two separate offices in the city into the new space. Island is also home to Virgin Media O2, which signed a 46,000 sq ft pre-let on a 10-year lease and is now fully operational.
Including the ground floor retail space that is currently under offer, the building is now 66% leased, with only three floors comprising a total of 30,000 sq ft available and receiving strong interest from a range of potential occupiers.
Island provides 91,000 sq ft of prime workspace across nine floors, as well as a roof garden and ground floor retail and café space. The net zero carbon building has achieved an array of top end sustainability credentials, including BREEAM Excellent, an EPC A rating and a 5* NABERS Independent Design Review rating.
Tim Roberts, CEO at Henry Boot, commented: "Securing Arcadis at Island while setting a new rental level for the city centre is another strong endorsement of the quality of the scheme and the continued demand for, as well as limited supply of, best-in-class workspace in central Manchester. With its prime location, strong sustainability credentials and high-quality amenity offer, Island is attracting leading occupiers, and we are encouraged by the interest we continue to see in the remaining space."
Rob Sale and Mike Richardson, Manchester Office Directors at Arcadis, commented: "As a global consultancy, it's essential that our workplace reflects the same commitment to net zero, climate resilience and rigorous ESG standards that we deliver for our clients. Island's smart infrastructure and integrated sustainability technologies will help us advance our ambitious environmental goals. In addition, its exceptional communal and flexible spaces are designed to foster creativity, connectivity and wellbeing among our teams, clients and partners. This move not only supports our people but also demonstrates our ongoing investment in Manchester's future".
Jonathan Stanlake at CBRE, property advisors to GMPF, added: "This represents another excellent addition to the Island community and leaves just three floors remaining, with strong interest in the remaining space. As a fund that prides itself on identifying and investing in opportunities that support employment creation and economic growth in the North-West region, we are delighted to be welcoming Arcadis as it enters its next phase of expansion in Manchester."
Notes to editors
Henry Boot is one of the UK's leading land, property development and home building businesses - and we've been transforming land and spaces since 1886. Listed on the London Stock Exchange for nearly 100 years, we're renowned for quality, expertise, delivery and a partnership approach across the group, which comprises Hallam Land, HBD, Stonebridge Homes and Banner Plant. We have developed a responsible business strategy to help us meet our aim of being net zero carbon by 2030.
Operating across the UK, and employing over 400 people, we focus on three key markets: residential, industrial and logistics, and urban development. Hallam Land has facilitated 52,000 new homes since 1990, managing one of the top five largest land portfolios in the country, with the potential to facilitate over 100,000 homes.
HBD manages a development pipeline of £1.4 billion, the equivalent of 7 million sq ft of developments across our key markets, while maintaining a c.£120 million investment portfolio.
Stonebridge Homes, our jointly owned home building business, manages a land portfolio capable of delivering 1,500 homes, with an ambition to deliver up to 600 new homes a year.
For 65 years, Banner Plant has supplied construction products and services, operating from seven regional depots in the north of England.
From land promotion and property development investment to home building and plant hire, Henry Boot is where great places start.
Enquiries
FTI Consulting
Richard Sunderland / Giles Barrie
07894 797067 / 07798 926814
henryboot@fticonsulting.com
Henry Boot PLC
Tim Roberts, Chief Executive Officer
Darren Littlewood, Chief Financial Officer
Daniel Boot, Senior Corporate Communications Manager
07825 088807
dboot@henryboot.co.uk
henryboot.co.uk
Peel Hunt LLP
Corporate Broker
Ed Allsopp / Asha Chotai /Tom Graham
0207 418 8900
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